Laredo Oil, Inc.

6 Oct 2021capital raising announcement▼ Bad

On October 1, 2021, Laredo sold Geneva Roth Remark Holdings a convertible note with $114,125 principal, maturing October 1, 2022, and received $100,000 in net cash for general corporate purposes. The note carries 8% interest (22% on default). After 180 days Geneva Roth can convert it into shares at 75% of the average of the three lowest closing bids over the prior 15 trading days (capped at 4.99% ownership), so conversion would issue shares at a discount and dilute existing holders. It continues the pattern of small, costly note raises.

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28 July 2010capital raising announcement● Neutral

Laredo sold 1,000,000 shares and 750,000 five-year warrants (exercise price $0.50) to Seaside 88, LP for $500,000, or $0.50 per share, closing July 27, 2010; placement agent Sutter Securities received 225,000 similar warrants. This follows the June 2010 $300,000 convertible-note bridge and is a small equity raise. If Laredo fails to raise $5,000,000 in equity within six months, Seaside gets another 1,000,000 shares and the warrant price drops to $0.25, which would dilute other shareholders.

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