Strikewell Energy arranges loans from Caravel, Hislop

Executive Summary

• Strikewell Energy Corp. entered into two unsecured promissory notes totaling $21,915,164.05, each bearing a 15 % annual interest rate and maturing on December 31, 2032.
• One note is with Caravel Management Corp. ($7,804,448.67) and the other with Mr. David Hislop ($14,110,715.38); both replace prior 2019 notes.
• The transactions are classified as related‑party loans under MI 61‑101, but the company is exempt from valuation and minority‑shareholder approval requirements.

Key Details

• Caravel Management Corp. Note
• Principal amount: $7,804,448.67
• Interest rate: 15 % per annum (fixed)
• Maturity date: December 31, 2032

• Unsecured; replaces the expired Caravel note dated Jan. 1 2019.

• Mr. David Hislop Note

• Principal amount: $14,110,715.38
• Interest rate: 15 % per annum (fixed)
• Maturity date: December 31, 2032

• Unsecured; replaces the expired Hislop note dated Jan. 1 2019.

• Related‑Party Status

• Mr. David Hislop is a control person under MI 61‑101; Caravel is wholly owned by John R. Hislop, a significant shareholder.

• The loans are non‑convertible and do not give rise to equity or voting securities.

• Regulatory Exemptions

• Exempt from formal valuation (Section 5.4) because Strikewell Energy is not listed on a specified market.

• Exempt from minority shareholder approval (Section 5.6) as the loans are non‑convertible and do not involve equity issuance.

• Company Status

• Strikewell Energy Corp. is an oil and gas issuer with common shares listed on the TSX Venture Exchange.