secwatch.observer — SEC 8-K summary
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Issuer:     Laredo Oil, Inc. (LRDC)
CIK:        0001442492
Form:       8-K
Filed at:   2023-06-02T23:59:59+00:00
Accession:  0001199835-23-000305
Event type: debt
Sentiment:  neutral
Materiality: 0.35
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1442492/000119983523000305/0001199835-23-000305-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1442492/000119983523000305/lrdc-8k.htm
  HTML page:      https://secwatch.observer/filing/0001199835-23-000305

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