Exhibit 6.5

Company Legal Name: RED RESORT LIMITED PARTNERSHIP

Document Name: LF986-Advice of Loan Terms

Customer Tracking ID: B20093281901020

Transaction ID: MOD-301815351

ATTENTION:

Please do not remove or discard this sheet and ensure that it is returned with the attached document(s).

Further to our conversation, we are pleased to confirm your instructions for the following term loan renewal of the credit facility which is as subject to the terms of our Letter of Agreement: Latest re-instated LF985 (17/MAR/2025).

Date: April 04, 2025

Borrower Name: RED RESORT LIMITED PARTNERSHIP

Loan Type: Fixed Rate Term Loan

Loan Advance Amount: $3,116,517.08 CAD

Requested Date of Advance: April 04, 2025

Funds to be Credited to: 0755-6999-528

Interest Rate: 5.94% per annum

Thank you for your business, and I look forward to continuing to work with you to meet your financial goals.

LF986 (Jan 2023)

Page 1 of 2

For renewals: RED RESORT LIMITED PARTNERSHIP

LF986 (Aug 2020)

Page 2 of 2

Company Legal Name: RED RESORT LIMITED PARTNERSHIP

Document Name: LF986-Advice of Loan Terms

Customer Tracking ID: B20093281901020

Transaction ID: MOD-301626645

ATTENTION:

Please do not remove or discard this sheet and ensure that it is returned with the attached document(s).

Further to our conversation, we are pleased to confirm your instructions for the following term loan renewal of the credit facility which is as subject to the terms of our Letter of Agreement: original LF984 dated (22/09/2017)

Date: April 04, 2024

Borrower Name: RED RESORT LIMITED PARTNERSHIP

Loan Type: Fixed Rate Term Loan

Loan Advance Amount: $3,289,656.92 CAD

Requested Date of Advance: April 04, 2024

Funds to be Credited to: NA-FRTL Renewal

Interest Rate: 7.23% per annum

For renewals: [Please sign below].

Thank you for your business, and I look forward to continuing to work with you to meet your financial goals.

LF986 (Jan 2023)

Page 1 of 2

	For renewals: RED RESORT LIMITED PARTNERSHIP
	Signature:	/s/ Dyne Parker
	Name:	Dyne Parker
	Title:	Authorized Signatory
	Signature:	/s/ Donald Thompson
	Name:	Donald Thompson
	Title:	Authorized Signatory

LF986 (Aug 2020)

Page 2 of 2

Company Legal Name: RED RESORT LIMITED PARTNERSHIP

Document Name: LF986-Advice of Loan Terms

Customer Tracking ID: B20093281901020

Transaction ID: MOD-301815363

ATTENTION:

Please do not remove or discard this sheet and ensure that it is returned with the attached document(s).

Further to our conversation, we are pleased to confirm your instructions for the following term loan renewal of the credit facility which is as subject to the terms of our Letter of Agreement: Latest re-instated LF985 (17/MAR/2025).

Date: April 04, 2025

Borrower Name: RED RESORT LIMITED PARTNERSHIP

Loan Type: Fixed Rate Term Loan

Loan Advance Amount: $511,958.44 CAD

Requested Date of Advance: April 04, 2025

Funds to be Credited to: 0755-6999-501

Interest Rate: 5.94% per annum

Thank you for your business, and I look forward to continuing to work with you to meet your financial goals.

LF986 (Jan 2023)

Page 1 of 2

LF986 (Aug 2020)

Page 2 of 2

Company Legal Name: RED RESORT LIMITED PARTNERSHIP

Document Name: LF986-Advice of Loan Terms

Customer Tracking ID: B20093281901020

Transaction ID: MOD-301624897

ATTENTION:

Please do not remove or discard this sheet and ensure that it is returned with the attached document(s).

Further to our conversation, we are pleased to confirm your instructions for the following term loan renewal of the credit facility which is as subject to the terms of our Letter of Agreement: original LF984 dated (22/09/2017)

Date: April 04, 2024

Borrower Name: RED RESORT LIMITED PARTNERSHIP

Loan Type: Fixed Rate Term Loan

Loan Advance Amount: $682,611.28 CAD

Requested Date of Advance: April 02, 2024

Funds to be Credited to: NA-FRTL Renewal

Interest Rate: 7.23% per annum

For renewals: [Please sign below].

Thank you for your business, and I look forward to continuing to work with you to meet your financial goals.

