Secured Convertible Debentures
Search documents
Silver X Mining Closes C$69M Brokered Private Placement of Secured Convertible Debentures
Accessnewswire· 2026-03-18 17:10
Core Viewpoint - Silver X Mining Corp. successfully closed a brokered private placement of secured convertible debentures, raising C$69 million to support its growth strategy and project development in South America [1][3]. Group 1: Offering Details - The company issued 69,000 debentures at an issue price of C$1,000 each, with a 15% increase in offering size due to strong investor demand, raising an additional C$9 million [2]. - The offering was conducted on a "best efforts" basis with Ventum Financial Corp. as the sole agent and bookrunner [2]. - The principal amount of the debentures will bear a fixed interest rate of 10% per annum, payable semi-annually, maturing five years from the issuance date [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated for development capital expenditures, working capital, and general corporate purposes [5]. Group 3: Security and Conversion - The debentures are secured by a substantial portion of the company's assets, including those of its subsidiaries, and are backed by trust structures in Peru [6]. - Holders of the debentures can convert them into common shares at a price of C$1.62 per share, subject to anti-dilution adjustments [4]. Group 4: Company Overview - Silver X is focused on advancing the Nueva Recuperada Project in Peru, which encompasses a 20,795-hectare land package with significant production potential [9]. - The company aims to scale production and explore new opportunities, targeting approximately 6 million AgEq ounces [9].
Bell Copper Announces Non-Brokered Convertible Debenture Financing with Crescat Capital LLC
TMX Newsfile· 2026-03-06 12:44
Core Viewpoint - Bell Copper Corporation has announced a non-brokered financing of $2,052,000 through secured convertible debentures, arranged by Crescat Portfolio Management LLC, aimed at supporting its exploration efforts at the Big Sandy Porphyry Copper Project [1][8]. Financing Details - The financing involves the issuance of secured convertible debentures with a principal sum convertible into common shares at C$0.06 per share for the first year and C$0.10 thereafter, valid for five years [2]. - The debentures will bear an interest rate of 10% per annum, compounded annually, with no prepayment privileges [3]. - Accompanying the debentures are 34,200,000 detachable common share purchase warrants, allowing the purchase of shares at C$0.15 each for five years [4]. Conversion and Shareholder Approval - Holders of the debentures can convert accrued interest into shares at the last closing price before conversion notice, subject to TSX Venture Exchange approval [5]. - The company must call a shareholder meeting within 75 days of Crescat's request to seek approval for the creation of a new Control Person [5]. Put Right and Security Agreement - Debenture holders have a put right to require the company to repay the principal plus accrued interest after the second anniversary of issuance [6]. - The debentures will be secured by a general security agreement over all of Bell's personal property, ensuring Crescat's priority in case of default [7]. Use of Proceeds - Funds raised will be allocated to ongoing drilling and exploration at the Big Sandy Porphyry Copper Project and for general working capital [8]. Related-Party Transaction - The purchase of debentures by Crescat is classified as a related-party transaction but is exempt from formal valuation and minority approval requirements, as it does not exceed 25% of the company's market capitalization [9]. Company Overview - Bell Copper is focused on the exploration and discovery of large copper deposits in Arizona, particularly at the Big Sandy and Perseverance Porphyry Copper Projects [13].
Silver X Mining Launches Brokered Private Placement of Up To C$60M in Convertible Debentures
Accessnewswire· 2026-01-27 12:45
Core Viewpoint - Silver X Mining Corp. has announced a private placement offering of up to C$60 million in secured convertible debentures, with Ventum Financial Corp. acting as the sole agent and bookrunner [1] Group 1: Offering Details - The offering consists of secured convertible debentures with an aggregate principal amount of up to C$60 million [1] - The company has granted the agent an option to increase the offering size by up to 15% of the number of convertible debentures, which can be exercised at any time up to three business days prior to the closing [1]
Lion Copper and Gold Corp. Closes Oversubscribed US$2.7 Million Convertible Debenture Financing
Newsfile· 2025-11-07 01:44
Core Points - Lion Copper and Gold Corp. has successfully closed a non-brokered private placement of secured convertible debentures, raising gross proceeds of US$2,700,000 [1][2] Group 1: Debenture Financing Details - The debentures carry an interest rate of 12% per annum and will mature 12 months from issuance [2] - The principal amount can be converted into common shares at a price of US$0.0965 per share until November 6, 2026 [2] - The proceeds will be used for purchasing lands and associated mineral rights for projects in the Yerington area, with repayment secured against these assets [2] Group 2: Warrants Issued - For every US$0.0965 of principal amount subscribed, one detachable warrant was issued, totaling 27,979,274 warrants [3] - Each warrant allows the holder to acquire a common share at US$0.0965 until November 6, 2030 [3] Group 3: Related Party Transaction - An insider, Tony Alford, participated in the financing with a principal amount of US$1,400,000, constituting a related party transaction [4] - The company is relying on exemptions from formal valuation requirements as the securities issued do not exceed 25% of its market capitalization [4] Group 4: Shareholding Changes - Prior to the financing, Mr. Alford owned approximately 30.94% of the company's common shares [7] - After the financing, if all securities are exercised or converted, his ownership could increase to approximately 46.36% on a partially diluted basis [8] Group 5: Regulatory Compliance - All securities issued are subject to a four-month statutory hold period, expiring on March 7, 2026 [5] - The securities have not been registered under the U.S. Securities Act and cannot be sold in the U.S. without registration or exemption [6] Group 6: Company Overview - Lion Copper and Gold Corp. is advancing its flagship copper project in Yerington, Nevada, through an agreement with Nuton LLC, a Rio Tinto Venture [11]
Lion Copper Announces $2.5 Million Convertible Notes Offering
Newsfile· 2025-10-29 17:53
Core Points - Lion Copper and Gold Corp. announced a non-brokered private placement of secured convertible debentures for gross proceeds of up to US$2,500,000 [1][2] - The debentures will have an interest rate of 12% per annum and will mature in 12 months, with a conversion price of US$0.0965 per share [2] - Proceeds from the offering will be used to purchase lands and associated mineral rights for the Company's Yerington area projects [2] - The repayment of the debentures will be secured against the lands and mineral rights purchased with the proceeds [2] - The Company will issue up to 25,906,735 common share purchase warrants, allowing holders to acquire shares at US$0.0965 for 60 months [3] - A related party transaction involves the issuance of debentures to an insider for US$450,000, relying on exemptions from formal valuation requirements [4] - All securities issued will be subject to a four-month statutory hold period and resale restrictions under US Securities laws [5][6] - The securities have not been registered under the United States Securities Act of 1933 and cannot be sold in the U.S. without registration or exemption [6] - Lion Copper and Gold Corp. is advancing its flagship copper project in Yerington, Nevada through an agreement with Nuton LLC, a Rio Tinto Venture [7]