[6-K] Lifezone Metals Limited Current Report (Foreign Issuer)
Lifezone Metals Limited reported that its indirect wholly-owned subsidiary, Kabanga Nickel Limited, has entered into a $60 million secured bridge loan facility with Taurus Mining Finance Fund No. 2, L.P. The facility is intended to fund critical early works and infrastructure for the Kabanga Nickel Project as the company pursues long-term project financing. The loan carries 9.25% annual interest, payable quarterly, with principal due at maturity on July 31, 2027, and an option to extend by six months that would trigger issuance of an additional 1,500,000 warrants. As part of the transaction the company issued 2,500,000 warrants exercisable at $5.42 per share. The facility is secured by shares and project assets and availability of drawdowns is subject to customary conditions and Tanzanian-law security for the second drawdown. The company also amended its Senior Unsecured Convertible Debentures and furnished related agreements as exhibits.
Lifezone Metals Limited ha comunicato che la sua sussidiaria indiretta interamente controllata, Kabanga Nickel Limited, ha stipulato una linea di credito ponte garantita di $60 million con Taurus Mining Finance Fund No. 2, L.P. La facilit脿 猫 destinata a finanziare i lavori iniziali critici e le infrastrutture per il Kabanga Nickel Project mentre la societ脿 ricerca un finanziamento di progetto a lungo termine. Il prestito prevede un tasso d'interesse annuo del 9,25%, pagabile trimestralmente, con il capitale dovuto alla scadenza il 31 luglio 2027, e un'opzione di estensione di sei mesi che comporterebbe l'emissione di ulteriori 1.500.000 warrant. Nell'ambito dell'operazione la societ脿 ha inoltre emesso 2.500.000 warrant esercitabili a $5,42 per azione. La facilit脿 猫 garantita da azioni e beni del progetto e la disponibilit脿 dei prelievi 猫 subordinata a condizioni consuete e alla costituzione di garanzie ai sensi della legge tanzaniana per il secondo prelievo. La societ脿 ha inoltre modificato i suoi Senior Unsecured Convertible Debentures e ha depositato gli accordi correlati come allegati.
Lifezone Metals Limited inform贸 que su filial indirecta de propiedad total, Kabanga Nickel Limited, ha celebrado un pr茅stamo puente garantizado de $60 million con Taurus Mining Finance Fund No. 2, L.P. La facilidad est谩 destinada a financiar trabajos iniciales cr铆ticos e infraestructura para el Kabanga Nickel Project mientras la compa帽铆a busca financiamiento de proyecto a largo plazo. El pr茅stamo tiene un inter茅s anual del 9,25%, pagadero trimestralmente, con el principal venciendo el 31 de julio de 2027, y una opci贸n de pr贸rroga de seis meses que dar铆a lugar a la emisi贸n adicional de 1.500.000 warrants. Como parte de la transacci贸n la compa帽铆a emiti贸 2.500.000 warrants ejercitables a $5,42 por acci贸n. La facilidad est谩 garantizada por acciones y activos del proyecto y la disponibilidad de los desembolsos est谩 sujeta a condiciones habituales y a garant铆as conforme a la ley tanzana para el segundo desembolso. La compa帽铆a tambi茅n enmend贸 sus Senior Unsecured Convertible Debentures y present贸 los acuerdos relacionados como anexos.
Lifezone Metals Limited電� 臧勳爲鞝侅溂搿� 100% 靻岇湢頃� 鞛愴殞靷� Kabanga Nickel Limited臧� Taurus Mining Finance Fund No. 2, L.P.鞕� $60 million 攴滊鞚� 雼措炒 敫岆Μ歆�搿�鞚� 觳搓舶頄堧嫟瓿� 氚滍憸頄堨姷雼堧嫟. 鞚� 鞁滌劋鞚� 須岇偓臧� 鞛リ赴 頂勲鞝濏姼 鞛愱笀 臁半嫭鞚� 於旍頃橂姅 霃欖晥 Kabanga Nickel Project鞚� 齑堦赴 頃奠嫭 瓿奠偓鞕� 鞚疙攧霛� 鞛愱笀鞚� 歆�鞗愴晿旮� 鞙勴暅 瓴冹瀰雼堧嫟. 雽�於滌潃 鞐办澊鞙� 9.25%搿� 鞚挫瀽電� 攵勱赴氤勲 歆�旮夒悩氅� 鞗愱笀鞚� 2027雲� 7鞗� 31鞚� 毵岅赴鞐� 靸來櫂霅╇媹雼�. 6臧滌洈 鞐办灔 鞓奠厴鞚� 頄夓偓霅橂┐ 於旉皜搿� 1,500,000 鞗岆煱韸�臧� 氚滍枆霅╇媹雼�. 瓯半灅鞚� 鞚柬櫂鞙茧 須岇偓電� 2,500,000 鞗岆煱韸�毳� 欤茧嫻 $5.42鞐� 頄夓偓頃� 靾� 鞛堧弰搿� 氚滍枆頄堨姷雼堧嫟. 鞚� 鞁滌劋鞚� 欤检嫕 氚� 頂勲鞝濏姼 鞛愳偘鞚� 雼措炒搿� 頃橂┌ 鞚胳稖 臧�電レ劚鞚� 韱奠儊鞝侅澑 臁瓣贝瓿� 霊� 氩堨Ц 鞚胳稖鞐� 雽�頃� 韮勳瀽雼堨晞 氩曤靸侅潣 雼措炒 靹れ爼鞐� 霐半雼堧嫟. 須岇偓電� 霕愴暅 Senior Unsecured Convertible Debentures毳� 靾橃爼頃橁碃 甏�霠� 瓿勳暯鞚� 歃濍箼鞙茧 鞝滌稖頄堨姷雼堧嫟.
