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Super Lithium Corp. — Capital/Financing Update 2025
May 20, 2025
48567_rns_2025-05-20_be7d7f8c-1b9e-4959-987f-d2490d658028.pdf
Capital/Financing Update
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CONVERTIBLE PROMISSORY NOTE
DATED as of March 31, 2025.
TO: Yari Nieken
2141 Grand Boulevard
North Vancouver, BC V7L 3Y8
(the "Lender")
This convertible promissory note amends the original note issued by Super Lithium Corp. dated January 4, 2024.
FOR VALUE RECEIVED, we, Super Lithium Corp., of 215 – 2678 McCallum Road, Abbotsford, British Columbia, V2S 6X3, (the "Company"), promise to pay to the Lender, at the address specified above, the Principal and all accrued Interest on the Maturity Date. No payment shall be due on the Maturity Date if the Principal and Interest owing is converted into Shares of the Company as described below.
The following are the terms and conditions of the Note:
- Principal amount: $14,000 received by the Company on January 4, 2024 (the "Payment Date")
- Maturity date: This Note shall mature on September 4, 2026.
- Interest: Interest shall be payable on the Principal owing under this Note at a fixed rate of simple interest of 10%. Interest shall be calculated in arrears monthly, commencing on the December January 4, 2024 and continuing until the entire Principal amount is paid in full.
- Payment: Unless otherwise converted in accordance with paragraph 5 below, the Company shall pay all Principal and Interest in full to the Lender on the Maturity Date.
- Conversion: At any time from the date of this Note until the Maturity Date, the Lender, at his sole option, may convert the Principal outstanding and all accrued Interest into common shares (the "Shares") in the capital stock of the Company. Each $0.10 of Principal and Interest outstanding may be converted into one Share.
- Further Assurances: The Company and Lender agree to do or cause to be done all acts or things necessary to implement and carry into effect the
2
provisions of and the intent of this Note.
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Currency:
All funds and dollar amounts referred to in this Note are in the lawful currency of Canada. -
Jurisdiction:
This Note shall be interpreted in accordance with the laws in effect from time to time in the Province of British Columbia. -
Resale Restrictions:
The Lender agrees and acknowledges that he or she will comply with all securities laws relating to resale restrictions imposed upon the Shares in all applicable jurisdictions, including British Columbia. All share certificates issued upon the conversion of the Principal and accrued Interest will bear such restrictive legends as required by law.
IN WITNESS WHEREOF this Promissory Note has been executed as of the day and year first above written.
SUPER LITHIUM CORP.
per: “Christopher Paterson”
Authorized Signatory
Acknowledged and agreed this 31st Day of March, 2025
“Yari Nieken”
Yari Nieken