---
schema_version: "secwatch.filing_event.v1"
accession: "0001199835-22-000356"
form_type: "8-K"
ticker: "LRDC"
cik: "0001442492"
company_name: "Laredo Oil, Inc."
filed_at: "2022-06-03T23:59:59+00:00"
generated_at: "2026-06-25T04:41:39.253629+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Laredo Oil enters up to $1.5M revolving credit facility with AEI Management at 8.75% interest

## Summary
- Maximum draw $1.5M; advances limited to $150k per 30-day period.
- Interest rate 8.75% per annum, maturity May 1, 2023.
- Lender may convert outstanding principal and interest into common stock at a 20% discount to market (if listed) or at par if not listed.
- Conversion capped at 4.99% beneficial ownership; no collateral or guarantees provided.
- Lender consent required for dividends, additional debt, asset sales, and changes of control.

## SEC filing metadata
- accession: 0001199835-22-000356
- form_type: 8-K
- ticker: LRDC
- cik: 0001442492
- company_name: Laredo Oil, Inc.
- filed_at: 2022-06-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1442492/000119983522000356/0001199835-22-000356-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1442492/000119983522000356/laredo_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001199835-22-000356
- JSON: https://secwatch.observer/filing/0001199835-22-000356.json
- Plain text: https://secwatch.observer/filing/0001199835-22-000356.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.