Cyprium Metals Limited announced that it has signed an exclusive Term Sheet with Transamine SA for USD 35 million in respect of a Copper Cathode Offtake Secured Prepayment Facility ("Offtake Prepayment Facility"). This Offtake Prepayment Facility is part of the targeted AUD 240 million to AUD 260 million debt funding package to finance the restart of the Nifty Copper Project, which is expected to include senior secured financing and secured offtake financing. The technical, legal, commercial and financial due diligence activities have been completed by Transamine SA, with the focus now turning to completing the offtake and financing documentation for execution, which is being done in conjunction with the prospective secured senior debt providers.

All of the approvals that are required prior to completion of financing have been received, with the final approval for the amendment to the State Agreement required to be submitted post finance.