Integrated Rail & Resources Inc. Amends $12M Note, Grants Deed of Trust

What Happened

• Integrated Rail & Resources Inc. filed an 8‑K reporting a Second Amendment to its Promissory Note with Endeavor Capital Group, LLC, effective June 30, 2026 and entered July 14, 2026. The Original Note was dated December 12, 2025 with an original aggregate principal of $12,000,000 (previously amended April 1, 2026).
• The amendment revises the Note’s maturity provisions and adds collateral: the Maturity Date is set to September 30, 2026, but will extend to December 31, 2026 if the company notifies Endeavor of a debt or equity financing commitment before September 30. The Note remains secured by the previously attached Confession of Judgment and by a Deed of Trust dated July 14, 2026 executed by the company’s subsidiary Tar Sands Holdings II, LLC, granting a lien on certain Uintah County, Utah real property, water rights, mineral rights, leasehold and royalty interests, and related revenue contracts.

Key Details

• Original principal amount: $12,000,000 (Original Note dated Dec 12, 2025; amended Apr 1, 2026; Second Amendment effective Jun 30, 2026).
• New maturity timing: Sept 30, 2026 (extendable to Dec 31, 2026 upon receipt/notice of debt or equity financing commitment).
• Collateral: Deed of Trust by Tar Sands Holdings II, LLC covering real property, water and mineral rights, leasehold/royalty interests, and an assignment of production proceeds in Uintah County, Utah.
• Endeavor has not elected to immediately collect production proceeds; payments can continue to Tar Sands unless a default occurs and notice is given.

Why It Matters

• The amendment affects the company’s near‑term debt timeline and ties additional company assets (Utah mineral and related interests) to repayment of the loan, which is material for creditors and equity investors assessing balance‑sheet risk.
• The maturity extension condition signals the company is seeking new debt or equity financing; failure to secure and notify Endeavor could leave the earlier September 30 maturity in place and increase default risk.
• Investors should note the secured nature of the obligation (deed of trust and assignment of production) because secured creditors have priority over unsecured claims with respect to the pledged assets.