New Era Energy & Digital Secures $4 Million Loan Backed by Texas Real Estate
New Era Energy & Digital Inc. has entered into a secured promissory note agreement with individual shareholder Joel Solis and Aventus Properties LLC. Under the terms of the agreement, New Era Energy & Digital will provide a $4 million loan bearing interest at the lesser of 18% per annum, compounded annually, or the maximum non-usurious rate allowed by law. The loan is secured by a deed of trust on real properties located in Odessa and Pecos, Texas, with the security interests to be recorded in Ector and Reeves counties. The loan is set to mature on December 6, 2025, unless repaid earlier. The transaction received approval from the company's Audit Committee and Board of Directors, and includes a related Release Agreement as part of the deal.
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