LF986 (Jan 2023)

Page 1 of 2

LF986 (Aug 2020)

Page 2 of 2

Company Legal Name: RED RESORT LIMITED PARTNERSHIP

Document Name: LF985 - Letter of Agreement – Amendment & Restatement

Customer Tracking ID: B20093281901020

Application ID: 200458695

ATTENTION:

Please do not remove or discard this sheet and ensure that it is returned with the attached document(s).

1498 BAY AVENUE,

TRAIL, BC V1R 4B1

March 17, 2025

RED RESORT LIMITED PARTNERSHIP

ROSSLAND, BRITISH COLUMBIA V0G 1Y0

Attention: HOWARD KATKOV, DONALD THOMPSON AND DYNE PARKER

LETTER OF AGREEMENT – AMENDMENT & RESTATEMENT

Bank of Montreal (together with BMO Bank N.A. and Bank of Montreal’s other affiliates and their respective successors who are owed any present or future debts, liabilities or obligations by the Borrower, collectively “BMO”) is pleased to provide this amended and restated Letter of Agreement with respect to the credit Facilities (each a “Facility” and collectively, the “Facilities”) described herein. The letter (the “Letter of Agreement”) amends and restates the existing Letter of Agreement dated March 5, 2024 (the “Prior Letter”). The Facilities are offered (or continue to be offered, as applicable) on the terms and conditions set out in this Letter of Agreement. The Schedules listed below and attached form part of this Letter of Agreement. Capitalised terms used but not defined have the meanings ascribed to them in Schedule E.

Notwithstanding any other provision of this Letter of Agreement or in any applicable agreements:

	LF985 (May 2024)	Page 1 of 34

 

Your Product Summary

Facility/ Facilities:

Your Product Details

Non-Revolving Facility - Shared limit/Multi-product/Multi-draw

	LF985 (May 2024)	Page 2 of 34

 

Your Product Summary

	LF985 (May 2024)	Page 3 of 34

 

Your Product Summary

Non-Revolving Facility - Shared limit/Multi-product/Multi-draw

	LF985 (May 2024)	Page 4 of 34

 

Your Product Summary

	LF985 (May 2024)	Page 5 of 34

 

Your Product Summary

Revolving Facility - Shared limit/Multi-product/Multi-draw

	LF985 (May 2024)	Page 6 of 34

 

Your Product Summary

	LF985 (May 2024)	Page 7 of 34

 

Your Product Summary

Non-Revolving Facility - Shared limit/Multi-product/Multi-draw

	LF985 (May 2024)	Page 8 of 34

 

Your Product Summary

	LF985 (May 2024)	Page 9 of 34

 

Your Product Summary

BMO Corporate MasterCard

	LF985 (May 2024)	Page 10 of 34

 

Terms and Conditions

Conditions Precedent to Advances:

The Facility(ies) may only be made available in BMO’s discretion and will, in any event, require of the conditions set out below has to be completed to BMO’s satisfaction.

Security:

All present and future debts, liabilities and obligations of the Borrower under the Facilities owed to Bank of Montreal, BMO Bank N.A. and Bank of Montreal’s other affiliates and their respective successors will be secured by the following documents, instruments, agreements and other assurances (collectively, the “Security”), which shall be delivered to BMO prior to any Advance of funds, in form and substance acceptable to BMO and its solicitors, acting reasonably:

Security Held:

	LF985 (May 2024)	Page 11 of 34

 

Terms and Conditions

Security to be Released :

Partial Security Release : release of 0.34 Acres from PID 012 040 134, Red Mountain Road, Rossland, BC.

Legally described as Parcel A, Plan NEPX60, Sublot 28, Township 28, Kootenay Land District, (see 21298I) Exc (1) PT Lying S of a line Parallel to & 5 Chains Distant from Sly Bndy & W of a line parallel to & 20 Chains Distract FR ELY BNDY & (2) PL 5201 5552 6874 NEP 79845 NEP88.

Any other documents, instruments or agreements as may be required by BMO, acting reasonably to the extent permitted by law, and despite anything to the contrary in any particular Security document: (a) all present and future debts, liabilities and obligations of the Borrower to Bank of Montreal, BMO Bank N.A. and Bank of Montreal’s other affiliates and their successors under the Facilities and all indemnity obligations owed by Bank of Montreal to any of its affiliates related to the Facilities will be secured by the Security, and (b) Bank of Montreal will hold all Security as agent for itself and for its affiliates who are owed any present or future debts, liabilities or obligations in connection with any Facility.

