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Financings

Golden Lake Announces Convertible Promissory Note

By The Northwire Desk — AI Analysis Dec 03, 2025 · 18:30 GLM · 0.055 Golden Lake Exploration Inc. Common Shares
GLM · Price

Executive Summary

  • Golden Lake Exploration Inc. issued an unsecured convertible promissory note for C$165,000 with a 10% annual interest rate and maturity on October 29 2026.
  • The loan is convertible at $0.05 per common share, subject to a four‑month‑plus statutory hold period after issuance.
  • Proceeds will be used to make advance royalty payments under the Company’s option agreement with Greenlane Resources Ltd.

Key Details

  • Note Amount: C$165,000 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.
  • Statutory Hold Period: Four months and one day from issuance for any shares issued upon conversion, in accordance with CSE rules.
  • Use of Proceeds: To fund advance royalty payments owed under the Option Agreement with Greenlane Resources Ltd.
  • Conversion Mechanics: Loan amount may be converted into common shares at the stated price prior to maturity, subject to the hold period.

Notable Quotes

  • “Mike England,” CEO & Director – signatory on behalf of the board. (No additional commentary provided.)
Read the original news release →

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