The resources company Nidhogg Resources has entered into a binding letter of intent for a $360,000 convertible loan facility from energy investor Nick Steinsberger's Family Office.The loan accrues no ongoing interest, and repayment will be at 1.5x-2.0x of the principal depending on the term and whether conversion occurs. An application is being prepared for an Egyptian hydrocarbon project through the subsidiary Nidhogg Energy as operator. The purpose of Nidhogg Resources' convertible loan is to support the application and financing needs. "This initiative is a follow-up to the experience we have gained over the year as we evaluated various business opportunities in Egypt. The convertible loan facility strengthens our ability to advance the project's application process and positions Nidhogg to build on our establishment in the region with our dynamic growth strategy," said CEO Niclas Biornstad.