Texas Mineral Resources Corp. (TMRC): debt financing — Texas Mineral Resources Corp. secures $848K loan from accredited investors with convertible notes and warrants

Texas Mineral Resources Corp.

Company entered loan agreement for $848,000 aggregate principal from 13 accredited investors.
Notes are unsecured, zero-interest, mature Aug 10, 2025, convertible at $0.30/share into up to 2,826,667 shares.
Warrants to purchase up to 8,480,000 shares at $0.30/share, exercisable until Feb 10, 2030.
Board members loan $203K; Marchese family loans $225K; total insider participation $428K.
Proceeds used for general corporate purposes including G&A expenses.

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 convertible notes of $848,000 with thirteen accredited investors at will not bear interest maturing August 10, 2025.

Instrument: convertible notes
Principal: $848,000
Counterparty: thirteen accredited investors
Rate: will not bear interest
Maturity: August 10, 2025
Event: incurrence

Exact text from the filing

The Notes to be issued to the investors (i) will be in the aggregate principal amount of $848,000, (ii) will not bear interest, (iii) will mature and be due and payable on August 10, 2025

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Texas Mineral Resources Corp. filing history →

Source: SEC EDGAR

accession 0001999371-25-001534

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