Golden Ridge Resources, in connection with its previously announced acquisition of 80% of the issued and outstanding membership interests in MM Group, has entered into a credit facility agreement dated Nov. 29, 2024, pursuant to which the company has agreed to advance to MMG up to an aggregate of $950,000.
The loan bears interest at a rate of 8% per annum and matures on July 30, 2025. The repayment of the loan is secured against the assets of MMG and is subsidiaries and guaranteed by certain MMG members. The company anticipates making a minimum initial advance on the loan of $250,000 in mid-December 2024, all in compliance with the policies of the TSX Venture Exchange.
