Tuktu Resources Lands $1.2M Interest-Free Loan

Jasper Mining Corporation (TSE:TUK) has released an update.

Tuktu Resources Ltd., a Calgary-based oil and gas developer, has secured a $1.2 million interest-free loan to fund regulatory deposit requirements for recent asset acquisitions. The loan, backed by a senior secured promissory note, will assist in the finalization of licence transfers and potential asset growth, with repayment tied to the company’s production revenues starting July 2024. Optimism surrounds the company’s financial strategy, which may lead to a return of the deposit if regulatory conditions are met.

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