LUCA CLARIFIES TRAFIGURA EARLY WARNING REPORT
Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) has clarified an Early Warning Report issued by Trafigura Beheer B.V. regarding a debt restructuring agreement. The agreement, announced in December 2023, involved converting a US$5.8 million loan into a non-interest-bearing three-year convertible debenture. The debenture, held by Trafigura's subsidiary Urion Holdings, was recently finalized after meeting certain conditions.
If fully converted, Urion would acquire approximately 22,540,457 Luca shares, representing about 11.65% of the company. Combined with existing holdings, Trafigura would indirectly own 12.48% of Luca's outstanding shares. The conversion price is based on a US$ to CAD$ rate of 1.30602 as of August 22, 2024. Luca currently benefits from the non-interest-bearing loan facility, as the debenture has not been converted.
Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) ha chiarito un Rapporto di Avviso Precoce emesso da Trafigura Beheer B.V. riguardo a un accordo di ristrutturazione del debito. L'accordo, annunciato a dicembre 2023, prevedeva la conversione di un prestito di 5,8 milioni di dollari USA in un'obbligazione convertibile triennale senza interessi. L'obbligazione, detenuta dalla controllata di Trafigura, Urion Holdings, è stata recentemente finalizzata dopo aver soddisfatto alcune condizioni.
Se completamente convertita, Urion acquisirebbe circa 22.540.457 azioni di Luca, rappresentando circa l'11,65% della società. Combinato con le partecipazioni esistenti, Trafigura possederebbe indirettamente il 12,48% delle azioni in circolazione di Luca. Il prezzo di conversione si basa su un tasso di cambio USD a CAD di 1,30602 al 22 agosto 2024. Attualmente, Luca beneficia della linea di prestiti senza interessi, poiché l'obbligazione non è stata convertita.
Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) ha aclarado un Informe de Aviso Anticipado emitido por Trafigura Beheer B.V. con respecto a un acuerdo de reestructuración de deuda. El acuerdo, anunciado en diciembre de 2023, implicaba convertir un préstamo de 5.8 millones de dólares estadounidenses en un bono convertible a tres años sin intereses. El bono, mantenido por la subsidiaria de Trafigura, Urion Holdings, fue recientemente finalizado tras cumplir ciertas condiciones.
Si se convierte completamente, Urion adquiriría aproximadamente 22,540,457 acciones de Luca, lo que representa alrededor del 11.65% de la empresa. Combinado con las participaciones existentes, Trafigura poseería indirectamente el 12.48% de las acciones en circulación de Luca. El precio de conversión se basa en una tasa de USD a CAD de 1.30602 al 22 de agosto de 2024. Actualmente, Luca se beneficia de la línea de crédito sin intereses, ya que el bono no ha sido convertido.
Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF)는 Trafigura Beheer B.V.가 발행한 조기 경고 보고서를 명확히 했습니다. 이 보고서는 부채 재구성 계약과 관련이 있습니다. 이 계약은 2023년 12월에 발표되었으며, 580만 달러의 대출을 이자가 없는 3년 만기 전환 사채로 전환하는 것을 포함하고 있습니다. Trafigura의 자회사인 Urion Holdings가 보유하고 있는 이 사채는 특정 조건을 충족한 후 최근에 확정되었습니다.
완전히 전환될 경우, Urion은 약 22,540,457 Luca 주식을 인수하게 되어 회사의 약 11.65%를 차지하게 됩니다. 기존 보유 지분과 결합하면, Trafigura는 Luca의 발행 주식의 12.48%를 간접적으로 소유하게 됩니다. 전환 가격은 2024년 8월 22일 기준으로 USD에서 CAD로의 환율 1.30602을 기준으로 합니다. 현재 Luca는 이자가 없는 대출 편의성을 누리고 있으며, 사채는 아직 전환되지 않았습니다.
Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) a précisé un Rapport d'Avis Préalable émis par Trafigura Beheer B.V. concernant un accord de restructuration de la dette. L'accord, annoncé en décembre 2023, impliquait la conversion d'un prêt de 5,8 millions de dollars US en une obligation convertible sans intérêts sur trois ans. L'obligation, détenue par la filiale de Trafigura, Urion Holdings, a récemment été finalisée après avoir satisfait certaines conditions.
