GridAI extends $2M secured loan to Pronghorn Resources, with an option for a 10% equity stake

summarizeSummary

GridAI Technologies Corp. has extended a $2 million secured convertible loan to Pronghorn Resources, LLC, secured by all of Pronghorn's assets and convertible into a 10% equity stake upon default.

check_boxKey Events · Financing and Capital Events · GRDX

• $2M Secured Convertible Loan to Pronghorn

  On July 17, 2026, GridAI Technologies Corp. provided a $2,000,000 loan to Pronghorn Resources, LLC, documented by a Secured Convertible Promissory Note.

• Loan Secured by All Pronghorn Assets

  The loan is backed by a first-priority security interest in all assets of Pronghorn Resources, LLC, as outlined in the Security Agreement.

• Conversion Right: 10% Equity Stake on Default

  If an Event of Default occurs, GridAI may convert the outstanding amount into membership interests representing 10% of Pronghorn's fully diluted capitalization.

• Maturity by December 31, 2026

  The Note matures on the earlier of December 31, 2026, or a Change of Control Transaction, with interest accruing at 7% per annum from the Maturity Date.

auto_awesomeAnalysis · GRDX · Energy & Transportation

Despite a going-concern warning and a market cap of just $23 million, GridAI Technologies Corp. is deploying $2 million into a secured convertible loan to Pronghorn Resources. The deal, which carries a 7% interest rate and matures by year-end 2026, is backed by all of Pronghorn's assets. Should Pronghorn default, GridAI can convert the debt into a 10% equity stake, shifting its role from a cash-strapped operator to a creditor with potential upside. This move follows a recent $8.5 million private placement, suggesting management sees strategic value in deploying capital externally even as it navigates its own financial fragility.