RenX restructures $7M note; transfers Texas collateral, obtains conditional $5M note at 13.5%

RenX Enterprises Corp.

Deed in Lieu of Foreclosure on Lago Vista, TX property extinguishes $5M of the original $7M note.
Remaining $2M secured by Oklahoma property under modified loan at 13.5% interest, maturing Dec. 1, 2028.
New $5M conditional promissory note springs if project milestones not met within 24 months, interest-only for 12 months.
Company pledges 50% membership interest in Norman Berry II Owners, LLC and assigns $209,333 note as collateral.
Company receives 70% of net sale proceeds from Texas property above $5M plus project costs.

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