Hercules Enters into Loan Agreement
Vancouver, BC, January 6th, 2025 – Hercules Resources Corp. (CSE: HERC) (“Hercules” or the “Company”), is pleased to announce that it has entered into a loan agreement (the “Agreement”) with one lender (the “Lender”), whereby the Lender has agreed to loan (the “Loan”) the aggregate principal amount of $60,000 to the Company. The Loan will bear interest at the rate of 8% per annum from and including the date of the advance (the “Advance Date”) to and including the date all the Company’s Loan and interest indebtedness (the “Indebtedness”) is paid in full. Interest will be calculated on the basis of a 360-day year, based on the number of days elapsed and shall accrue daily commencing on the Advance Date until payment in full by the Company of the Indebtedness. The Loan will mature (the “Maturity Date”) on the date that is the earlier of: (i) the date that is twelve (12) months following the Advance Date; and (ii) such other date as the Lender and the Company may mutually agree on, in writing. The term of the Loan will commence on the Advance Date and mature on the Maturity Date. Unless otherwise agreed between the Company and the Lender, the Agreement will end earlier than the Maturity Date upon full repayment of the Indebtedness or upon demand by the Lender.
About Hercules:
Hercules is a Canadian resource exploration company engaged in the acquisition, exploration and development of high potential mineral assets with the aim to develop concessions into production.
The company is dedicated to delivering value to its stakeholders through innovation, operational excellence, and sustainable practices. For more information, visit www.herculesresourcescorp.com.
Michael Smith, President, and Chief Executive Officer [email protected] (855) 791-GOLD (4653)
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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