---
schema_version: "secwatch.filing_event.v1"
accession: "0001199835-23-000305"
form_type: "8-K"
ticker: "LRDC"
cik: "0001442492"
company_name: "Laredo Oil, Inc."
filed_at: "2023-06-02T23:59:59+00:00"
generated_at: "2026-06-14T08:07:00.303827+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# Laredo Oil amends note purchase agreement; raises interest rate to 12%, extends maturity to Sept 2025

## Summary
- Amended NPA increases annual interest rate from 10% to 12% on outstanding principal.
- Maturity date extended from Sept 23, 2025 to Sept 30, 2025.
- Company may issue additional notes up to $7.5M aggregate principal until Dec 31, 2024.
- As of May 30, 2023, $540,000 in notes have been issued; proceeds for general corporate purposes and well development.
- Notes secured by pledge of all equity in wholly-owned subsidiary Hell Creek Crude LLC.

## SEC filing metadata
- accession: 0001199835-23-000305
- form_type: 8-K
- ticker: LRDC
- cik: 0001442492
- company_name: Laredo Oil, Inc.
- filed_at: 2023-06-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1442492/000119983523000305/0001199835-23-000305-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1442492/000119983523000305/lrdc-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001199835-23-000305
- JSON: https://secwatch.observer/filing/0001199835-23-000305.json
- Plain text: https://secwatch.observer/filing/0001199835-23-000305.txt

## Key facts
- Debt Financings
  Laredo Oil, Inc. amended senior notes of up to $7,500,000 at 12.0% per annum maturing September 30, 2025.
  - Instrument: senior notes
  - Principal: up to $7,500,000
  - Rate: 12.0% per annum
  - Maturity: September 30, 2025
  - Event: amendment
  source text: The Amended NPA amends Section 2.1(b) of the Note Purchase Agreement to allow the Company to sell and issue additional Notes, up to the maximum aggregate principal amount of $7,500,000, at one or more Subsequent Closings (as defined in the Amended NPA) until December 31, 2024. The Notes will accrue interest on the outstanding principal sum at the originally annual rate of 12.0% per annum, rather than 10.0% per annum annual rate provided in the Note Purchase Agreement, and will have a maturity date of September 30, 2025, rather than September 23, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1442492/000119983523000305/0001199835-23-000305-index.htm
- Material Agreements
  Laredo Oil, Inc. amended Amended and Restated Note Purchase Agreement with certain Investors, as defined in the Amended NPA, holding the majority in interest of the then outstanding Notes, and additional Investors valued at aggregate principal amount of up to $7,500,000 (effective 2023-05-30).
  - Action: amendment
  - Agreement: notes offering
  - Counterparty: certain Investors, as defined in the Amended NPA, holding the majority in interest of the then outstanding Notes, and additional Investors
  - Value: aggregate principal amount of up to $7,500,000
  - Effective: 2023-05-30
  source text: On May 30, 2023, Laredo Oil, Inc. (the “Company”) entered into an Amended and Restated Note Purchase Agreement (the “Amended NPA”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1442492/000119983523000305/0001199835-23-000305-index.htm

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