Nickel North Exploration Corp (TSX-V:NNX) announced that it has entered into a loan agreement with its major shareholder SinoTech for a $100,000 one-year loan.
The Canada-based explorer said the principal amount will bear interest at a fixed rate of 10% per year.
It said the loan is unsecured and it did not pay any bonus to SinoTech in relation to the loan.
SinoTech is a wholly owned subsidiary of Sinotech Minerals Exploration and owns approximately 50.253% of Nickel North’s issued common shares.
Separately, the company said it has renewed 15 mineral claims from its Hawk Ridge project in Northern Quebec to April 30, 2026, or June 4, 2026.
It said it can use its working credits to renew another 233 mineral claims to 2026 in June.