An announcement from MetaWorks Platforms (MWRK) is now available.
On June 11th, 2024, a Convertible Loan Agreement was signed for $375,000 with a 10% interest rate, maturing on June 11th, 2025. This loan can be converted into common stock at $0.025 per share, either at the holder’s discretion or, in the event of a default, the outstanding loan increases by 30% and can be similarly converted. If the company opts to repay in cash during a default, they must pay 130% of the principal plus any accrued interest. The issuance of this loan and subsequent stock conversion relies on specific exemptions from the Securities Act of 1933.
See more insights into MWRK stock on TipRanks’ Stock Analysis page.