Covenants

As long as any Advance remains outstanding under or in connection with this Letter of Agreement, or so long as any commitment under this Letter of Agreement remains in effect, the Borrower and any Guarantor will perform and comply with the covenants set out in Schedule A.

Financial Covenants:

In addition, the Borrower and each Guarantor, as applicable, will perform and comply with the following financial covenants, based on financial statements of the Borrower or applicable Guarantor:

	LF985 (May 2024)	Page 12 of 34

 

Terms and Conditions

Additional Covenants:

In addition, the Borrower and each Guarantor, as applicable, will perform and comply with the following covenants:

Reporting Requirements:

A $100 per month fee will be applied for non compliance with reporting requirements. The application of this fee does not waive the Default condition.

Prompt notification of management letters, Default notices, Litigation, and any other material events

Satisfactory evidence that all Taxes (including, without limitation, GST, HST, sales tax, withholdings, etc.) have been paid to date

Representations and Warranties:

The Borrower and each Guarantor, as applicable, makes the representations and warranties set out in Schedule B. All representations and warranties of the Borrower and any Guarantor, in addition to any representation or warranty provided in any document executed in connection with a Facility or any Security, shall be true and correct on the date of this Letter of Agreement and on the date of any Advance under a Facility.

Noteless Advances:

The Borrower acknowledges that the actual recording of the amount of any Advance or repayment thereof under the Facilities, and interest, fees and other amounts due in connection with the Facilities, in an account of the Borrower maintained by BMO, shall constitute prima facie evidence of the Borrower’s indebtedness and liability from time to time under the Facilities; provided that the obligation of the Borrower to pay or repay any indebtedness and liability in accordance with the terms and conditions of the Facilities set out in this Letter of Agreement shall not be affected by the failure of BMO to make such recording. The Borrower also hereby acknowledges being indebted to BMO for principal amounts shown as outstanding from time to time in BMO’s account records, and all accrued and unpaid interest in respect thereto, which principal and interest the Borrower hereby undertakes to pay to BMO in accordance with the terms and conditions applicable to the Facilities as set out in this Letter of Agreement.

	LF985 (May 2024)	Page 13 of 34

 

Terms and Conditions

Fees:

All costs and expense incurred by BMO in connection with this Letter of Agreement and the Facilities (including without limitation all legal, appraisal, consulting, and registration fees), and the enforcement of the Security are for the account of the Borrower.

A one-time fee (“Fee”) of $ 1,000 is payable by the Borrower to BMO upon acceptance of this Letter of Agreement. This fee is deemed to be earned by BMO upon acceptance of this Letter of Agreement, to compensate for time, effort and expense incurred by BMO in authorizing these Facilities.

Annual credit renewal fees are payable to BMO each year. At the date of this letter, such fees are $3,750. Each year, the amount of such annual credit renewal fees will be the same as the prior year unless BMO provides prior written notice that such annual credit renewal fees are changing from the prior year. If BMO provides such notice, then the annual credit renewal fees for that year and each subsequent year will be as described by BMO until and unless BMO provides prior written notice that such annual credit renewal fees are changing.

All fees payable under this Letter of Agreement shall be paid to BMO on the dates due, in immediately available funds. Fees paid shall not be refundable except in the case of manifest error in the calculation of any fee payment.

If the total Advances exceed the Facility Authorization, the excess will bear interest at the Overdraft Rate, which is currently 21.0% per annum. BMO shall also be entitled to charge the Borrower a fee of $100 each time an excess is created.

If the Borrower requests or requires any amendment to this agreement or any other Loan Document, BMO shall be entitled to an amendment fee of at least $100 per amendment, in addition to all other fees, costs and charges payable by the Borrower.

Cancellation

The cancellation period is 3 business days. The cancellation period is the period in which the borrower can close the new loan(s) established in this agreement. BMO will provide a notice acknowledging the cancellation and outlining any amounts and expenses owed to BMO and any amount that BMO will return to the Borrower in relation to the use of the Loan. The Borrower’s cancellation right for a loan or line of credit is in addition to any repayment rights under this agreement. The Borrower has no cancellation right for a credit card.

