Denarius Metals Announces Consent from Holders to Amend Terms of Its Convertible Unsecured Debentures
Denarius Metals (DNRSF) has secured holder consent to amend terms of its convertible unsecured debentures. The amendments affect CA$19.25M of 2023 Debentures and CA$13.76M of 2024 Debentures, with consent from 78.95% and 99.02% of holders respectively. Key changes include:
- Delaying Gold Premium Payment commencement by one year for both debenture series
- Extending maturity dates by one year to October 2029 for 2023 Debentures and May 2030 for 2024 Debentures
Consenting holders will receive a 2% fee in additional debentures, totaling 576,460 new debentures, with 168,160 going to key executives. The amendments await final Cboe Canada approval, expected by December 31, 2024.
Denarius Metals (DNRSF) ha ottenuto il consenso dei titolari per modificare i termini dei suoi obbligazioni convertibili non garantite. Le modifiche riguardano 19,25 milioni di dollari canadesi di Obbligazioni 2023 e 13,76 milioni di dollari canadesi di Obbligazioni 2024, con il consenso rispettivo del 78,95% e del 99,02% dei titolari. Le modifiche principali includono:
- Rinvio dell'inizio del pagamento del premio per l'oro di un anno per entrambe le serie di obbligazioni
- Estensione delle date di scadenza di un anno fino a ottobre 2029 per le obbligazioni 2023 e maggio 2030 per le obbligazioni 2024
I titolari consenzienti riceveranno una commissione del 2% in obbligazioni aggiuntive, per un totale di 576.460 nuove obbligazioni, di cui 168.160 destinate ai dirigenti chiave. Le modifiche sono in attesa dell'approvazione finale da parte della Cboe Canada, prevista entro il 31 dicembre 2024.
Denarius Metals (DNRSF) ha obtenido el consentimiento de los titulares para modificar los términos de sus bonos convertibles no garantizados. Las modificaciones afectan 19,25 millones de dólares canadienses de los Bonos 2023 y 13,76 millones de dólares canadienses de los Bonos 2024, con el consentimiento del 78,95% y el 99,02% de los titulares respectivamente. Los cambios clave incluyen:
- Retraso del inicio del pago de la prima de oro por un año para ambas series de bonos
- Ampliación de las fechas de vencimiento por un año hasta octubre de 2029 para los Bonos 2023 y mayo de 2030 para los Bonos 2024
Los titulares que consienten recibirán una tarifa del 2% en bonos adicionales, totalizando 576,460 nuevos bonos, de los cuales 168,160 irán a ejecutivos clave. Las modificaciones están a la espera de la aprobación final de Cboe Canada, que se espera para el 31 de diciembre de 2024.
Denarius Metals (DNRSF)는 무담보 전환 채권의 조건을 수정하기 위해 채권자의 동의를 얻었습니다. 이러한 수정사항은 2023년 채권 1억 9250만 캐나다 달러와 2024년 채권 1억 3760만 캐나다 달러에 영향을 미치며, 각각 78.95% 및 99.02%의 동의를 받았습니다. 주요 변경 사항은 다음과 같습니다:
- 두 채권 시리즈 모두에 대해 금 프리미엄 지급 시작을 1년 연기
- 2023년 채권은 2029년 10월로, 2024년 채권은 2030년 5월로 만기일 연장
동의한 채권자는 추가 채권에서 2% 수수료를 받으며, 총 576,460개의 새로운 채권을 수령하게 되고, 이 중 168,160개는 주요 임원에게 배분됩니다. 이러한 수정 사항은 2024년 12월 31일까지 예정된 Cboe Canada의 최종 승인을 기다리고 있습니다.
