Loan & DebtNov 5, 2026, 04:56 PM
Alaska Silver Corp. Extends Promissory Note Maturity to July 2028
AI Summary
Alaska Silver Corp. announced that its subsidiary, ASUSA, has entered into a Ninth Amendment to a Promissory Note with Joe Piekenbrock, the Company's Chief Exploration Officer. The amendment effectively extends the maturity date for the remaining outstanding principal and accrued interest on the note from July 1, 2027, to July 1, 2028. The original note, issued in March 2021, had an initial principal of $3,698,000 and currently has an outstanding balance of approximately $1,073,471 as of November 1, 2026. Additionally, the company entered into a new consulting agreement with Piek Exploration LLC, revising the compensation structure for Mr. Piekenbrock's services.
Key Highlights
- Alaska Silver Corp. subsidiary amended a promissory note, extending the maturity date for the remaining principal and accrued interest to July 1, 2028.
- The original promissory note was for $3,698,000, issued on March 31, 2021, with an interest rate of 3.5% per annum.
- As of November 1, 2026, the outstanding principal and interest balance on the note was approximately $1,073,471.
- The amendment allows for monthly principal payments of $10,000 and a 6% principal reduction payment upon any future financing round closure.
- Joe Piekenbrock, Chief Exploration Officer, is the holder of the promissory note.
- A new consulting agreement with Piek Exploration LLC (controlled by Joe Piekenbrock) was also established, changing compensation from a fixed monthly rate to $200 per hour, effective January 1, 2026.
Price Impact
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