Banking Services:

The Borrower shall maintain its Bank Accounts, solely with the BMO. Borrower acknowledges that the pricing (including interest, fees and charges) contained in this Letter of Agreement is contingent on the Borrower maintaining all of its operating accounts with BMO. If the Borrower does not do so, BMO may, at any time, in its sole discretion and without any requirement to obtain the agreement of, or provide prior notice to the Borrower, increase such pricing.

Treasury & Payment Solutions:

BMO will provide Non-Credit and treasury & payment solutions to the Borrower. A Treasury & Payment Specialist will contact the Borrower to implement BMO’s On-Line Banking for Business platform (OLBB) and discuss additional treasury & payment features such as Electronic Funds Transfer (EFT), Wire Payments, BMO DepositEdge® and Moneris® Payment Processing Solutions. BMO’s objective is to provide a package of services that are tailored to meet both the current and future needs of the Borrower in a cost efficient operating environment.

	LF985 (May 2024)	Page 14 of 34

 

Terms and Conditions

Commercial Loan Insurance Plan:

You understand that unless you submit an Application for Commercial Loan Insurance Plan (“Application”), and it has been approved by Canada Life as the insurer, you will not be covered under the Commercial Loan Insurance Plan for any facilities under this Letter of Agreement and would be ineligible to submit a claim should you undergo an insurable event.

Counterparts; Electronic Transmissions:

This agreement may be executed in any number of counterparts with the same effect as if all parties hereto had all signed the same document. Any counterpart of this Agreement may be executed and circulated by facsimile, PDF or other electronic means and any counterpart executed and circulated in such a manner shall be deemed to be an original counterpart of this Agreement. All counterparts shall be construed together and shall constitute one and the same original agreement.

Governing Law:

British Columbia and the federal Laws of Canada applicable therein.

Schedules:

The following Schedules are attached to and form part of this letter of agreement: Schedule A – Covenants

Schedule B – Representations and Warranties

Schedule C – Additional Conditions Precedent to Advances

Schedule D – Additional Terms

Schedule E – Definitions

BMO’s Legal Counsel: N/A

	LF985 (May 2024)	Page 15 of 34

 

Agreement and Consent

This Letter of Agreement amends and restates, without novation, the Prior Letter, as of March 17, 2025[, without prejudice to the effect of the terms of the Prior Letter or to any actions taken under or pursuant to the Prior Letter prior to such date. The entry into effect of this Letter of Agreement shall not be deemed to waive or limit any of BMO’s rights in respect of any Event of Default then existing under the Prior Letter or any Event of Default under this Letter of Agreement which exists because of matters occurring prior to such effective date, whether or not known to BMO.

Notwithstanding anything in the Security to the contrary, all Security granted to BMO shall, to the extent permitted by law, be held by BMO as agent for itself and its affiliates who are at any time owed any debts, liabilities or obligations under or in connection with the Facilities or the Letter of Agreement. All such obligations shall rank pari passu and shall be ratably secured by all Security.

The Borrower and each Guarantor acknowledges, confirms, and agrees that:

In accepting this agreement you acknowledge that if, in the opinion of BMO, a material adverse change in risk occurs including, without limitation, any material adverse change in the financial condition, business, property or prospects of the Borrower or any Guarantor, the rights and remedies of BMO, or the ability of the Borrower or any Guarantor to perform its Obligations to BMO, any obligation to Advance some or all of the above Facilities may be withdrawn or cancelled.

Please indicate your acceptance of the terms and conditions hereof by signing and returning one copy of this Letter of Agreement (and making payment of the above noted fee, if applicable) to BMO no later than [April 15, 2025]. If your acceptance of this Letter of Agreement is not received by BMO by that date, BMO shall have no obligation to proceed with any of the Facilities.

Accepted and agreed to this _____ day of _________________, 2024

                                                             (Day)                             (Month)             (Year)

	LF985 (May 2024)	Page 16 of 34

 

Agreement and Consent

	LF985 (May 2024)	Page 17 of 34

 

Agreement and Consent

	LF985 (May 2024)	Page 18 of 34

 

