From Financialpost · · 1m
Atico Closes $16.4M Debt Deal with Trafigura
Atico Mining settles legacy liabilities with Trafigura, funding La Plata project construction by Q1 2027.
In brief
Atico Mining settles legacy liabilities with Trafigura, funding La Plata project construction by Q1 2027. Atico Mining Corporation closed a $16.4 million convertible debenture with Trafigura to settle legacy liabilities and fund La Plata project construction starting in Q1 2027. Originally reported by Financialpost.
Atico Mining closes debt deal
Atico Mining Corporation closed a $16.4 million convertible debenture private placement with Trafigura affiliate.
Settles legacy liabilities
The company settles legacy liabilities due at end of this year and next year with Trafigura.
Funds La Plata project
Atico now fully funded to execute pre-construction activities through Q1 2027 construction start.
Trafigura credit agreement conversion
Trafigura converts $3.52 million debt to convertible debenture with $12.48 million advance.
Conversion terms
Convertible debenture converts at $0.22 per share, 40% premium over September 28, 2026 VWAP.
Maturity and interest terms
Debenture matures in 5 years and 1 day with 7% cash interest or 10% share interest.
The one thing
Atico Mining Corporation closed a $16.4 million convertible debenture with Trafigura to settle legacy liabilities and fund La Plata project construction starting in Q1 2027.
