DAYBREAK OIL & GAS, INC.: debt financing — Daybreak Oil and Gas enters $60K zero-interest promissory note with CEO

DAYBREAK OIL & GAS, INC.

Issued $60,000 promissory note to Chairman/CEO James F. Westmoreland on July 27, 2023.
Note matures July 27, 2024, carries no interest, fees, or penalties; prepayable anytime.
Transaction approved by board and Nominating and Corporate Governance Committee under related-party policy.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

DAYBREAK OIL & GAS, INC. incurred loan of $60,000.00 with James F. Westmoreland at no interest maturing July 27, 2024.

Instrument: loan
Principal: $60,000.00
Counterparty: James F. Westmoreland
Rate: no interest
Maturity: July 27, 2024
Event: incurrence

Exact text from the filing

Note (the “Agreement”) with James F. Westmoreland, the Company’s Chairman, President and Chief Executive Officer. As Consideration for the aggregate principal amount of $60,000.00 (the “Note”) The Note has a maturity date of July 27, 2024, and carries no interest, fees or penalties. The Company may prepay the Note at any time. The Agreement and the Note

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Source: SEC EDGAR

accession 0001515971-23-000111

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