Laredo Oil enters $7.5M secured note purchase agreement; initial $50K note issued

Laredo Oil, Inc.

Note Purchase Agreement dated Sept 23, 2022 for aggregate principal up to $7,500,000.
Initial promissory note of $50,000 issued; additional issuances allowed until Nov 30, 2022.
Notes accrue interest at 10% per annum and mature on Sept 23, 2025.
Notes secured by pledge of all equity in wholly-owned subsidiary Hell Creek Crude LLC.
Proceeds will be used for general corporate purposes and working capital.

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