NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES
BAAR, Switzerland, July 17, 2026 (GLOBE NEWSWIRE) -- Glencore AG ("Glencore"), a wholly‑owned indirect subsidiary of Glencore plc, today announced that, further to its news release of November 13, 2023 announcing the entry into an up to US$5,000,000 convertible facilities agreement with Tantalex Lithium Resources Corporation (the "Company") and the Company's new release of June 19, 2026 announcing an update for the Glencore Financing Arrangements, the convertible facilities agreement dated November 10, 2023 among Glencore (as lender), the Company (as borrower) and the Company's wholly‑owned subsidiary, Sandstone Worldwide Ltd. ("Sandstone") (as guarantor) (the "Original Convertible Facilities Agreement") has been amended and restated by:
an amendment and restatement agreement dated November 7, 2025 among the Company, Sandstone and Glencore (the "First A&R Agreement"); and
an amendment and restatement agreement dated February 19, 2026 among the Company, Sandstone, TTX Metals Ltd. ("TTX Metals") and Glencore (the "Second A&R Agreement" and, together with the First A&R Agreement, the "Amendment and Restatement Agreements").
The Original Convertible Facilities Agreement, as so amended and restated by the Amendment and Restatement Agreements, is referred to in this news release as the "Amended Convertible Facilities Agreement".
Under the Amended Convertible Facilities Agreement, Glencore has made available to the Company three convertible term loan facilities with aggregate commitments of U.S.$5,000,000, comprised of:
Facility A, a convertible term loan facility in the principal amount of U.S.$2,000,000, which is fully drawn ("Facility A");
Facility B, a convertible term loan facility in the principal amount of U.S.$1,000,000 (reduced from U.S.$3,000,000 pursuant to the Amendment and Restatement Agreements), which is fully drawn ("Facility B"); and
Facility C, a new convertible term loan facility in the principal amount of U.S.$2,000,000 (representing the undrawn portion of the original Facility B) established under the First A&R Agreement ("Facility C", and together with Facility A and Facility B, the "Facilities").
As at June 30, 2026, the aggregate principal amount outstanding under the Facilities is U.S.$4,350,000 with approximately U.S.$1,700,000 in accrued interest, fees and expenses.
The Facilities terminate on September 30, 2028. Each loan bears interest at one‑Month CME Term SOFR plus a margin of 8% per annum (changed from three‑Month CME Term SOFR plus margin).