Lifezone Metals Limited a annonc茅 que sa filiale d茅tenue 脿 100 % de mani猫re indirecte, Kabanga Nickel Limited, a conclu une facilit茅 de pr锚t relais garantie de 60 millions de dollars avec Taurus Mining Finance Fund No. 2, L.P. Cette facilit茅 vise 脿 financer les travaux initiaux critiques et les infrastructures du Kabanga Nickel Project pendant que la soci茅t茅 recherche un financement de projet 脿 long terme. Le pr锚t porte un taux d'int茅r锚t annuel de 9,25%, payable trimestriellement, le principal 茅tant exigible 脿 l'茅ch茅ance le 31 juillet 2027, avec une option de prolongation de six mois entra卯nant l'茅mission de 1 500 000 warrants. Dans le cadre de la transaction, la soci茅t茅 a 茅galement 茅mis 2 500 000 warrants exer莽ables 脿 5,42 $ par action. La facilit茅 est garantie par des actions et des actifs du projet, et la mise 脿 disposition des tirages est soumise aux conditions usuelles ainsi qu'脿 des garanties selon le droit tanzanien pour le deuxi猫me tirage. La soci茅t茅 a en outre modifi茅 ses Senior Unsecured Convertible Debentures et d茅pos茅 les accords connexes en pi猫ces justificatives.
Lifezone Metals Limited teilte mit, dass ihre indirekt hundertprozentige Tochtergesellschaft Kabanga Nickel Limited eine gesicherte Br眉ckenfinanzierung in H枚he von $60 million mit Taurus Mining Finance Fund No. 2, L.P. abgeschlossen hat. Die Finanzierung soll kritische Fr眉hphasenarbeiten und Infrastruktur f眉r das Kabanga Nickel Project finanzieren, w盲hrend das Unternehmen eine langfristige Projektfinanzierung anstrebt. Das Darlehen tr盲gt einen Jahreszins von 9,25%, zahlbar viertelj盲hrlich, mit R眉ckzahlung des Kapitals bei F盲lligkeit am 31. Juli 2027, sowie einer Verl盲ngerungsoption um sechs Monate, die die Ausgabe von zus盲tzlichen 1.500.000 Warrants ausl枚sen w眉rde. Im Rahmen der Transaktion hat das Unternehmen zudem 2.500.000 Warrants ausgegeben, die zu $5,42 je Aktie aus眉bbar sind. Die Fazilit盲t ist durch Aktien und Projektverm枚gen besichert, und die Verf眉gbarkeit von Auszahlungen unterliegt den 眉blichen Bedingungen sowie der Stellung von Sicherheiten nach tansanischem Recht f眉r die zweite Auszahlung. Das Unternehmen hat au脽erdem seine Senior Unsecured Convertible Debentures angepasst und die zugeh枚rigen Vereinbarungen als Anlagen vorgelegt.
- $60 million secured bridge facility provides targeted funding to advance early works and infrastructure for the Kabanga Nickel Project
- Facility is secured by shares and project assets, giving lender protection and indicating priority over project collateral
- Attached exhibits (warrant, facility agreement, amended debenture, press release) provide source documents for investor review
- 9.25% annual interest is a relatively high financing cost payable quarterly
- Equity dilution risk from issuance of 2,500,000 warrants at $5.42 and potential additional 1,500,000 warrants if maturity is extended
- Second drawdown conditional on Tanzanian-law security being granted, adding execution risk to full funding availability
- Portions of the Bridge Loan Facility exhibit are omitted, limiting visibility into some terms
Insights
TL;DR The $60M bridge provides near-term project funding but includes dilutive warrants and a relatively high 9.25% coupon, creating mixed effects for shareholders.
