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Guardian Exploration ( (TSE:GX) ) has provided an announcement.
Guardian Exploration Inc. has entered into term loan agreements with Deckland Inc. and Guardian Helicopters Inc., both owned by Guardian’s President and CEO, Graydon Kowal. The loans, totaling over $1.1 million, are secured against the company’s mineral assets and bear an interest rate of 15% per annum, maturing in three years. This financial maneuver is classified as a ‘Related Party Transaction’ under regulatory guidelines, with the necessary approvals obtained from disinterested directors. The issuance of warrants to the lenders further aligns the interests of the parties involved, potentially impacting Guardian’s financial structure and stakeholder dynamics.
More about Guardian Exploration
Guardian Exploration Inc. is a publicly traded company listed on the TSX Venture Exchange, engaged in the exploration and development of oil, gas, and mineral resources. The company’s portfolio includes the Mount Cameron Property in the Yukon, mineral claims on southern Dall Island in Alaska, and the Sundog claims in Nunavut.
Average Trading Volume: 37,439
Technical Sentiment Signal: Sell
Current Market Cap: C$6.24M
See more insights into GX stock on TipRanks’ Stock Analysis page.