Texas Mineral Resources Corp. (TMRC): debt financing — Texas Mineral Resources closes $1.098M debt financing with notes and warrants

Texas Mineral Resources Corp.

Closed $848,000 debt financing from 13 accredited investors on Feb 20, 2025, issuing unsecured notes and warrants.
Closed additional $250,000 debt financing from 2 accredited investors (including son-in-law of director Wall) on Feb 20, 2025.
Notes convertible into common stock at $0.30 per share; warrants exercisable for up to 8,480,000 shares at $0.30 per share.
Directors Marchese, Wall, Gorski, Malhotra received notes totaling $203,000 and warrants for 2,030,000 shares.
Maturity date Aug 10, 2025; notes bear no interest.

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

Texas Mineral Resources Corp. incurred loan of aggregate principal amount of $250,000 with two accredited investors at do not bear interest maturing August 10, 2025.

Instrument: loan
Principal: aggregate principal amount of $250,000
Counterparty: two accredited investors
Rate: do not bear interest
Maturity: August 10, 2025
Event: incurrence

Exact text from the filing

On February 20, 2025, pursuant to the closing of the $250,000 of debt financing in accordance with the Loan Agreements dated February 18, 2025, the Company issued to the two investors unsecured Notes

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10 debt financings filed in the last 30 days. Browse all debt financings →

Texas Mineral Resources Corp. filing history →

Source: SEC EDGAR

accession 0001839882-25-010149

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