secwatch.observer — SEC 8-K summary
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Issuer:     Laredo Oil, Inc. (LRDC)
CIK:        0001442492
Form:       8-K
Filed at:   2022-09-27T23:59:59+00:00
Accession:  0001199835-22-000569
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1442492/000119983522000569/0001199835-22-000569-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1442492/000119983522000569/laredo_8k.htm
  HTML page:      https://secwatch.observer/filing/0001199835-22-000569

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