The bridge facility is impactful because it directly finances early works at the Kabanga Nickel Project and is secured against project assets and shares of the Borrower, improving near-term funding visibility. The issuance of 2.5 million warrants at $5.42 (and potentially another 1.5 million on extension) creates measurable dilution if exercised. The interest rate of 9.25% and requirement for Tanzanian-law security for the second drawdown are material financing terms that affect cost and conditionality of funding. The amendment to Senior Unsecured Convertible Debentures is also relevant to capital structure and should be reviewed in full.
TL;DR The secured bridge reduces immediate liquidity risk for project development but introduces covenant/secured-interest and execution conditions that warrant monitoring.
The facility is secured by a security interest in the shares held by Lifezone Limited and by assets of the Borrower, indicating lender protection and seniority of claims on project assets. Availability conditions, including Tanzanian-law security for the second drawdown, introduce execution risk tied to local security filings. Portions of the Bridge Loan Facility exhibit are omitted as confidential, which limits external assessment of certain terms. Overall the arrangement is impactful to the project timeline and capital structure, with trade-offs between funding certainty and added secured obligations plus potential equity dilution via warrants.
Lifezone Metals Limited ha comunicato che la sua sussidiaria indiretta interamente controllata, Kabanga Nickel Limited, ha stipulato una linea di credito ponte garantita di $60 million con Taurus Mining Finance Fund No. 2, L.P. La facilit脿 猫 destinata a finanziare i lavori iniziali critici e le infrastrutture per il Kabanga Nickel Project mentre la societ脿 ricerca un finanziamento di progetto a lungo termine. Il prestito prevede un tasso d'interesse annuo del 9,25%, pagabile trimestralmente, con il capitale dovuto alla scadenza il 31 luglio 2027, e un'opzione di estensione di sei mesi che comporterebbe l'emissione di ulteriori 1.500.000 warrant. Nell'ambito dell'operazione la societ脿 ha inoltre emesso 2.500.000 warrant esercitabili a $5,42 per azione. La facilit脿 猫 garantita da azioni e beni del progetto e la disponibilit脿 dei prelievi 猫 subordinata a condizioni consuete e alla costituzione di garanzie ai sensi della legge tanzaniana per il secondo prelievo. La societ脿 ha inoltre modificato i suoi Senior Unsecured Convertible Debentures e ha depositato gli accordi correlati come allegati.
Lifezone Metals Limited inform贸 que su filial indirecta de propiedad total, Kabanga Nickel Limited, ha celebrado un pr茅stamo puente garantizado de $60 million con Taurus Mining Finance Fund No. 2, L.P. La facilidad est谩 destinada a financiar trabajos iniciales cr铆ticos e infraestructura para el Kabanga Nickel Project mientras la compa帽铆a busca financiamiento de proyecto a largo plazo. El pr茅stamo tiene un inter茅s anual del 9,25%, pagadero trimestralmente, con el principal venciendo el 31 de julio de 2027, y una opci贸n de pr贸rroga de seis meses que dar铆a lugar a la emisi贸n adicional de 1.500.000 warrants. Como parte de la transacci贸n la compa帽铆a emiti贸 2.500.000 warrants ejercitables a $5,42 por acci贸n. La facilidad est谩 garantizada por acciones y activos del proyecto y la disponibilidad de los desembolsos est谩 sujeta a condiciones habituales y a garant铆as conforme a la ley tanzana para el segundo desembolso. La compa帽铆a tambi茅n enmend贸 sus Senior Unsecured Convertible Debentures y present贸 los acuerdos relacionados como anexos.
