VANCOUVER, BC / ACCESS Newswire / August 24, 2025 / Golden Lake Exploration Inc. ("Golden Lake" or the "Company") (CSE:GLM)(OTCQB:GOLXF) announces that it proposes to enter into an unsecured, convertible promissory note (the "Note") to borrow C$50,000 (the "Loan"). The Loan has a maturity date of December 31, 2025, 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 payments to the U.S. Bureau of Land Management to keep the Company's Jewel Ridge claims in good standing.
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
Toll Free: 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
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/golden-lake-announces-convertible-promissory-note-1064730
