Sky Quarry issues $3.99 million promissory note to Libertas Funding to refinance merchant cash advance debt

Sky Quarry, Inc.

Sky Quarry, Inc.

SKYQ

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  • Sky Quarry entered a Conversion and Exchange Agreement with Libertas Funding on June 29, 2026, replacing merchant cash advance obligations with a promissory note.
  • Promissory note principal set at $3.99 million, interest at 8% per year, repaid through escalating weekly payments with principal paid first.
  • Legacy merchant cash advance agreements were cancelled, satisfied, and extinguished; Libertas issued a general release tied to those obligations.
  • Existing liens securing the prior obligations remain in place to secure the note; limits imposed on selling future receivables or material assets without consent.
  • Interim CEO Marcus Laun provided a personal guarantee; the company agreed to indemnify him, including 8% interest on any reimbursement.


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