PepinNini Minerals Limited (AU:PNN) has released an update.
Power Minerals Limited has issued a default notice to Ultra Lithium Inc. for failing to repay a debt of over one million Australian dollars, following a previously attempted but unresolved business transaction. The debt accrued from an interest-bearing loan provided under a convertible loan agreement, and Power Minerals is now seeking to enforce its rights to recover the outstanding amount and additional interests. This financial move by Power Minerals highlights its proactive stance on loan repayment and the protection of its investments.
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