Schedules

SCHEDULE A

COVENANTS

If, for the purposes of obtaining judgment in any court in any jurisdiction with respect to this Letter of Agreement, it becomes necessary to convert into a particular currency (the “Judgment Currency”) any amount due under this Letter of Agreement in any currency other than the Judgment Currency (the “Currency Due”), then conversion shall be made at the rate of exchange prevailing on the Business Day before the day on which judgment is given. For this purpose “rate of exchange” means the rate at which BMO is able, on the relevant date, to purchase the Currency Due with the Judgment Currency in accordance with its normal practice at its principal office in Toronto, Ontario. If that there is a change in the rate of exchange prevailing between the Business Day before the day on which the judgment is given and the date of receipt by BMO of the amount due, the Borrower will, on the date of receipt by BMO, pay such additional amounts, if any, or be entitled to receive reimbursement of such amount, if any, as may be necessary to ensure that the amount received by BMO on such date is the amount in the Judgment Currency which when converted at the rate of exchange prevailing on the date of receipt by BMO is the amount then due under this Letter of Agreement in the Currency Due. If the amount of the Currency Due which BMO is so able to purchase is less than the amount of the Currency Due originally due to it, the Borrower and each Guarantor jointly and severally (solidarily) agree to indemnify BMO from and against any and all loss or damage arising as a result of such deficiency. This indemnity shall constitute an obligation separate and independent from the other Obligations contained in this Letter of Agreement, shall give rise to a separate and independent cause of action, shall apply irrespective of any indulgence granted by BMO from time to time and shall continue in full force and effect notwithstanding any judgment or order in respect of an amount due under this Letter of Agreement or under any judgment or order.

	LF985 (May 2024)	Page 19 of 34

 

Schedules

	LF985 (May 2024)	Page 20 of 34

 

Schedules

SCHEDULE B

REPRESENTATIONS AND WARRANTIES

	LF985 (May 2024)	Page 21 of 34

 

Schedules

SCHEDULE C

ADDITIONAL CONDITIONS PRECEDENT TO ADVANCES

	LF985 (May 2024)	Page 22 of 34

 

Schedules

SCHEDULE D

Additional Terms

	LF985 (May 2024)	Page 23 of 34

 

Schedules

	LF985 (May 2024)	Page 24 of 34

 

Schedules

	LF985 (May 2024)	Page 25 of 34

 

Schedules

	LF985 (May 2024)	Page 26 of 34

 

Schedules

	LF985 (May 2024)	Page 27 of 34

 

Schedules

	LF985 (May 2024)	Page 28 of 34

 

Schedules

	LF985 (May 2024)	Page 29 of 34

 

Schedules

	LF985 (May 2024)	Page 30 of 34

 

Schedules

REPLACEMENT MECHANICS:

BMO may issue simple notice of any Benchmark Replacement to the Borrower, however any Benchmark Replacement made under this Section will not be affected, conditional or prejudiced in any way if BMO does not provide any such notice.

Each outstanding loan based directly or indirectly on a Benchmark that is being replaced under this section (“Existing Loan”) will automatically convert to a loan under the new adjusted Benchmark (“Updated Loan”) upon the later to occur of (a) the maturity of the applicable interest period of the Existing Loan, and (b) the effective date of the Benchmark Replacement. The Updated Loan will be in the principal amount of all outstanding debt, interest, fees and other amounts of the Existing Loan on the conversion date and bear interest at a rate per annum based on the new Benchmark and taking into account any Applicable Margin, Conforming Changes, fees and other amounts. If, for any reason, an Existing Loan cannot be so converted, it will be deemed to have converted to a Prime Rate or Base Rate, as applicable, loan in the principal amount of all outstanding debt, interest, fees and other amounts of the Existing Loan on the conversion date.

	LF985 (May 2024)	Page 31 of 34

 

Schedules

	LF985 (May 2024)	Page 32 of 34

 

Schedules

SCHEDULE E

DEFINITIONS

“Advance” or “Loans” means an advance, continuation, or conversion (where applicable) of any loan or credit extended under this Agreement, as amended, restated, or renewed from time to time.

“Approvals” means, collectively, all material governmental, regulatory, third party or other approvals, authorizations, consents, rights, titles, interests, franchises, licenses, permits, privileges, qualifications and the like, and orders, registrations, declarations, publications, recordings, filings, notices and such other actions which, in each case, are necessary or desirable (i) for the ownership, lease, operation and normal conduct of the business, property, undertaking and assets of any Credit Party, or (ii) under or in connection with the Facilities and the Documentation (including the execution, delivery, performance, validity, enforceability and perfection (opposability) thereof).

“CORRA” Means the Canadian Overnight Repo Rate Average administered and published by the Bank of Canada (or any successor administrator).

“Credit Parties” means, collectively, the Borrower(s) and the Guarantor(s).

