Financings
Turnium Technology Group Announces Extension of Loans
TTGI · Price
Executive Summary
- Turnium Technology Group Inc. received conditional approval from the TSX Venture Exchange to extend $1,073,000 of promissory notes via new unsecured loan agreements.
- The loans carry interest at 1.33% per month, payable quarterly, with a maturity date of December 31, 2027 and an optional pre‑payment penalty of three months’ interest.
- As additional consideration, the company will issue 9,500,000 non‑transferable common share purchase warrants (exercise price $0.10) to the lenders, representing 100% of the principal amount divided by $0.10 per share.
Key Details
- Loan Terms – Interest: 1.33% per month; Quarterly interest payments beginning after Q4 2025; Maturity: December 31 2027; Pre‑payment penalty: accrued interest + three months’ interest.
- Total Loan Amount – $1,073,000 (principal) comprising extensions of four existing loans ($950,000 principal + $123,000 accumulated interest).
- Warrant Issuance – 9,500,000 bonus warrants to be issued; each warrant exercisable at $0.10 per share; term up to 24 months, expiring December 9 2027; accelerated exercise provisions tied to share price thresholds and pre‑payment events.
- Original Loan Summary
| Lender | Original Principal | Initial Date | Accrued To | Monthly % | Total Settlement |
|---|---|---|---|---|---|
| Loan Holder 1 | $300,000 | Feb 19 2025 | Jul 31 2025 | 1.50% | – |
| — | $100,000 | Sep 30 2022 | Jul 31 2025 | 1.00% | – |
| — | $200,000 | Mar 28 2024 | Jul 31 2025 | 1.17% | $700,000 |
| Jim Lovie (Director) | $200,000 | Feb 5 2025 | Jul 31 2025 | 1.50% | $218,000 |
| Loan Holder 2 | $100,000 | Dec 17 2024 | Jul 31 2025 | 1.00% | – |
| — | $25,000 | Jul 1 2025 | Jul 31 2025 | 1.00% | $130,000 |
| Loan Holder 3 | $25,000 | Jul 1 2025 | Jul 31 2025 | 1.00% | $25,000 |
- Total Original Loans – $1,073,000.
- Warrant Acceleration Clause – If TTGI’s share price ≥ $0.30 for any 10 consecutive trading days, the company may announce warrant expiry 60 days after a notice press release (deadline: 30 calendar days after threshold date).
- Pre‑payment Adjustment – If loan is prepaid before first anniversary, pro‑rated warrants’ term reduced to the later of one year from issuance or 30 days after pre‑payment.
- Insider Participation – 2,000,000 of the bonus warrants will be issued to an insider (related‑party transaction) under TSX Venture Exchange Policy 5.9 and MI 61‑101 exemptions.
Notable Quotes
(No executive quotes were included in the release.)
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Jun 10, 2026 · 07:31