Denarius Metals announced details for interest payments on its convertible unsecured debentures due June 30, 2025. Following recent amendments to trust indentures, the company will issue common shares instead of cash for monthly interest payments from June 30, 2025 to May 31, 2026. The company has CA$19.89M in debentures due October 2029 and CA$14.29M due May 2030. Based on the June 13 closing price of CA$0.60 per share, a maximum of 563,140 common shares will be issued to settle CA$337,885 in interest payments. Company executives, including Executive Chairman Serafino Iacono and CEO Federico Restrepo-Solano, will receive 144,068 shares for their debenture holdings.
Denarius Metals ha annunciato i dettagli relativi ai pagamenti degli interessi sui suoi debentures convertibili non garantiti in scadenza il 30 giugno 2025. A seguito di recenti modifiche agli atti fiduciari, la società emetterà azioni ordinarie invece di denaro contante per i pagamenti mensili degli interessi dal 30 giugno 2025 al 31 maggio 2026. La società ha debentures per un valore di 19,89 milioni di CA$ in scadenza nell'ottobre 2029 e 14,29 milioni di CA$ in scadenza a maggio 2030. Basandosi sul prezzo di chiusura del 13 giugno di 0,60 CA$ per azione, verranno emesse al massimo 563.140 azioni ordinarie per saldare 337.885 CA$ di pagamenti degli interessi. I dirigenti della società , tra cui il Presidente Esecutivo Serafino Iacono e l'Amministratore Delegato Federico Restrepo-Solano, riceveranno 144.068 azioni per le loro partecipazioni nei debentures.
Denarius Metals anunció detalles sobre los pagos de intereses de sus bonos convertibles no garantizados con vencimiento el 30 de junio de 2025. Tras recientes enmiendas a los contratos fiduciarios, la empresa emitirá acciones comunes en lugar de efectivo para los pagos mensuales de intereses desde el 30 de junio de 2025 hasta el 31 de mayo de 2026. La compañÃa posee bonos por CA$19.89 millones con vencimiento en octubre de 2029 y CA$14.29 millones con vencimiento en mayo de 2030. Basándose en el precio de cierre del 13 de junio de CA$0.60 por acción, se emitirán un máximo de 563,140 acciones comunes para liquidar CA$337,885 en pagos de intereses. Los ejecutivos de la empresa, incluyendo al Presidente Ejecutivo Serafino Iacono y al CEO Federico Restrepo-Solano, recibirán 144,068 acciones por sus tenencias en los bonos.
Denarius Metals gab Details zu den Zinszahlungen auf seine wandelbaren ungesicherten Schuldverschreibungen mit Fälligkeit am 30. Juni 2025 bekannt. Nach jüngsten Änderungen der Treuhandurkunden wird das Unternehmen statt Bargeld für die monatlichen Zinszahlungen vom 30. Juni 2025 bis zum 31. Mai 2026 Stammaktien ausgeben. Das Unternehmen verfügt über Schuldverschreibungen im Wert von 19,89 Mio. CA$ mit Fälligkeit im Oktober 2029 und 14,29 Mio. CA$ mit Fälligkeit im Mai 2030. Basierend auf dem Schlusskurs vom 13. Juni von 0,60 CA$ pro Aktie werden maximal 563.140 Stammaktien zur Begleichung von Zinszahlungen in Höhe von 337.885 CA$ ausgegeben. Unternehmensleiter, darunter der Executive Chairman Serafino Iacono und CEO Federico Restrepo-Solano, erhalten 144.068 Aktien für ihre Schuldverschreibungsbestände.
Positive
Company preserves cash by paying interest in shares instead of cash
Amendment of trust indentures shows successful negotiation with debenture holders
Negative
Issuance of shares for interest payments indicates potential cash flow constraints
Share issuance will cause dilution for existing shareholders
Consent Fee Debentures are subject to a four-month hold period
Toronto, Ontario--(Newsfile Corp. - June 19, 2025) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today the details for the forthcoming interest payments on its convertible unsecured debentures on June 30, 2025. Pursuant to the recently completed consent solicitation process, the trust indentures for its debentures were amended on June 18, 2025 (the "Third Supplemental Indentures") to allow the Company to issue common shares rather than using cash to settle the monthly interest payments on the debentures from June 30, 2025 to May 31, 2026, inclusive. As of today's date, the Company has an aggregate principal amount of CA$19,886,560 of debentures due October 19, 2029 (the "2023 Debentures") and an aggregate principal amount of CA$14,287,914 of debentures due May 30, 2030 (the "2024 Debentures") issued and outstanding.