Denarius Metals (DNRSF) a obtenu le consentement des détenteurs pour modifier les conditions de ses obligations convertibles non garanties. Les modifications concernent 19,25 millions de dollars canadiens d'Obligations 2023 et 13,76 millions de dollars canadiens d'Obligations 2024, avec le consentement respectif de 78,95 % et 99,02 % des détenteurs. Les principaux changements incluent :
- Report du début du paiement de la prime d'or d'un an pour les deux séries d'obligations
- Extension des dates d'échéance d'un an jusqu'à octobre 2029 pour les Obligations 2023 et mai 2030 pour les Obligations 2024
Les détenteurs consentants recevront des obligations supplémentaires équivalentes à 2% de frais, soit un total de 576 460 nouvelles obligations, dont 168 160 iront aux dirigeants clés. Les modifications attendent l'approbation finale de Cboe Canada, prévue pour le 31 décembre 2024.
Denarius Metals (DNRSF) hat die Zustimmung der Inhaber erhalten, um die Bedingungen seiner unbesicherten wandelbaren Schuldverschreibungen zu ändern. Die Änderungen betreffen 19,25 Millionen Kanadische Dollar von 2023 Schuldverschreibungen und 13,76 Millionen Kanadische Dollar von 2024 Schuldverschreibungen, mit einer Zustimmung von 78,95% bzw. 99,02% der Inhaber. Zu den wichtigsten Änderungen gehören:
- Verschiebung des Beginns der Goldprämienzahlung um ein Jahr für beide Schuldverschreibungsserien
- Verlängerung der Fälligkeitstermine um ein Jahr bis Oktober 2029 für die 2023 Schuldverschreibungen und Mai 2030 für die 2024 Schuldverschreibungen
Die zustimmenden Inhaber erhalten eine Gebühr von 2% in zusätzlichen Schuldverschreibungen, insgesamt 576.460 neuen Schuldverschreibungen, von denen 168.160 an die wichtigsten Führungskräfte gehen. Die Änderungen warten auf die endgültige Genehmigung durch die Cboe Canada, die bis zum 31. Dezember 2024 erwartet wird.
- High consent rates obtained (78.95% and 99.02%) indicating strong holder support
- One-year extension of maturity dates provides additional financial flexibility
- Delayed Gold Premium Payment requirements improve short-term cash flow management
- Additional debentures issued as consent fees (576,460) increase debt obligations
- Extended maturity dates lengthen debt exposure period
- Significant portion of consent fees (168,160) allocated to company executives
Toronto, Ontario--(Newsfile Corp. - December 20, 2024) - 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
Holders representing
2023 Indenture:
- delaying the commencement of the Gold Premium Payment (as defined in the 2023 Indenture) from January 31, 2025 to January 31, 2026; and
- extending the Maturity Date (as defined in the 2023 Indenture) of the 2023 Debentures from October 19, 2028 to October 19, 2029.
2024 Indenture:
- delaying the commencement of the Gold Premium Payment (as defined in the 2024 Indenture) from June 30, 2025 to June 30, 2026; and
- extending the Maturity Date (as defined in the 2024 Indenture) of the 2024 Debentures from May 30, 2029 to May 30, 2030.
To make the Amendments, the Company required the written consent of the holders of at least 66 2/
Holders of the debentures who responded to the solicitation and consented to the Amendments will receive a consent fee on or about December 31, 2024 equal to two percent (
About Denarius Metals
Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of polymetallic mining projects in high-grade districts. Denarius Metals has two mines expected to be in operation in the next 12 months, the Zancudo Project in Colombia and the Aguablanca Project in Spain.
In Spain, Denarius Metals owns a
In Colombia, Denarius Metals is carrying out construction activities at its
Additional information on Denarius Metals can be found on its website at www.denariusmetals.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies, including Cboe Canada final approval, finalization of the consent solicitation process, amendments to the 2023 Indenture and 2024 Indenture and issuance of debentures as a consent fee. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Denarius Metals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated April 25, 2024 which is available for view on SEDAR+ at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this press release and Denarius Metals disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Contact:
Michael Davies
Chief Financial Officer
(416) 360-4653
investors@denariusmetals.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234612
FAQ
What changes were made to Denarius Metals (DNRSF) debenture terms in December 2024?
How much are Denarius Metals' (DNRSF) outstanding convertible debentures worth?
What consent fee did DNRSF offer debenture holders for approving the amendments?
When will the new DNRSF debenture terms take effect?
