Laredo Oil issues $114K convertible note to Geneva Roth, nets $100K

Laredo Oil, Inc.

Sold a convertible promissory note with $114,125 principal; net proceeds of $100,000.
Note bears 8% interest (22% upon default); matures October 1, 2022.
Conversion price is 75% of the average 3 lowest closing bid prices over 15 days before conversion, after 180 days.
Prepayment allowed in first 180 days at 110%-115% of principal plus interest; no prepayment thereafter without investor consent.
Default triggers liquidated damages up to 300% of the note amount; 4.99% ownership cap on conversion.

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