GridAI lends $2M to Pronghorn Resources via secured convertible note due Dec 2026

GridAI Technologies Corp.

GridAI made a $2M secured convertible loan to Pronghorn Resources, LLC on July 17, 2026.
Note bears 7% annual interest, matures Dec 31, 2026 or upon change of control of Pronghorn.
Upon uncured event of default, GridAI can convert the payment amount into 10% of Pronghorn's fully diluted membership interests.
The note is secured by all of Pronghorn's assets under a separate security agreement.
Pronghorn agreed to customary negative covenants including restrictions on additional indebtedness and liens.

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