Lifezone Metals Limited電� 臧勳爲鞝侅溂搿� 100% 靻岇湢頃� 鞛愴殞靷� Kabanga Nickel Limited臧� Taurus Mining Finance Fund No. 2, L.P.鞕� $60 million 攴滊鞚� 雼措炒 敫岆Μ歆�搿�鞚� 觳搓舶頄堧嫟瓿� 氚滍憸頄堨姷雼堧嫟. 鞚� 鞁滌劋鞚� 須岇偓臧� 鞛リ赴 頂勲鞝濏姼 鞛愱笀 臁半嫭鞚� 於旍頃橂姅 霃欖晥 Kabanga Nickel Project鞚� 齑堦赴 頃奠嫭 瓿奠偓鞕� 鞚疙攧霛� 鞛愱笀鞚� 歆�鞗愴晿旮� 鞙勴暅 瓴冹瀰雼堧嫟. 雽�於滌潃 鞐办澊鞙� 9.25%搿� 鞚挫瀽電� 攵勱赴氤勲 歆�旮夒悩氅� 鞗愱笀鞚� 2027雲� 7鞗� 31鞚� 毵岅赴鞐� 靸來櫂霅╇媹雼�. 6臧滌洈 鞐办灔 鞓奠厴鞚� 頄夓偓霅橂┐ 於旉皜搿� 1,500,000 鞗岆煱韸�臧� 氚滍枆霅╇媹雼�. 瓯半灅鞚� 鞚柬櫂鞙茧 須岇偓電� 2,500,000 鞗岆煱韸�毳� 欤茧嫻 $5.42鞐� 頄夓偓頃� 靾� 鞛堧弰搿� 氚滍枆頄堨姷雼堧嫟. 鞚� 鞁滌劋鞚� 欤检嫕 氚� 頂勲鞝濏姼 鞛愳偘鞚� 雼措炒搿� 頃橂┌ 鞚胳稖 臧�電レ劚鞚� 韱奠儊鞝侅澑 臁瓣贝瓿� 霊� 氩堨Ц 鞚胳稖鞐� 雽�頃� 韮勳瀽雼堨晞 氩曤靸侅潣 雼措炒 靹れ爼鞐� 霐半雼堧嫟. 須岇偓電� 霕愴暅 Senior Unsecured Convertible Debentures毳� 靾橃爼頃橁碃 甏�霠� 瓿勳暯鞚� 歃濍箼鞙茧 鞝滌稖頄堨姷雼堧嫟.
Lifezone Metals Limited a annonc茅 que sa filiale d茅tenue 脿 100 % de mani猫re indirecte, Kabanga Nickel Limited, a conclu une facilit茅 de pr锚t relais garantie de 60 millions de dollars avec Taurus Mining Finance Fund No. 2, L.P. Cette facilit茅 vise 脿 financer les travaux initiaux critiques et les infrastructures du Kabanga Nickel Project pendant que la soci茅t茅 recherche un financement de projet 脿 long terme. Le pr锚t porte un taux d'int茅r锚t annuel de 9,25%, payable trimestriellement, le principal 茅tant exigible 脿 l'茅ch茅ance le 31 juillet 2027, avec une option de prolongation de six mois entra卯nant l'茅mission de 1 500 000 warrants. Dans le cadre de la transaction, la soci茅t茅 a 茅galement 茅mis 2 500 000 warrants exer莽ables 脿 5,42 $ par action. La facilit茅 est garantie par des actions et des actifs du projet, et la mise 脿 disposition des tirages est soumise aux conditions usuelles ainsi qu'脿 des garanties selon le droit tanzanien pour le deuxi猫me tirage. La soci茅t茅 a en outre modifi茅 ses Senior Unsecured Convertible Debentures et d茅pos茅 les accords connexes en pi猫ces justificatives.
Lifezone Metals Limited teilte mit, dass ihre indirekt hundertprozentige Tochtergesellschaft Kabanga Nickel Limited eine gesicherte Br眉ckenfinanzierung in H枚he von $60 million mit Taurus Mining Finance Fund No. 2, L.P. abgeschlossen hat. Die Finanzierung soll kritische Fr眉hphasenarbeiten und Infrastruktur f眉r das Kabanga Nickel Project finanzieren, w盲hrend das Unternehmen eine langfristige Projektfinanzierung anstrebt. Das Darlehen tr盲gt einen Jahreszins von 9,25%, zahlbar viertelj盲hrlich, mit R眉ckzahlung des Kapitals bei F盲lligkeit am 31. Juli 2027, sowie einer Verl盲ngerungsoption um sechs Monate, die die Ausgabe von zus盲tzlichen 1.500.000 Warrants ausl枚sen w眉rde. Im Rahmen der Transaktion hat das Unternehmen zudem 2.500.000 Warrants ausgegeben, die zu $5,42 je Aktie aus眉bbar sind. Die Fazilit盲t ist durch Aktien und Projektverm枚gen besichert, und die Verf眉gbarkeit von Auszahlungen unterliegt den 眉blichen Bedingungen sowie der Stellung von Sicherheiten nach tansanischem Recht f眉r die zweite Auszahlung. Das Unternehmen hat au脽erdem seine Senior Unsecured Convertible Debentures angepasst und die zugeh枚rigen Vereinbarungen als Anlagen vorgelegt.
FAQ
What financing did Lifezone Metals (LZM) secure for the Kabanga Nickel Project?
What are the interest rate and maturity terms of the bridge loan for LZM?
Does the bridge loan include equity components for LZM shareholders?
Are there conditions on receiving the loan drawdowns for Lifezone Metals?
What collateral secures the bridge facility for LZM?
