Loan & DebtOct 7, 2026, 04:06 PM
GridAI Technologies Corp. Increases Loan to Pronghorn Resources to $3.5M
AI Summary
GridAI Technologies Corp. has amended its loan agreement with Pronghorn Resources, LLC, increasing the aggregate principal amount to $3,500,000. The latest amendment, a Second Amended and Restated Secured Convertible Note dated October 1, 2026, reflects a third loan of an additional $536,000. The note accrues 7% annual interest and is secured by a Security Agreement. The maturity date is set for December 31, 2026, or upon a Change of Control Transaction.
Key Highlights
- GridAI Technologies Corp. increased its loan to Pronghorn Resources, LLC to an aggregate principal amount of $3,500,000.
- The loan was made through a Second Amended and Restated Secured Convertible Note dated October 1, 2026.
- The loan accrues interest at an annual rate of 7% from the Maturity Date.
- The Maturity Date is the earlier of December 31, 2026, or the consummation of a Change of Control Transaction.
- The loan is secured by a Security Agreement between GridAI Technologies Corp. and Pronghorn Resources, LLC.
Price Impact
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