Golden Lake Announces Convertible Promissory Note

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.)