Adelayde obtains $100,000 loan

Executive Summary

• Adelayde Exploration Inc. has entered into a loan agreement to borrow $100,000 from an arm's-length lender.
• The financing includes the issuance of 2,000,000 share purchase warrants as part of the loan terms.
• Closing is subject to regulatory approvals and statutory hold periods apply to the issued securities.

Key Details

• Loan Amount: $100,000
• Interest Rate: 10% per annum
• Loan Term: 12 months from closing, or three business days following written notice that the company has raised a minimum of $500,000 through equity or debt financings.
• Repayment Terms: The company may repay the loan at any time before maturity without penalty.
• Warrants Issued: 2,000,000 share purchase warrants.
• Warrant Exercise Price: $0.05 per common share.
• Warrant Term: Five years from the closing of the loan.
• Security: Unsecured loan.
• Conditions Precedent: Closing is subject to receipt of all necessary corporate and regulatory approvals.
• Restrictions: All securities issued are subject to a statutory hold period of four months plus one day from closing.