Business
Denarius Metals Announces Consent Solicitation Process to Amend the Terms of Its Convertible Unsecured Debentures to Strengthen Liquidity During the First 12 Months of the Ramp-up of Mining Operations at Its Zancudo Project in Colombia
Toronto, Ontario--(Newsfile Corp. - June 2, 2025) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today that it has commenced a consent solicitation process to approve certain amendments (the "Amendments") to the trust indentures for its convertible unsecured debentures. The Company has an aggregate principal amount of CA$19.5 million of convertible unsecured debentures due October 19, 2029 that are issued and outstanding under a trust indent
About this update from Denarius Metals Corp.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - June 2, 2025) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today that it has commenced a consent solicitation process to approve certain amendments (the "Amendments") to the trust indentures for its convertible unsecured debentures. The Company has an aggregate principal amount of CA$19.5 million of convertible unsecured debentures due October 19, 2029 that are 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$14.0 million of convertible unsecured debentures due May 30, 2024 that are 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"). The debentures issued under the 2023 Indenture and the 2024 Indenture bear interest at a rate of 12% per annum, paid monthly in equal installments.","length":1111,"tagName":"p"},{"type":"text","content":"The proposed Amendments to the 2023 Indenture and the 2024 Indenture, if approved and implemented, include:","length":107,"tagName":"p"},{"type":"text","content":"2023 Indenture:","length":15,"tagName":"p","attribs":{}},{"type":"list","items":[{"val":[{"type":"text","content":"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;","length":171,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"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","length":171,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"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.","length":170,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":512,"olType":false},{"type":"text","content":"2024 Indenture:","length":15,"tagName":"p","attribs":{}},{"type":"list","items":[{"val":[{"type":"text","content":"ena...