Ultra Lithium Faces $1.1M Loan Repayment Ultimatum

Ultra Resources (TSE:ULT) has released an update.

Ultra Lithium Inc. has been hit with a default notice from Power Minerals Limited demanding the full repayment of a $1.1 million loan within 10 business days. This situation arises under a convertible loan agreement and if not resolved, Power Minerals may enforce its rights under the security agreements, which include a general security agreement and a share pledge agreement.

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