Pulse Oil Corp. Announces Facility Agreements Totaling $2,250,000

Core Viewpoint - Pulse Oil Corp. has secured a total of $2,250,000 in loans from related parties to fund its Bigoray Enhanced Oil Recovery (EOR) project, specifically for a solvent injection program [1][2][4]. Loan Details - The loans will be disbursed in two tranches of $1,125,000 each, with an interest rate of 15% per annum, compounded monthly [2]. - The company will make fixed partial interest payments of $10,000 quarterly starting September 30, 2025, with the remaining principal and interest due by June 4, 2027 [2][4]. - An establishment fee of $112,500, which is 5% of the loan amount, will be added to the principal and will also accrue interest at the same rate [4]. Security Agreement - A general security agreement has been established, granting the lenders a security interest in the company's assets until all obligations are fulfilled [3]. Related Party Transaction - The loans are classified as a "related party transaction" under Multilateral Instrument 61-101, with the company relying on an exemption due to its financial difficulties [5]. Project Impact - The funds will be used to purchase solvent for the Bigoray EOR project, with injection expected to commence in Q2 2025 [4][7]. - The CEO highlighted the strategic timing of the funding, as solvent prices are currently low, allowing the company to maximize its cash flow [7]. Company Background - Pulse Oil Corp. holds a 100% working interest in the Bigoray EOR project, which includes two established Nisku pinnacle reef reservoirs that have been producing oil for over 40 years [12]. - The company has implemented a proven recovery methodology (NGL solvent injection) to enhance oil recovery, with a current recovery factor of approximately 30% from the pools [13].