debt
confidence high
sentiment neutral
materiality 0.50
Sky Quarry issues $1.2M secured convertible note to KF Business Ventures; issues warrant for 1.2M shares
Sky Quarry Inc.
- Note principal $1.2M, convertible at $0.84/share, interest 1.5%/month, matures March 2, 2025.
- Warrant for 1,200,000 shares at $0.83/share, exercisable for 5 years.
- Security: 2020 Resources LLC pledges two Solar Centaur 40 turbines via security agreement.
- Advisory agreement with KFBV: 6-month term, $21,000/month (half cash, half common stock).
- Repayment priority from any future securities offering of at least $4M; prepayment requires interest to maturity.