Teako Minerals Corp Bolsters Finances with Shareholder Loan

1111 Exploration Corp (TSE:TMIN) has released an update.

Teako Minerals Corp has secured a C$400,000 loan from its largest shareholder, Fruchtexpress Grabher GmbH & Co KG, with a 4.0% per annum interest rate and a 2029 maturity date. The funds will support the company’s exploration efforts in Norway and provide working capital. The loan, backed by a pledge of shares, offers flexible repayment options, including share conversion and prepayment without penalties.

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