MMEX swaps past-due convertible notes for non-convertible note with GS Capital worth $1.38 million

MMEX Resources entered a financing agreement with GS Capital Partners effective Sept. 15, 2026, exchanging past-due convertible notes for a new note.

The new non-convertible note is set at an original principal amount of $1.38 million, replacing $1.64 million of past-due balances.

Maturity is set for the earlier of Sept. 1, 2027 or the close of construction debt financing or project equity financing for either project subsidiary.

A make-whole payment of $247,889.67 is due in lieu of interest, equal to 18% of the principal balance.

The transfer agent was instructed to cancel a reserve of about 15,000,000,000 common shares previously held for potential note conversions.