Makenita Resources Corporate Update

Executive Summary

• Makenita Resources Inc. entered into a $200,000 unsecured loan agreement bearing 8% annual interest, maturing 24 months after closing or upon raising $500,000 in equity/debt financing.
• The lender will receive 2,220,000 share purchase warrants exercisable at $0.09 per share for five years, subject to a four‑month hold period.
• Interest on the loan is payable semi‑annually, with the first payment due within five days of loan advance.

Key Details

• Loan Amount: $200,000 unsecured.
• Interest Rate: 8% per annum; interest payable every six months.
• Maturity/Term: 24 months from closing or three business days after Makenita notifies that it has raised a minimum of $500,000 through equity or debt financings.
• First Interest Payment: Due on or before the 5th day after loan proceeds are advanced.
• Warrants Issued: 2,220,000 warrants to purchase one common share each at an exercise price of $0.09.
• Warrant Term: exercisable for five years from issuance.
• Hold Period: Warrants and underlying shares subject to a four‑month plus one day hold period per securities law requirements.
• Closing Conditions: Subject to receipt of all required corporate and regulatory approvals.

Notable Quotes

(No quotes provided in the release.)