Augusta Gold borrows $262,500 at 14% via unsecured note, issues 300,000 warrants

AUGUSTA GOLD CORP.

Borrowed $262,500 from Donald Taylor via unsecured promissory note at 14% interest, maturing Dec 31, 2024.
Issued 300,000 warrants exercisable at C$0.62 per share for five years as additional consideration.
Paid $12,500 origination fee to lender at closing; proceeds for general corporate purposes.
Warrants issued in reliance on Section 4(a)(2) exemption from registration under the Securities Act.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

AUGUSTA GOLD CORP. entered into Unsecured Note Purchase Agreement with Donald Taylor valued at US$262,500 Loan; 14% interest; matures December 31, 2024; 300,000 warrants exercisable at C$0.62 for (effective 2024-02-26).

Action: entry
Agreement: notes offering
Counterparty: Donald Taylor
Value: US$262,500 Loan; 14% interest; matures December 31, 2024; 300,000 warrants exercisable at C$0.62 for
Effective: 2024-02-26

Exact text from the filing

On February 26, 2024, Augusta Gold Corp. (the “ Company ”) entered into an unsecured note purchase agreement (the “ Purchase Agreement ”) with Donald Taylor (the “ Lender ”) to offer and sell an unsecured promissory note of the Company (the “ Note ”) in exchange for the Lender loaning the Company US$262,500 (the “ Loan ”).

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Source: SEC EDGAR

accession 0001104659-24-029970

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