“Default” means a breach or default or event which, with the giving of notice or the passage of time or both, would constitute a breach or a default (whether as to the performance or fulfilment of any representations, warranties, covenants, obligations, or other provisions thereunder) under the applicable documentation (including the Documentation).

“Documentation” means, collectively, this Agreement (as amended, restated, or renewed from time to time), the Guarantee and Security (set forth below) and all other agreements and documents required to be delivered in connection with the Facilities or the transactions contemplated hereby.

“including” means including but without limitation.

“Laws” means all laws, statutes, regulations, rules, codes, orders, ordinances, treaties, conventions, judgements, awards, determinations, directives, orders, and decrees applicable to a Credit Party, its business, or its property, undertaking and assets, including, without limitation, environmental laws and pension plan and other employee plan matters.

“Litigation” means any judgment, writ of execution, order, notice of deficiency, injunction or directive rendered, and any notice of infraction, action, suit, proceeding, or investigation pending or threatened, in each case against a Credit Party or any of its property or assets.

“Material Contracts” means any contract or agreement entered into by any Credit Party in respect of which any material breach or default or any termination or non-renewal would reasonably be expected to have a Material Adverse Effect under clause (i) or (ii) of the definition thereof, as such contracts or agreements may be amended, supplemented, restated, replaced, or otherwise modified from time to time to the extent permitted under the Documentation.

“Material Adverse Effect” means a material adverse effect on (i) the business, assets, results of operations, prospects, or condition (financial or otherwise) of any Credit Party, (ii) the ability of each Credit Party to perform its obligations under the Documentation, or (iii) the legality, validity, binding nature, or enforceability of the rights, remedies, or recourses of BMO under any of the Documentation.

	LF985 (May 2024)	Page 33 of 34

 

Schedules

“Obligations” means all debts, liabilities and obligations owed to Bank of Montreal, BMO Bank N.A. and Bank of Montreal’s other affiliates and their successors under or in connection with the Facilities, this Letter of Agreement (as amended, restated or renewed from time to time) or any other Documentation (in principal, interest, fees, premiums, penalties, costs, losses, expenses and other charges) and includes any indemnity obligations owed by Bank of Montreal to any of its affiliates in relation to the Facilities.

“Prime Rate” means the rate of interest announced from time to time by BMO as its reference rate then in effect for determining rates of interest charged on Canadian dollar loans made to its customers in Canada and designated as its prime rate.

“Taxes” means all taxes, duties, assessments, imposts, levies and similar charges and claims imposed upon a Credit Party, its income, or profits, or upon any properties belonging to it (including, without limitation, corporate, GST, HST, sales tax, real property taxes and other withholdings, deductions, and related liabilities).

“Term CORRA Administrator” Means Candeal Benchmark Administration Services Inc., TSX Inc., or any successor administrator.

“Term CORRA” Means the forward-looking term rate based on CORRA (“Term CORRA Reference Rate”) for a period comparable to the applicable interest period of 1 or 3 months on the day (such day, the “Periodic Term CORRA Determination Day”) that is 2 Business Days prior to the first day of such interest period, as such rate is published by the Term CORRA Administrator; provided that if as of 1:00 p.m. (Toronto time) on any Periodic Term CORRA Determination Day the Term CORRA Reference Rate for the applicable period has not been published by the Term CORRA Administrator and a Benchmark Replacement Date with respect to the Term CORRA Reference Rate has not occurred, then Term CORRA will be the Term CORRA Reference Rate for such period as published by the Term CORRA Administrator on the first preceding Business Day for which such Term CORRA Reference Rate for such period was published by the Term CORRA Administrator so long as such first preceding Business Day is not more than 3 Business Days prior to such Periodic Term CORRA Determination Day.

“Term SOFR” Means, for an interest period of 1, 3 or 6 months, the rate per annum determined by BMO as the forward-looking term rate based on the secured overnight financing rate administered by the US Federal Reserve Bank of New York (or a successor administrator selected by BMO) that is 2 U.S. Government Securities Business Days before the start of the chosen interest period (or, if such rate is not ascertainable on such date, the immediately preceding U.S. Government Securities Business Day). Each determination of Term SOFR by BMO shall be conclusive and binding absent manifest error.

“US Base Rate” means the rate of interest announced from time to time by BMO as its reference rate then in effect for determining rates of interest charged on U.S. Dollar loans made to its customers in Canada and designated as its U.S. base rate.

