Gold Basin Resources Corporation (TSX-V:GXX) has secured an unsecured loan of US$500,000 from an arm's length lender, Charrua Capital.
The loan, carrying interest at 15% per annum, has a maturity date of 21 August 2025.
It will be advanced in two tranches - $250,000 is within 10 business days, and $250,000 some 60 days after the first tranche.
Proceeds from the financing will be used to support ongoing exploration activities, Bureau of Land Management claim maintenance fees and general working capital.