Rusoro Announces Closing of Promissory Note Financing
Rusoro Mining (TSXV: RML) has successfully closed a financing through unsecured, non-interest-bearing promissory notes. The subscribers provided an aggregate of US$1.7 million to the company. The notes have a unique structure where the principal repayment amount varies: US$5.1 million if paid by July 31, 2028, or US$6.8 million if paid after that date.
The repayment is contingent on proceeds from the company's successful enforcement of its arbitral award against Venezuela regarding the unlawful expropriation of Rusoro's Venezuelan investments. The funds will be used for legal expenses related to enforcing the arbitral award and working capital.
Rusoro Mining (TSXV: RML) ha completato con successo un finanziamento tramite cambiali non garantite e senza interessi. Gli investitori hanno fornito un totale di 1,7 milioni di dollari USA all'azienda. Le cambiali hanno una struttura particolare in cui l'importo del rimborso del capitale varia: 5,1 milioni di dollari USA se pagato entro il 31 luglio 2028, oppure 6,8 milioni di dollari USA se pagato successivamente a tale data.
Il rimborso dipende dai proventi ottenuti dall'azienda dall'esecuzione con successo del suo lodo arbitrale contro il Venezuela, relativo all'espropriazione illegale degli investimenti venezuelani di Rusoro. I fondi saranno utilizzati per le spese legali connesse all'esecuzione del lodo arbitrale e per il capitale circolante.
Rusoro Mining (TSXV: RML) ha cerrado con éxito una financiación mediante pagarés no garantizados y sin intereses. Los suscriptores aportaron un total de 1,7 millones de dólares estadounidenses a la compañía. Los pagarés tienen una estructura única donde el monto del reembolso del principal varía: 5,1 millones de dólares si se paga antes del 31 de julio de 2028, o 6,8 millones de dólares si se paga después de esa fecha.
El reembolso está condicionado a los ingresos provenientes de la ejecución exitosa del laudo arbitral de la compañía contra Venezuela, relacionado con la expropiación ilegal de las inversiones venezolanas de Rusoro. Los fondos se destinarán a gastos legales relacionados con la ejecución del laudo arbitral y al capital de trabajo.
Rusoro Mining (TSXV: RML)은 무담보 무이자 약속어음으로 자금 조달을 성공적으로 마무리했습니다. 투자자들은 회사에 총 170만 달러를 제공했습니다. 이 약속어음은 원금 상환 금액이 달라지는 독특한 구조를 가지고 있습니다: 2028년 7월 31일까지 상환 시 510만 달러, 이후 상환 시 680만 달러입니다.
상환은 베네수엘라에 대한 루소로의 베네수엘라 투자 불법 수용과 관련된 중재 판정의 성공적인 집행에서 발생하는 수익에 따라 결정됩니다. 자금은 중재 판정 집행과 관련된 법적 비용 및 운전자본에 사용될 예정입니다.
Rusoro Mining (TSXV : RML) a clôturé avec succès un financement par billets à ordre non garantis et sans intérêt. Les souscripteurs ont apporté un total de 1,7 million de dollars US à la société. Les billets ont une structure particulière où le montant du remboursement du principal varie : 5,1 millions de dollars US s'il est payé avant le 31 juillet 2028, ou 6,8 millions de dollars US s'il est payé après cette date.
Le remboursement dépend des recettes issues de l'exécution réussie de la sentence arbitrale de la société contre le Venezuela concernant l'expropriation illégale des investissements vénézuéliens de Rusoro. Les fonds seront utilisés pour les frais juridiques liés à l'exécution de la sentence arbitrale et pour le fonds de roulement.
Rusoro Mining (TSXV: RML) hat erfolgreich eine Finanzierung durch ungesicherte, zinslose Schuldscheine abgeschlossen. Die Zeichner stellten dem Unternehmen insgesamt 1,7 Millionen US-Dollar zur Verfügung. Die Schuldscheine haben eine besondere Struktur, bei der sich der Rückzahlungsbetrag des Kapitals ändert: 5,1 Millionen US-Dollar, wenn die Zahlung bis zum 31. Juli 2028 erfolgt, oder 6,8 Millionen US-Dollar, wenn sie danach erfolgt.
Die Rückzahlung hängt von den Erlösen aus der erfolgreichen Durchsetzung des Schiedsspruchs des Unternehmens gegen Venezuela wegen der rechtswidrigen Enteignung der venezolanischen Investitionen von Rusoro ab. Die Mittel werden für Rechtskosten im Zusammenhang mit der Durchsetzung des Schiedsspruchs und für das Betriebskapital verwendet.
- Secured US$1.7 million in immediate financing through promissory notes
- No fixed maturity date or interest payments required on the notes
- Potential for continued pursuit of arbitral award against Venezuela
- High repayment premium (3x initial investment if paid by 2028, 4x after)
- Payment contingent on successful enforcement of arbitral award against Venezuela
- Ongoing legal expenses and uncertain timeline for award collection
Vancouver, British Columbia--(Newsfile Corp. - July 28, 2025) - Rusoro Mining Ltd. (TSXV: RML) (the "Company" or "Rusoro") announces it has closed a financing of unsecured, non-interest-bearing promissory notes (the "Notes"). In consideration for the notes, the subscribers paid the Company an aggregate of US
The Notes do not have any fixed maturity date. The principal amount payable to the subscribers under the Notes is US
Proceeds from the financing will be applied to payment of legal expenses relating to the Company's ongoing activities to enforce its arbitral award against the Bolivarian Republic of Venezuela and for working capital.
ON BEHALF OF THE BOARD
"Andre Agapov"
Andre Agapov, President & CEO
For further information, please contact:
Rusoro Mining Ltd.
Gordon Keep
E; gkeep@fiorecorporation.com
T: 604 609-6110
Cautionary Note Regarding Forward-Looking Information and Statements:
"This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Rusoro Mining Ltd. in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Rusoro's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca. Rusoro Mining Ltd. disclaims any obligation to update or revise any forward-looking information or statements except as may be required."
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260214
FAQ
What is the value of Rusoro Mining's (RMLFF) new promissory note financing?
How will Rusoro Mining use the proceeds from the promissory note financing?
What are the terms of Rusoro Mining's promissory notes issued in July 2025?
When does Rusoro Mining need to repay the promissory notes?
What is the status of Rusoro Mining's arbitral award against Venezuela?
