GridAI faces lender demand for $1.01 million after revolving loan maturity default

PUBT·04/24/2026 20:04:48

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GridAI received a demand letter on April 1, 2026 alleging default under its Revolving Loan Agreement with 1396974 BC Ltd. because the Jan. 31, 2026 maturity date passed without repayment.
Lender demanded USD 1.01 million, including USD 700,000 principal, accrued interest, and a 20% default increase under the agreement’s terms.
GridAI is evaluating the impact of the alleged default while holding discussions with the lender.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. GridAI Technologies Corp. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-048549), on April 24, 2026, and is solely responsible for the information contained therein.

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