DENARIUS METALS ANNOUNCES UPDATE ON ITS CAPITAL STRUCTURE

Rhea-AI Summary

Denarius Metals (OTCQX: DNRSF) reported a capital-structure update after unlisted warrants expired on April 4, 2026. The company received approximately CA$24.7 million from exercise of ~40.3 million warrants, including ~CA$22.0 million from 36.7 million warrants that expired March 2 and April 4, 2026.

As of April 7, 2026, there are 202,359,191 common shares outstanding and an implied market cap of approximately CA$184 million (CA$0.91 close).

Positive

• Gross proceeds of CA$24.7M from warrant exercises
• 40.3M warrants exercised, converting cash into equity
• Common shares outstanding now 202,359,191

Negative

• Outstanding unlisted warrants totalling 51,915,698 (potential dilution)
• Convertible debentures and debentures could issue 67,979,544 shares

News Market Reaction – DNRSF

-1.08%

1 alert

-1.08% News Effect

On the day this news was published, DNRSF declined 1.08%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

TORONTO, April 8, 2026 /PRNewswire/ - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today an update on its capital structure following the expiry of the Company's unlisted warrants on April 4, 2026.

Since the beginning of 2026, the Company has received total gross proceeds of approximately CA$24.7 million in cash from the exercise of approximately 40.3 million warrants at exercise prices ranging from CA$0.50 to CA$8.00 per share, including approximately CA$22.0 million from the exercise of 36.7 million warrants that expired on March 2, 2026 and April 4, 2026. As at April 7, 2026, the Company had a total of 202,359,191 common shares issued and outstanding and a market capitalization of approximately CA$184 million⁽¹⁾.

As at April 7, 2026, the Company had the following securities issued and outstanding:

Securities	Cboe Canada Symbol	Number	Shares Issuable	Exercise price per share	Expiry or Maturity
Common shares	DMET	202,359,191
Stock options			14,342,500	CA$0.52 – CA$6.50	2026 - 2031
Warrants	Unlisted	4,135,514	4,135,514	CA$0.85	October 31, 2026
	Unlisted	6,443,014	6,443,014	CA$0.60	May 30, 2027
	Unlisted	3,000,000	3,000,000	CA$0.74	February 7, 2028
	Unlisted	13,138,000	13,138,000	CA$0.60	March 20, 2028
	Unlisted	2,083,500	2,083,500	CA$0.60	April 30, 2028
	Unlisted	11,920,000	11,920,000	CA$0.70	November 19, 2028
	Unlisted	442,740	442,740	CA$0.50	November 19, 2028
	Unlisted	10,752,930	10,752,930	CA$0.66	June 20, 2030
			51,915,698
Convertible	DMET.DB	CA$19,886,560	44,192,354	CA$0.45	October 19, 2029
Debentures	Unlisted	CA$14,272,314	23,787,190	CA$0.60	May 30, 2030
		CA$34,158,874	67,979,544
Fully Diluted
"In-the money" (1)			336,596,933
Total			335,304,433

_{(1) Based on the closing price of the common shares on Cboe Canada of CA$0.91 per share on April 7, 2026.}

About Denarius Metals

Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of precious metals and polymetallic mining projects in high-grade districts in Colombia and Spain. Denarius Metals is listed on Cboe Canada where it trades under the symbol "DMET". The Company also trades on the OTCQX Market in the United States under the symbol "DNRSF".

In Colombia, Denarius Metals is producing gold and silver in an "early production" phase at its 100%-owned Zancudo Project while it completes construction a 1,000 tonnes per day processing plant that is expected to start producing high-grade gold-silver concentrates by the third quarter of 2026. The Zancudo Project is a high-grade gold-silver deposit, which includes the historic producing Independencia mine, and is located in the Cauca Belt, about 30 km southwest of Medellin.

In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals. The Company owns a 21.8% interest in Rio Narcea Recursos, S.L. and is the operator of its Aguablanca Project, which has been recognized by the EU as a Strategic Project. The Aguablanca Project comprises a turnkey 5,000 tonnes per day processing plant and the rights to exploit the historic producing Aguablanca nickel-copper mine, located in Monesterio, Extremadura. Denarius Metals also owns a 100% interest in the Lomero Project, a polymetallic deposit located on the Spanish side of the prolific copper rich Iberian Pyrite Belt, approximately 88 km southwest of the Aguablanca Project, and a 100% interest in the Toral Project, a high-grade zinc-lead-silver deposit located in the Leon Province, Northern Spain.

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. 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 March 31, 2026 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/denarius-metals-announces-update-on-its-capital-structure-302736349.html

SOURCE Denarius Metals Corp.

FAQ

How much cash did Denarius Metals (DNRSF) raise from warrant exercises in 2026?

Approximately CA$24.7 million was received from warrant exercises. According to the company, about CA$22.0 million came from 36.7 million warrants that expired on March 2 and April 4, 2026, with total exercised warrants around 40.3 million year-to-date.

What is Denarius Metals' (DNRSF) current common share count and market cap as of April 7, 2026?

Denarius Metals has 202,359,191 common shares outstanding and a market cap of ~CA$184 million. According to the company, the market cap is based on a CA$0.91 closing price on Cboe Canada on April 7, 2026.

How many warrants and convertible instruments remain outstanding for DNRSF after the April 2026 expiries?

There are 51,915,698 unlisted warrants remaining and convertible instruments representing 67,979,544 potential shares. According to the company, these securities remain issuable under their stated exercise prices and maturities.

What exercise prices and expiry range apply to DNRSF's remaining warrants and options?

Remaining exercise prices range roughly from CA$0.50 to CA$0.85 for listed warrants and CA$0.52–CA$6.50 for stock options. According to the company, expiries span from October 2026 through 2031 depending on the instrument.

What does the CA$24.7M warrant exercise mean for DNRSF shareholders?

The exercises increased company cash by CA$24.7M but also raised share count through conversions. According to the company, investors should note the balance between improved liquidity and potential dilution from remaining warrants and convertible instruments.

Are the recently reported proceeds from DNRSF included in the company’s disclosed market cap?

Yes, the market cap of ~CA$184M is reported as of April 7, 2026 and reflects the updated share count after exercises. According to the company, the CA$0.91 closing price on Cboe Canada was used to calculate that market capitalization.