Golden Lake Announces Convertible Promissory Note

Rhea-AI Summary

Golden Lake (OTC PINK: GOLXF; CSE: GLM) entered an unsecured convertible promissory note to borrow C$165,000 with a maturity date of October 29, 2026. The Loan accrues interest at 10% per annum from issue date, subject to earlier conversion. The outstanding amount is convertible into common shares at a conversion price of $0.05 per share. Any shares issued on conversion will be subject to a statutory hold period of four months and a day. The company intends to use the proceeds for advance royalty payments under its Option Agreement with Greenlane Resources Ltd.

Positive

• Provides C$165,000 immediate funding for advance royalty payments
• Conversion feature may reduce near-term cash outflow if converted

Negative

• Potential dilution of up to 3,300,000 common shares if fully converted
• Loan accrues 10% annual interest until maturity if not converted

News Market Reaction

-21.37%

1 alert

-21.37% News Effect

On the day this news was published, GOLXF declined 21.37%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Convertible loan size: C$165,000 Interest rate: 10% per annum Maturity date: October 29, 2026 +2 more

5 metrics

Convertible loan size C$165,000 Unsecured convertible promissory note

Interest rate 10% per annum Accrued on the Loan from issue date

Maturity date October 29, 2026 Loan term end, subject to earlier conversion

Conversion price $0.05 per share Price for converting Loan into common shares

Hold period Four months and a day Statutory hold on any shares issued on conversion

Market Reality Check

Price: $0.0894 Vol: Volume 49,900 vs 20-day a...

normal vol

$0.0894 Last Close

Volume Volume 49,900 vs 20-day average 43,639 (relative volume 1.14x) shows only modest pickup. normal

Technical Price 0.0327 is trading above 200-day MA at 0.03, indicating a slightly constructive longer-term trend pre-news.

Peers on Argus

Peers in Other Industrial Metals & Mining showed mixed moves, from -5% (GZDIF) t...

Peers in Other Industrial Metals & Mining showed mixed moves, from -5% (GZDIF) to +52.54% (LBSR), with others between 0% and +7%, suggesting stock-specific factors rather than a broad sector move.

Historical Context

1 past event · Latest: Dec 03 (Neutral)

1 events

Date	Event	Sentiment	Move	Catalyst
Dec 03	Convertible financing	Neutral	-21.4%	Unsecured convertible note with 10% interest and $0.05 conversion price.

Recent Company History

This announcement detailed Golden Lake’s unsecured convertible promissory note for C$165,000, maturing on October 29, 2026 and accruing 10% annual interest. The note is convertible into common shares at $0.05 per share, with any issued shares subject to a four months and a day statutory hold period. Proceeds are intended for advance royalty payments under the Greenlane Resources option. Around this disclosure, the stock showed a -21.37% 24-hour move, indicating a negative reaction to the financing terms.

Market Pulse Summary

The stock dropped -21.4% in the session following this news. A negative reaction despite neutral-to-...

Analysis

The stock dropped -21.4% in the session following this news. A negative reaction despite neutral-to-technical financing terms fits a pattern where investors focused on dilution and cost of capital. The unsecured convertible note of C$165,000 at 10% interest and a $0.05 conversion price increases overhang from possible share issuance. With prior news also seeing notable downside after this announcement, sentiment around funding structures and balance-sheet pressure could have amplified selling interest.

Key Terms

convertible promissory note, common shares, statutory hold period

3 terms

convertible promissory note financial

"announces that it has entered into an unsecured, convertible promissory note"

A convertible promissory note is a loan a company takes now that can later be turned into shares instead of being repaid in cash. Think of it as lending money with the option to accept ownership in the business down the road; that matters to investors because it affects who gets paid first, how much ownership existing shareholders keep, and the company’s future valuation and cash needs. Terms such as conversion price, interest and maturity determine the financial impact.

common shares financial

"convertible into common shares of the Company ("Common Shares") at a conversion price"

Common shares are the basic units of ownership in a company that give holders a claim on profits and a right to vote on key matters, like electing the board. Think of them as membership cards in a club: they let you share in successes and losses, but in a bankruptcy or liquidation they are paid after creditors and preferred shareholders, so their value can swing more and matters for assessing risk and potential return.

statutory hold period regulatory

"issued pursuant to the conversion of the Loan shall be subject to a statutory hold period"

A statutory hold period is a legally required time window during which newly issued securities or shares received by insiders cannot be sold. It matters to investors because it affects when those shares can enter the market, influencing supply, short-term liquidity and potential price pressure—think of it like a temporary “no-sell” tag that prevents an immediate flood of items onto a store shelf after a big restock.

AI-generated analysis. Not financial advice.

VANCOUVER, BC / ACCESS Newswire / December 3, 2025 / Golden Lake Exploration Inc. ("Golden Lake" or the "Company") (CSE:GLM)(OTC PINK:GOLXF) announces that it has entered into an unsecured, convertible promissory note (the "Note") to borrow C$165,000 (the "Loan"). The Loan has a maturity date of October 29, 2026, and shall accrue interest at a rate of 10% per annum from the issue date, subject to earlier conversion.

The amount outstanding under the Loan is convertible into common shares of the Company ("Common Shares") at a conversion price of $0.05 per share. Any Common Shares issued pursuant to the conversion of the Loan shall be subject to a statutory hold period of four months and a day from the date of issuance in accordance with applicable securities law and the policies of the Canadian Securities Exchange. The Company intends to use the Loan for advance royalty payments owned under its Option Agreement with Greenlane Resources Ltd.

About Golden Lake Exploration Inc:

Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property.

ON BEHALF OF THE BOARD

"Mike England"

Mike England, CEO & DIRECTOR

FOR FURTHER INFORMATION PLEASE CONTACT: Telephone: 1-604-683-3995
TollFree: 1-888-945-4770

Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Golden Lake Exploration Inc.

View the original press release on ACCESS Newswire

FAQ

What did Golden Lake (GOLXF) announce on December 3, 2025?

Golden Lake announced an unsecured convertible promissory note to borrow C$165,000 with 10% interest and maturity on October 29, 2026.

At what price can the GOLXF loan be converted into common shares?

The outstanding loan amount is convertible at a conversion price of $0.05 per share.

How many shares could GOLXF issue if the C$165,000 note is fully converted?

If fully converted at $0.05, the loan could convert into up to 3,300,000 common shares.

What will Golden Lake use the proceeds of the C$165,000 loan for?

The company intends to use the Loan for advance royalty payments under its Option Agreement with Greenlane Resources Ltd.

Are converted GOLXF shares restricted after issuance?

Yes; any shares issued on conversion will be subject to a statutory hold period of four months and a day.