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Financings

Golden Lake issues $165,000 promissory note

By The Northwire Desk — AI Analysis Dec 04, 2025 · 01:37 GLM · 0.055 Golden Lake Exploration Inc
GLM · Price

Executive Summary

  • Golden Lake Exploration Inc. has entered into an unsecured, convertible promissory note to borrow $165,000.
  • The loan carries a 10% annual interest rate, matures on October 29, 2026, and is convertible into common shares at $0.05 per share.
  • Proceeds are intended for advance royalty payments under an option agreement with Greenlane Resources Ltd.

Key Details

  • Principal Amount: $165,000
  • Instrument Type: Unsecured, convertible promissory note
  • Interest Rate: 10% per annum, accruing from the issue date
  • Maturity Date: October 29, 2026
  • Conversion Price: $0.05 per common share
  • Hold Period: Common shares issued upon conversion are subject to a statutory hold period of four months and one day from the date of issuance, per Canadian Securities Exchange policies and applicable securities law.
  • Use of Proceeds: Advance royalty payments owned under the company's option agreement with Greenlane Resources Ltd.

Notable Quotes

  • None provided in the text.
Read the original news release →

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