Toronto, Ontario--(Newsfile Corp. - February 29, 2024) - Denarius Metals Corp. (TSXV: DSLV) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") is pleased to announce that, further to the Company's news releases dated October 19, 2023 and November 1, 2023, the Senior Unsecured Convertible Debentures (the "Debentures") issued pursuant to the previously announced private placement offering (the "Offering") have been approved for listing on Cboe Canada under the symbol "DSLV.DB" and will begin trading on March 4, 2024 following the expiry of the statutory four-month hold period.
Serafino Iacono, Executive Chairman and CEO of Denarius Metals, commented, "The listing of the Debentures provides investors with another avenue to derive value from their securities. As we continue to advance our 100%-owned Zancudo Project in Colombia toward production in 2024 using the net proceeds of the Offering, we believe Denarius Metals is well-positioned to create and deliver significant long-term value from its portfolio of projects in Spain and Colombia to its security holders."
The Debentures bear interest at a rate of 12% per annum, payable monthly in equal installments and will mature on October 19, 2028. The Debentures will also pay a Gold Premium on the principal amount of the Debentures in cash. The Gold Premium will be paid at the end of each quarter starting January 31, 2025 and will be calculated as a percentage equal to 25% of (i) the amount, if any, by which the London P.M. Fix on the quarterly measurement date exceeds US$1,800 per ounce of gold (the "Floor Price") divided by (ii) the Floor Price. The principal amount of the Debentures is convertible, at the option of the holder, at any time into common shares of the Company at a conversion price of CA$0.45 per common share.
No U.S. Offering or Registration
This news release does not constitute an offer to sell, or the solicitation of an offer to buy securities in any jurisdiction, including the United States, other than the provinces and territories of Canada. The securities being offered pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"), or the securities laws of any state of the United States. Such securities may not be offered or sold in the United States or to, or for the account or benefit of, any U.S. Person (as defined in Regulation S of the US Securities Act) or person in the United States except in a transaction exempt from or not subject to the registration requirements of the US Securities Act and applicable state securities laws.
About Denarius Metals
Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of polymetallic mining projects in high-grade districts. The Company owns a 100% interest in the Lomero Project, a polymetallic deposit located on the Spanish side of the prolific copper rich Iberian Pyrite Belt, one of the largest districts of pyrite-rich massive sulfide deposits in the world. The Company recently acquired a 50% interest in Rio Narcea Recursos, S.L. which has the rights to exploit the historic producing Aguablanca nickel-copper mine, including a 5,000 tpd processing plant, located in Monesterio, Extremadura, Spain, approximately 88 km from the Company's Lomero Project. The Company is also carrying out an exploration campaign on the Toral Zn-Pb-Ag Project located in the Leon Province, Northern Spain pursuant to a definitive agreement signed in 2022 for an option and joint-venture arrangement with Europa (AIM: EUZ) pursuant to which Europa has granted Denarius Metals two options to acquire up to an 80% ownership interest in Europa Metals Iberia S.L. ("EMI"), a wholly-owned Spanish subsidiary of Europa which holds the Toral Project. The Company is carrying out construction activities at its 100%-owned Zancudo Project in Colombia, which includes the historic producing Independencia mine, providing an opportunity to develop near-term production and cash flow commencing this year through local contract mining and long-term growth through continued exploration of the Zancudo deposit which remains open in all directions.
Additional information on Denarius can be found on its website at www.denariusmetals.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.
Cautionary Statement on Forward-Looking Information
Neither the 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.
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the listing of the Debentures on Cboe Canada, the use of proceeds of the Offering, the Company's strategic plans and timing and expectation of commencement of mining operations at its Zancudo Project. 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 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 April 21, 2023 which is available for view on SEDAR at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this press release and Denarius 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
investors@denariusmetals.com
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199955
SOURCE: Denarius Metals Corp.
