Business
Refinancing of Short-Term Loan Facility
Phoenix Copper Limited has drawn down $1.96 million net from a $2.1 million unsecured convertible loan note with a 12-month term, issued to Indigo Capital LP. This facility, which includes a 5% coupon and a 2% commitment fee, allows conversion into new ordinary shares at a 20% discount to the prior 5-day VWAP, with specific conversion rights for the investor. Additionally, the company has repaid $1.46 million of its Short-Term Loan Facility to Riverfort Global Opportunities PCC Limited, which included accrued interest and a conversion of $627,251 principal and interest into 19,549,276 new ordinary shares at 2.41 pence each, with these shares expected to be admitted to AIM on December 8, 2025, bringing the total outstanding shares to 261,013,300. Disclaimer*
About this update from Phoenix Copper Ltd. (united Kingdom)
[{"type":"text","content":"\n\nPhoenix Copper Limited / Ticker: PXC / Sector: Mining\n \n4 December 2025\nPhoenix Copper Limited\n(\"Phoenix\" or the \"Company\")\nRefinancing of Short-Term Loan Facility\n \nPhoenix Copper Limited (AIM: PXC; OTCQX ADR: PXCLY), the AIM quoted, USA focused base and precious metals emerging producer and exploration company, is pleased to announce that, further to its announcement on 13 August 2025, it has drawn down on a $2.1 million convertible loan note (the \"CLN\") and utilised the funds, in part, to repay the balance of its Short-Term Loan Facility (see below).\nKey terms of the CLN\nThe CLN, which has been issued to Indigo Capital LP, a private family office investor (the \"CLN Investor\"), is unsecured and has been drawn down in an amount of $1.96 million net of a fixed 5% coupon and a 2% commitment fee. The CLN has a 12 month term and is convertible into new ordinary shares of no par value in the Company (\"New Ordinary Shares\"), at the option of the CLN Investor, at a 20% discount to the prior 5 day lowest Volume Weighted Average Price (\"VWAP\") on the day a conversion notice is submitted by the CLN investor, or on maturity.\nThe CLN Investor may convert up to $1 million prior to 30 April 2026, plus a further $250,000 if the Company's share price has closed at 5.5 pence or higher for 5 consecutive trading days prior to 30 April 2026. From 1 May 2026 the CLN investor may convert the CLN in full. The Company may redeem the CLN in cash at nominal value plus 20%, with the written consent of the CLN Investor.\nThe CLN investor will also be granted 10 million warrants to purchase New Ordinary Shares at an exercise price of 5 pence at any time from 1 May 2026 to 31 October 2028.\nPartial Loan Conversion\nThe Short-Term Loan Facility from Riverfort Global Opportunities PCC Limited has been repaid in an amount of $1.46 million inclusive of accrued interest at 15% per annum and net of conversion of $627,251 of outstanding principal and interest into 19,549,276 New Ordinary Shares at a price of 2.41 pence per share (the \"Partial Loan Conversion\").\nApplication has been made for the 19,549,276 New Ordinary Shares issued pursuant to the Partial Loan Conversion to be admitted to trading on AIM (\"Admission\"). It is expected that Admission will become effective and dealings will commence at 8:00 am UK time on or aro...