Aguia Resources (ASX:AGR) has received a loan of AU$1.5 million, in the form of convertible notes, due July 31, 2026, from unrelated lenders, according to a Wednesday filing with the Australian bourse.
The loan carries a 10% interest rate per annum and can be converted into shares at an issue price of AU$0.035 per share, the filing said.
Proceeds will be used for drilling and exploration of the company's projects and for general working capital, the filing added.
The company will also issue options, equal to the number of shares that would be issued to repay the loan, exercisable at AU$0.045, with a three-year expiry.
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