Indigo Enters into Loan Agreements
Indigo Exploration has secured loan agreements totaling $170,000 with multiple lenders, including two company directors contributing $10,000 each. The loans carry a 10% annual interest rate and are due in 12 months. The company will issue 680,000 bonus shares at $0.05 per share to the lenders. Proceeds will fund exploration work on the Hot Property and general working capital. The transaction requires TSX Venture Exchange approval and qualifies for exemptions from formal valuation and minority shareholder approval requirements under MI 61-101.
Indigo Exploration ha stipulato accordi di prestito per un totale di $170,000 con diversi finanziatori, compresi due direttori dell'azienda che contribuiscono con $10,000 ciascuno. I prestiti hanno un tasso d'interesse annuale del 10% e scadranno tra 12 mesi. L'azienda emetterà 680,000 azioni bonus a $0.05 per azione ai finanziatori. I proventi saranno utilizzati per lavori di esplorazione su Hot Property e per il capitale operativo generale. La transazione richiede l'approvazione della TSX Venture Exchange e si qualifica per esenzioni dai requisiti di valutazione formale e dall'approvazione degli azionisti di minoranza ai sensi del MI 61-101.
Indigo Exploration ha asegurado acuerdos de préstamo por un total de $170,000 con múltiples prestamistas, incluyendo a dos directores de la empresa que contribuyen con $10,000 cada uno. Los préstamos tienen una tasa de interés anual del 10% y se deben en 12 meses. La empresa emitirá 680,000 acciones adicionales a $0.05 por acción para los prestamistas. Los ingresos se utilizarán para financiar trabajos de exploración en Hot Property y para capital operativo general. La transacción requiere la aprobación de la TSX Venture Exchange y califica para exenciones de los requisitos de valoración formal y la aprobación de los accionistas minoritarios bajo el MI 61-101.
인디고 탐사는 여러 대출 기관과 함께 총 $170,000의 대출 계약을 체결했으며, 이 중 두 명의 회사 이사가 각각 $10,000를 기부합니다. 대출은 연 10%의 이자율을 가지고 있으며 12개월 뒤에 만기가 됩니다. 회사는 대출자에게 680,000 개의 보너스 주식을 주당 $0.05에 발행할 예정입니다. 수익금은 핫 프로퍼티 탐사 작업과 일반 운전 자본에 사용됩니다. 이 거래는 TSX 벤처 거래소의 승인을 요구하며 MI 61-101에 따라 공식 평가 및 소수 주주 승인 요구의 면제 조건을 충족합니다.
Indigo Exploration a obtenu des accords de prêt totalisant $170,000 avec plusieurs prêteurs, dont deux directeurs de l'entreprise qui contribuent chacun $10,000. Les prêts portent un taux d'intérêt annuel de 10% et sont dus dans 12 mois. L'entreprise émettra 680,000 actions bonus à $0.05 l'action aux prêteurs. Les recettes serviront à financer des travaux d'exploration sur la Hot Property et à des besoins de fonds de roulement général. La transaction nécessite l'approbation de la TSX Venture Exchange et est éligible aux exemptions des exigences de valorisation formelle et d'approbation des actionnaires minoritaires selon le MI 61-101.
Indigo Exploration hat Kreditverträge im Gesamtbetrag von $170,000 mit mehreren Kreditgebern abgeschlossen, darunter zwei Unternehmensdirektoren, die jeweils $10,000 beitragen. Die Kredite haben einen jährlichen Zins von 10% und sind in 12 Monaten fällig. Das Unternehmen wird 680,000 Bonusaktien zu je $0.05 an die Kreditgeber ausgeben. Die Erlöse werden zur Finanzierung von Erkundungsarbeiten an der Hot Property und für das allgemeine Betriebskapital verwendet. Die Transaktion bedarf der Genehmigung der TSX Venture Exchange und qualifiziert sich für Ausnahmen von den Anforderungen an die formelle Bewertung und die Zustimmung der Minderheitsaktionäre gemäß MI 61-101.
- Secured $170,000 in financing for exploration and working capital
- Directors showing confidence by participating in the loan agreement
- 10% annual interest rate represents significant borrowing cost
- Share issuance of 680,000 bonus shares will cause dilution
- Related party transactions with directors may raise governance concerns
Vancouver, British Columbia--(Newsfile Corp. - October 25, 2024) - Indigo Exploration Inc. (TSXV: IXI) (OTCQB: IXIXF) (FSE: INEN) (the "Company") (the "Company") is pleased to announce that it has entered into loan agreements with certain lenders pursuant to which an aggregate of
The loan agreements provide that any outstanding balance of the principal amount of each loan and the interest owing pursuant to such loan is due and payable to the lenders twelve months from the date of their respective agreement. Interest is payable on the outstanding balance of the principal amount of the Loan at the rate of
In addition, the Company has agreed to issue an aggregate of 680,000 bonus shares to the lenders at a deemed price of
Two of the lenders are directors of the Company and are loaning
On Behalf of the Board of Directors,
"Paul Cowley", President and CEO
For further information, please contact: Paul Cowley: (604) 340-7711 Website: www.indigoexploration.com
This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. The forward-looking statements contained in this press release are made as of the date hereof.
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227950
FAQ
What is the total loan amount secured by Indigo Exploration (IXIXF) in October 2024?
What interest rate will Indigo Exploration (IXIXF) pay on the October 2024 loans?
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What will Indigo Exploration (IXIXF) use the loan proceeds for?
