Atico Mining closes $16.4 M convertible debenture and settles $2.5 M debt with Trafigura
Atico Mining Corporation completed a private placement of a US$16.4 million secured convertible debenture to an affiliate of Trafigura. The debenture carries a 7‑10% interest rate, a conversion price of US$0.22 per share and matures five years and one day after issuance. Simultaneously, Atico issued 16,149,870 common shares at an implied US$0.1548 per share to settle US$2.5 million of legacy debt under its existing credit agreement with Trafigura. Proceeds will fund pre‑construction of the La Plata gold‑copper project and general corporate purposes.
Why it matters
The company said the closing strengthens its balance sheet and provides full funding for La Plata pre‑construction, targeting construction start in Q1 2027. The settlement removes all outstanding obligations under the Trafigura credit agreement, improving cash liquidity.
Key facts
- 1The convertible debenture has a face value of US$16.4 million. standard-freeholder.com
- 2Interest on the debenture accrues at 7.0% per annum if paid in cash or 10.0% per annum if paid in shares. standard-freeholder.com
- 3The conversion price is US$0.22 per common share. standard-freeholder.com
- 4The debenture matures five years and one day from issuance. standard-freeholder.com
- 5Atico issued 16,149,870 common shares at an implied price of US$0.1548 per share to settle US$2.5 million of debt. finanznachrichten.de
- 6The settlement fully repaid the existing Trafigura credit agreement, leaving no further amounts owed. standard-freeholder.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.