	LF985 (May 2024)	Page 34 of 34

 

Company Legal Name: RED RESORT LIMITED PARTNERSHIP

Document Name: LF986-Advice of Loan Terms

Customer Tracking ID: B20093281901020

Transaction ID: MOD-301815363

ATTENTION:

Please do not remove or discard this sheet and ensure that it is returned with the attached document(s).

Further to our conversation, we are pleased to confirm your instructions for the following term loan renewal of the credit facility which is as subject to the terms of our Letter of Agreement: Latest reinstated LF985 (17/MAR/2025).

Date: April 04, 2025

Borrower Name: RED RESORT LIMITED PARTNERSHIP

Loan Type: Fixed Rate Term Loan

Loan Advance Amount: $511,958.44 CAD

Requested Date of Advance: April 04, 2025

Funds to be Credited to: 0755-6999-501

Interest Rate: 5.94% per annum

Thank you for your business, and I look forward to continuing to work with you to meet your financial goals.

LF986 (Jan 2023)

Page 1 of 2

For renewals: RED RESORT LIMITED PARTNERSHIP

LF986 (Aug 2020)

Page 2 of 2

Company Legal Name: RED RESORT LIMITED PARTNERSHIP

Document Name: LF986-Advice of Loan Terms

Customer Tracking ID: B20093281901020

Transaction ID: MOD-301815351

ATTENTION:

Please do not remove or discard this sheet and ensure that it is returned with the attached document(s).

Further to our conversation, we are pleased to confirm your instructions for the following term loan renewal of the credit facility which is as subject to the terms of our Letter of Agreement: Latest reinstated LF985 (17/MAR/2025).

Date: April 04, 2025

Borrower Name: RED RESORT LIMITED PARTNERSHIP

Loan Type: Fixed Rate Term Loan

Loan Advance Amount: $3,116,517.08 CAD

Requested Date of Advance: April 04, 2025

Funds to be Credited to: 0755-6999-528

Interest Rate: 5.94% per annum

Thank you for your business, and I look forward to continuing to work with you to meet your financial goals.

LF986 (Jan 2023)

Page 1 of 2

For renewals: RED RESORT LIMITED PARTNERSHIP

LF986 (Aug 2020)

Page 2 of 2

Company Legal Name: RED RESORT LIMITED PARTNERSHIP

Document Name: LF986-Advice of Loan Terms

Customer Tracking ID: B20093281901020

Transaction ID: MOD-301989344

ATTENTION:

Please do not remove or discard this sheet and ensure that it is returned with the attached document(s).

Further to our conversation, we are pleased to confirm your instructions for the following term loan renewal of the credit facility which is as subject to the terms of our Letter of Agreement: Latest reinstated LF985 (17/MAR/2025).

Date: April 06, 2026

Borrower Name: RED RESORT LIMITED PARTNERSHIP

Loan Type: Fixed Rate Term Loan

Loan Advance Amount: $341,305.60 CAD

Requested Date of Advance: April 06, 2026

Funds to be Credited to: NA Renewal of FRTL

Interest Rate: 5.34% per annum

Thank you for your business, and I look forward to continuing to work with you to meet your financial goals.

LF986 (Jan 2023)

Page 1 of 2

For renewals: RED RESORT LIMITED PARTNERSHIP

LF986 (Aug 2020)

Page 2 of 2

Company Legal Name: RED RESORT LIMITED PARTNERSHIP

Document Name: LF986-Advice of Loan Terms

Customer Tracking ID: B20093281901020

Transaction ID: MOD-301989354

ATTENTION:

Please do not remove or discard this sheet and ensure that it is returned with the attached document(s).

Further to our conversation, we are pleased to confirm your instructions for the following term loan renewal of the credit facility which is as subject to the terms of our Letter of Agreement: Latest reinstated LF985 (17/MAR/2025).

Date: April 06, 2026

Borrower Name: RED RESORT LIMITED PARTNERSHIP

Loan Type: Fixed Rate Term Loan

Loan Advance Amount: $2,943,377.24 CAD

Requested Date of Advance: April 06, 2026

Funds to be Credited to: NA – FRTL renewal

Interest Rate: 5.34% per annum

Thank you for your business, and I look forward to continuing to work with you to meet your financial goals.

LF986 (Jan 2023)

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For renewals: RED RESORT LIMITED PARTNERSHIP

LF986 (Aug 2020)

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