Business
Denarius Metals Announces Consent from Holders to Amend Terms of Its Convertible Unsecured Debentures
Toronto, Ontario--(Newsfile Corp. - June 17, 2025) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today t
About this update from Denarius Metals Corp.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - June 17, 2025) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) (\"Denarius Metals\" or the \"Company\") announced today that it has received the required consents from holders to approve certain amendments (the \"Amendments\") to the trust indentures for its convertible unsecured debentures. The Company has an aggregate principal amount of CA$19,521,000 of convertible unsecured debentures (the \"2023 Debentures\") issued and outstanding under a trust indenture dated October 19, 2023, as amended and supplemented on October 31, 2023 and December 31, 2024 (together, the \"2023 Indenture\") and an aggregate principal amount of CA$14,030,460 of convertible unsecured debentures (the \"2024 Debentures\") issued and outstanding under a trust indenture dated May 30, 2024, as amended and supplemented on June 25, 2024 and December 31, 2024 (together, the \" 2024 Indenture\"). Holders representing 93.6% and 97.1% of the total outstanding principal amount of 2023 Debentures and 2024 Debentures, respectively, consented to the Amendments to the 2023 Indenture and the 2024 Indenture which include: 2023 Indenture: enabling the Company to issue common shares rather than using cash to settle the monthly interest payments on the debentures from June 30, 2025 to May 31, 2026, inclusive; enabling the Company to issue common shares rather than using cash to settle the Gold Premium Payments, if any, payable on each of January 31, 2026 and April 30, 2026; and implementing a maximum amount of US$4,000 per ounce for the London P.M. Fix price of gold used in the Gold Premium Payment (as defined in the 2023 Indenture) calculation. 2024 Indenture: enabling the Company to issue common shares rather than using cash to settle the monthly interest payments on the debentures from June 30, 2025 to May 31, 2026, inclusive; and implementing a maximum amount of US$4,000 per ounce for the London P.M. Fix price of gold used in the Gold Premium Payment (as defined in the 2024 Indenture) calculation. To make the Amendments, the Company required the written consent of the holders of at least 66 2/3% of the total outstanding principal amount of each of the 2023 Debentures and the 2024 Debentures. The Amendments are subject to the final approval of Cboe Canada and are expected to become effective on or about June 18, 2025. Holders...