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Strikewell Energy ( (TSE:SKK) ) has issued an announcement.
Strikewell Energy Corp. has entered into two new unsecured promissory note agreements totaling roughly $21.9 million with entities controlled by major shareholder John R. Hislop, effectively refinancing and extending existing related-party debt. A $7.8 million loan from Caravel Management Corp. and a $14.1 million loan directly from Hislop, each bearing 15% annual interest and maturing on December 31, 2032, replace expired notes from 2019 and are structured as non-convertible instruments, allowing the company to rely on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101, thereby preserving liquidity while maintaining control of its capital structure.
More about Strikewell Energy
Strikewell Energy Corp. is a Vancouver-based oil and gas issuer whose common shares trade on the TSX Venture Exchange, focusing on exploration and development activities in the energy sector.
Average Trading Volume: 5,500
Technical Sentiment Signal: Sell
Current Market Cap: C$1.04M
Find detailed analytics on SKK stock on TipRanks’ Stock Analysis page.