Si elle est entièrement convertie, Urion acquérirait environ 22 540 457 actions de Luca, représentant environ 11,65 % de la société. Combinée aux participations existantes, Trafigura détiendrait indirectement 12,48 % des actions en circulation de Luca. Le prix de conversion est basé sur un taux de change USD à CAD de 1,30602 au 22 août 2024. Actuellement, Luca bénéficie de cette facilité de prêt sans intérêts, puisque l'obligation n'a pas été convertie.
Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) hat einen Frühwarnbericht von Trafigura Beheer B.V. zur Klärung eines Schuldenrestrukturierungsvertrags veröffentlicht. Der Vertrag, der im Dezember 2023 angekündigt wurde, sah die Umwandlung eines Kredits in Höhe von 5,8 Millionen US-Dollar in eine zinslose, dreijährige wandelbare Anleihe vor. Die Anleihe, die sich im Besitz von Trafiguras Tochtergesellschaft Urion Holdings befindet, wurde kürzlich nach Erfüllung bestimmter Bedingungen finalisiert.
Wenn die Umwandlung vollständig erfolgt, würde Urion etwa 22.540.457 Luca-Aktien erwerben, was etwa 11,65% des Unternehmens entspricht. In Kombination mit bestehenden Beteiligungen würde Trafigura indirekt 12,48% der ausgegebenen Aktien von Luca besitzen. Der Umwandlungspreis basiert auf einem Wechselkurs von 1,30602 USD zu CAD am 22. August 2024. Momentan profitiert Luca von der zinslosen Kreditlinie, da die Anleihe noch nicht umgewandelt wurde.
- Conversion of US$5.8 million loan to non-interest-bearing convertible debenture
- Potential for improved cash flow due to non-interest-bearing nature of the loan
- Continued strong relationship with Trafigura, including offtake agreements for both mines
- Potential dilution of existing shareholders if convertible debenture is exercised
- Significant ownership concentration (12.48%) with Trafigura if fully converted
The EWR relates to a debt restructuring agreement entered into between Luca and Trafigura on December 11, 2023. The debt restructuring related to the conversion of an outstanding loan in the amount of
As Trafigura wished for the Convertible Debenture to be held by its subsidiary Urion Holdings (
The Convertible Debenture matures on January 11, 2027 and should Urion choose to convert same, then based on a US$ conversion price to CAD$ of 1.30602 as of August 22, 2024, the conversion of the Convertible Debenture would result in Urion acquiring approximately 22,540,457 common shares in the capital of Luca (the "Luca Shares"), representing approximately
At the time the time the debt restructuring was agreed, Luca's shares were trading at
The Company continues to enjoy an excellent working relationship with Trafigura, which has offtake agreements in place for both the
On Behalf of the Board of Directors
(signed) "Ramon Perez"
Ramon Perez, President
Luca Mining (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is a diversified Canadian mining company with two
The
The Tahuehueto Gold, Silver Mine is a new underground operation in Durango State,
The Company expects its operations to start generating positive cash flows in 2024. Luca Mining is focused on growth with the aim of maximizing shareholder returns.
For more information, please visit: www.lucamining.com
It should be noted that Luca declared commercial production at
Furthermore, Luca intends to declare commercial production at the Tahuehueto gold, silver mine prior to completing a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, readers should be cautioned that Luca's production decision has been made without a comprehensive feasibility study of established reserves such that there is greater risk and uncertainty as to future economic results from the Tahuehueto gold, silver mine and a higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make a production decision. Luca has completed a prefeasibility study on the Tahuehueto gold, silver mine (see news releases dated April 26, 2022).
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, possible events, conditions or financial performance that are based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company's properties In certain cases, Forward-Looking Information can be identified using words and phrases such as "plans," "expects," "scheduled," "estimates," "forecasts," "intends," "anticipates" or variations of such words and phrases. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
View original content to download multimedia:https://www.prnewswire.com/news-releases/luca-clarifies-trafigura-early-warning-report-302232082.html
SOURCE Luca Mining Corp.
FAQ
What is the value of the convertible debenture issued by Luca Mining (LUCMF) to Trafigura?
When does the convertible debenture for Luca Mining (LUCMF) mature?
How many shares of Luca Mining (LUCMF) would Trafigura own if the debenture is fully converted?
What is the conversion price for the Luca Mining (LUCMF) convertible debenture?
