Hertz Energy Announces Loan Agreement
Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QX1) has announced a loan agreement with Flowing Lithium Exploration Inc. (FLE). The company has agreed to borrow CDN$150,000 from FLE under the terms of the FLE Loan Agreement dated June 17, 2024. The loan carries an interest rate of 10.0% per annum and is set to mature on June 17, 2025. Hertz Energy has clarified that this transaction is considered to be at arm's length, indicating that it was negotiated between independent parties acting in their own self-interest.
Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QX1) ha annunciato un accordo di prestito con Flowing Lithium Exploration Inc. (FLE). L'azienda ha concordato di prendere in prestito 150.000 CDN$ da FLE in base ai termini del Contratto di Prestito FLE datato 17 giugno 2024. Il prestito prevede un tasso d'interesse del 10,0% annuo e scadrà il 17 giugno 2025. Hertz Energy ha chiarito che questa transazione è considerata in condizioni di mercato, indicando che è stata negoziata tra parti indipendenti che agiscono nel proprio interesse.
Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QX1) ha anunciado un acuerdo de préstamo con Flowing Lithium Exploration Inc. (FLE). La empresa ha acordado pedir prestado CDN$150,000 de FLE bajo los términos del Acuerdo de Préstamo FLE fechado el 17 de junio de 2024. El préstamo tiene un tasa de interés del 10,0% anual y vence el 17 de junio de 2025. Hertz Energy ha aclarado que esta transacción se considera realizada en condiciones de mercado, indicando que fue negociada entre partes independientes que actúan en su propio interés.
Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QX1)은 Flowing Lithium Exploration Inc. (FLE)와 대출 계약을 발표했습니다. 회사는 2024년 6월 17일자 FLE 대출 계약에 따라 FLE로부터 CDN$150,000을 빌리기로 합의했습니다. 대출은 연 10.0%의 이자율을 가지며, 2025년 6월 17일에 만료될 예정입니다. Hertz Energy는 이번 거래가 상호 이익을 고려한 거래로, 독립적인 당사자들 간의 협상으로 이루어졌음을 분명히 했습니다.
Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QX1) a annoncé un accord de prêt avec Flowing Lithium Exploration Inc. (FLE). La société a convenu d'emprunter 150 000 CAD à FLE selon les termes de l'Accord de Prêt FLE daté du 17 juin 2024. Le prêt a un taux d'intérêt de 10,0 % par an et doit arriver à échéance le 17 juin 2025. Hertz Energy a précisé que cette transaction est considérée comme sur un pied d’égalité, ce qui indique qu'elle a été négociée entre des parties indépendantes agissant dans leur propre intérêt.
Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QX1) hat eine Darlehensvereinbarung mit Flowing Lithium Exploration Inc. (FLE) bekannt gegeben. Das Unternehmen hat vereinbart, CDN$150.000 von FLE gemäß den Bedingungen des FLE-Darlehensvertrags vom 17. Juni 2024 zu leihen. Das Darlehen hat einen Zinssatz von 10,0% pro Jahr und läuft am 17. Juni 2025 aus. Hertz Energy hat klargestellt, dass diese Transaktion als geschäftlich angemessen gilt und dass sie zwischen unabhängigen Parteien verhandelt wurde, die in ihrem eigenen Interesse handeln.
- Secured additional funding of CDN$150,000 through a loan agreement
- Loan provides short-term liquidity for the company's operations
- High interest rate of 10.0% per annum on the loan
- Increased debt liability for the company
Vancouver, British Columbia--(Newsfile Corp. - August 9, 2024) - Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QX1) (the "Company" or "Hertz") announces entering into a loan agreement with Flowing Lithium Exploration Inc.
The Company has entered into a loan agreement dated June 17, 2024 (the "FLE Loan Agreement") with Flowing Lithium Exploration Inc. ("FLE"), pursuant to which the Company agreed to borrow from FLE CDN
About the Company
The Company is a British Columbia based junior exploration company primarily engaged in the acquisition and exploration of energy metals mineral properties. The Company's lithium exploration projects include the Lucky Mica Lithium Project, the AC/DC Lithium Project, and the Snake Lithium Project. The Lucky Mica Project is 939 hectares located within the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA. The AC/DC Project is 26,500 hectares located in the renowned James Bay Lithium District in Quebec, Canada, just 26kms southeast of the Covette Lithium Project owned by Patriot Battery Metals and is contiguous to Rio Tinto's Kaanaayaa project claims. The Snake Lithium Project is 21,700 hectares located west of AC/DC near other notable projects including Harfang Exploration, Brunswick Exploration and Ophir. The Company's uranium projects include the Cominco Uranium Project located in Bathurst Inlet, Nunavut, Canada and its recent applications for Exclusive Prospecting Licenses in Namibia.
For further information, please contact Mr. Kal Malhi or view the Company's filings at www.sedarplus.ca.
On Behalf of the Board of Directors
Kal Malhi
Chief Executive Officer and Director
Phone: 604-805-4602
Email: kal@bullruncapital.ca
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219426
FAQ
What is the loan amount and interest rate for Hertz Energy's (HZLIF) recent loan agreement?
When is the maturity date for Hertz Energy's (HZLIF) loan from Flowing Lithium Exploration?
Is the loan agreement between Hertz Energy (HZLIF) and Flowing Lithium Exploration considered an arm's length transaction?
What is the date of the loan agreement between Hertz Energy (HZLIF) and Flowing Lithium Exploration?
