(TheNewswire)
Calgary, Alberta – TheNewswire - November 10, 2022 - Guardian Exploration Inc. ( TSXV:GX) (OTC:GXUSF) (Frankfurt:R6B) (the “ Corporation ” or“ Guardian ”) announces that it has entered into a loan agreement (the“Loan Agreement”) with Deckland Inc. and Guardian Helicopters Inc.(collectively, the “Lenders”) for the provision by the Lenders ofa revolving loan of up to an aggregate principal amount of $800,000 tobe drawn down as required to be used by the Corporation to fundworking capital requirements.
Under the Loan Agreement, the Lenders may advance orre-advance funds from time to time provided that the maximum amountdrawn shall not exceed $800,000. All loan obligations under the LoanAgreement shall be repaid to the Lenders in full on demand. The loanis unsecured. No bonus securities will be granted to the Lenders forproviding the loan.
Amounts advanced under the loan shall bear interest of15% per annum calculated on the daily balance of the amount owing andpayable as mutually agreed until payment in full of all amounts due orowing have been paid.
The Lenders are both Alberta-based private corporationsthat are wholly-owned by Graydon Kowal, the President, CEO and adirector of the Corporation. The loan is considered a "RelatedParty Transaction" under MultilateralInstrument 61-101 – Protection of Minority Security Holders in SpecialTransactions (“ MI 61-101 ”). TheCorporation relied upon the exemptions from the minority shareholderapproval and valuation requirements set out in Sections 5.7(1)(a) and5.5(a), respectively, of MI 61-101. The loan was approved by theu nanimous resolution of the disinteresteddirectors of the Corporation. Graydon Kowal abstained from voting inrespect of the resolution. The Corporation hastoday filed a material change report in accordance with MI 61-101 inconnection with the completion of the Transaction.
About Guardian ExplorationInc.
Guardian is a TSX-V listed company (TSXV: GX) (OTCQB: GXUSF) (Frankfurt: R6B) in the business of oil and gas as well as mineral explorationand development. Guardian ’ s first prospectis the Mount Cameron Property located in the Yukon’ s Mayo MiningDistrict. Guardian also holds mineral claims located on southernDall Island, southeast Alaska, USA, known as the Kaigani claims, whichit acquired in February 2022.
FOR FURTHER INFORMATION, PLEASECONTACT:
Graydon Kowal
President and CEO
(403) 730-6333
Trading in thesecurities of Guardian Exploration Inc. should be considered highlyspeculative. Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
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