The table below summarizes the details for the shares to be issued to holders of the 2023 Debentures and 2024 Debentures on June 30, 2025 in settlement of the monthly interest due on that date:
Principal Amount of Debentures (1) (CA$)
Maximum Interest (2) (CA$)
Maximum Number of Shares to be Issued (3)
Number of Shares per CA$1.00 of Principal
2023 Debentures
Total before the following
19,521,000
195,210
325,350
0.016667
Consent Fee Debentures (4)
365,560
1,444
2,406
0.006582
Total issued & outstanding
19,886,560
196,654
327,756
2024 Debentures
Issued & outstanding
14,015,460
140,155
233,591
0.016667
Consent Fee Debentures (4)
272,454
1,076
1,793
0.006582
Total issued & outstanding
14,287,914
141,231
235,384
Total
34,174,474
337,885
563,140
(1) Issued and outstanding as of June 19, 2025. (2) Assuming no conversions of debentures between today's date and June 30, 2025. (3) Based on the closing price of the common shares on Cboe CA of CA$0.60 per share on June 13, 2025, the Monthly Measurement Date pursuant to the Third Supplemental Indentures. (4) The Consent Fee Debentures were issued on June 18, 2025 pursuant to the consent solicitation process. As stipulated in the Third Supplemental Indentures, the interest payments for the period from the date of issue to but excluding June 30, 2025 are equal to CA$0.00395 for each CA$1.00 principal amount of debentures.
The actual number of common shares to be issued will be determined based on the aggregate principal amount of the debentures issued and outstanding on the record date and will not exceed the maximum number issuable as shown in the table above. The issuance of the common shares in settlement of the interest payable on the debentures on June 30, 2025 is subject to the acceptance of Cboe Canada. The Consent Fee Debentures are currently subject to a statutory four month hold period, and as such, the common shares to be issued in settlement of the interest thereon will be subject to the same hold period.
Mr. Serafino Iacono (Executive Chairman), Mr. Federico Restrepo-Solano (Director and CEO), Mr. Michael Davies (Chief Financial Officer) and Ms. Amanda Fullerton (General Counsel and Secretary) will receive an aggregate of 144,068 common shares in settlement of the interest payable on their respective holdings of 2023 Debentures and 2024 Debentures.
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 recently commenced mining operations at its 100%-owned Zancudo Project, a high-grade gold-silver deposit, which includes the historic producing Independencia mine, 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% interest in Rio Narcea Recursos, S.L. and is the operator of its Aguablanca Project, which has recently 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 and by reviewing its profile on SEDAR+ at .
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 acceptance of the share issuance. 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, 2025 which is available for view on SEDAR+ at . 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 [email protected]
To view the source version of this press release, please visit
FAQ
How much interest is Denarius Metals (DNRSF) paying on its debentures for June 30, 2025?
Denarius Metals is paying CA$337,885 in total interest, with CA$196,654 for 2023 Debentures and CA$141,231 for 2024 Debentures.
How many shares will Denarius Metals issue for the June 2025 interest payment?
Denarius Metals will issue a maximum of 563,140 common shares, based on the closing price of CA$0.60 per share on June 13, 2025.
What is the total value of Denarius Metals' outstanding debentures?
The total value of outstanding debentures is CA$34,174,474, comprising CA$19,886,560 due in 2029 and CA$14,287,914 due in 2030.
How long will Denarius Metals pay interest in shares instead of cash?
Denarius Metals will pay interest in shares from June 30, 2025 to May 31, 2026, as per the amended trust indentures.
How many shares will Denarius Metals executives receive for their debenture interest?
Company executives, including the Executive Chairman and CEO, will receive an aggregate of 144,068 common shares for their debenture holdings.
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