Secured Convertible Debt Financing
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Integral Metals Announces Secured Convertible Debt Financing
Globenewswire· 2025-06-24 23:00
Financing Transaction - Integral Metals Corp. has entered into a secured convertible debt financing transaction with a strategic investor, receiving loan proceeds of US$1,000,000 [1][2] - The loan is set to mature on May 31, 2027, with an interest rate of 12% per annum and is secured by the Company's interests in the Burntwood Property in north Manitoba [2] Conversion Terms - The Lender has the right to convert all or a portion of the principal amount of the outstanding loan into the Company's common shares at a price of $0.94 per share, subject to regulatory approvals [2] Use of Proceeds - The net proceeds from the loan will be used for the development of the Company's business and for general working capital purposes [3] Company Overview - Integral Metals Corp. is engaged in mineral exploration for critical minerals, including gallium, germanium, and rare earth elements, aiming to contribute to a domestic supply chain for these minerals [5] - The Company holds properties in mining-friendly jurisdictions in Canada and the United States, including the Northwest Territories, Manitoba, and Montana [5]