Denarius Metals Announces Details for the July 31, 2025 Interest Payments on Its Convertible Unsecured Debentures

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Denarius Metals (OTCQX:DNRSF) has announced details for the July 31, 2025 interest payments on its convertible unsecured debentures. The company will issue a total of 657,201 common shares to settle CA$341,745 in interest payments on its 2023 and 2024 Debentures.

The interest payment covers CA$19.9 million in 2023 Debentures (due October 2029) and CA$14.3 million in 2024 Debentures (due May 2030). The share issuance rate is 0.019231 shares per CA$1.00 of principal, based on the July 16, 2025 closing price of CA$0.52 per share. Company executives, including the Executive Chairman and CEO, will receive 168,226 common shares for their debenture holdings.

Toronto, Ontario--(Newsfile Corp. - July 28, 2025) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today the details for the forthcoming monthly interest payments on July 31, 2025 on its convertible unsecured debentures due October 19, 2029 (the "2023 Debentures") and May 30, 2030 (the "2024 Debentures").

The table below summarizes the details for the shares to be issued to holders of the 2023 Debentures and 2024 Debentures on July 31, 2025 in settlement of the monthly interest due on that date:

	Principal Amount of Debentures (1) (CA$)	Interest (CA$)	Number of Shares to be Issued (2)	Number of Shares  per CA$1.00 of Principal
2023 Debentures
Total before the following	19,521,000	195,210	375,403	0.019231
Consent Fee Debentures (3)	365,560	3,656	7,030	0.019231
Total issued & outstanding	19,886,560	198,866	382,433
2024 Debentures
Total before the following	14,015,460	140,155	269,528	0.019231
Consent Fee Debentures (3)	272,454	2,724	5,240	0.019231
Total issued & outstanding	14,287,914	142,879	274,768
Total	34,174,474	341,745	657,201

 

(1) Issued and outstanding as of July 25, 2025.
(2) Based on the closing price of the common shares on Cboe CA of CA$0.52 per share on July 16, 2025, the Monthly Measurement Date pursuant to the Third Supplemental Indentures for the 2023 Debentures and the 2024 Debentures.
(3) The Consent Fee Debentures were issued on June 18, 2025 pursuant to the consent solicitation process and are currently subject to a statutory four month hold period. As such, the common shares to be issued in settlement of the interest thereon will be subject to the same hold period.

The issuance of the common shares in settlement of the interest payable on the debentures on July 31, 2025 is subject to the acceptance of Cboe Canada.

Mr. Serafino Iacono (Executive Chairman), Mr. Federico Restrepo-Solano (Director and CEO), Mr. Michael Davies (Chief Financial Officer) and Ms. Amanda Fullerton (General Counsel and Secretary) will receive an aggregate of 168,226 common shares in settlement of the interest payable on their respective holdings of 2023 Debentures and 2024 Debentures.

About Denarius Metals

Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of precious metals and polymetallic mining projects in high-grade districts in Colombia and Spain. Denarius Metals is listed on Cboe Canada where it trades under the symbol "DMET". The Company also trades on the OTCQX Market in the United States under the symbol "DNRSF".

In Colombia, Denarius Metals commenced mining operations in the second quarter of 2025 at its 100%-owned Zancudo Project, a high-grade gold-silver deposit, which includes the historic producing Independencia mine, located in the Cauca Belt, about 30 km southwest of Medellin.

In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals. The Company owns a 21% interest in Rio Narcea Recursos, S.L. and is the operator of its Aguablanca Project, which has been recognized by the EU as a Strategic Project. The Aguablanca Project comprises a turnkey 5,000 tonnes per day processing plant and the rights to exploit the historic producing Aguablanca nickel-copper mine, located in Monesterio, Extremadura. Denarius Metals also owns a 100% interest in the Lomero Project, a polymetallic deposit located on the Spanish side of the prolific copper rich Iberian Pyrite Belt, approximately 88 km southwest of the Aguablanca Project, and a 100% interest in the Toral Project, a high-grade zinc-lead-silver deposit located in the Leon Province, Northern Spain.

Additional information on Denarius Metals 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

This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies, including Cboe Canada final acceptance of the share issuance. 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 Metals 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 March 31, 2025 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 Metals 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260202

FAQ

What is the total value of interest payments being made by Denarius Metals (DNRSF) on July 31, 2025?

Denarius Metals will make interest payments totaling CA$341,745, settled through the issuance of 657,201 common shares.

How many shares will Denarius Metals (DNRSF) issue for the July 2025 interest payment?

Denarius Metals will issue a total of 657,201 common shares, with 382,433 shares for 2023 Debentures and 274,768 shares for 2024 Debentures.

What is the conversion rate for Denarius Metals' (DNRSF) interest payment shares?

The conversion rate is 0.019231 shares per CA$1.00 of principal, based on the closing price of CA$0.52 per share on July 16, 2025.

When do Denarius Metals' (DNRSF) convertible debentures mature?

The 2023 Debentures mature on October 19, 2029, and the 2024 Debentures mature on May 30, 2030.

How many shares will Denarius Metals' (DNRSF) executives receive in the interest payment?

Company executives, including the Executive Chairman, CEO, CFO, and General Counsel, will receive an aggregate of 168,226 common shares for their debenture holdings.