Denarius Metals Corp. announced a private placement of 25,000 senior unsecured convertible debentures at a price of CAD 1,000 per debenture for the gross proceeds of CAD 25,000,000 on September 13, 2023. The debentures are non-callable and will mature and become payable in full on the date which is five years from the date of issuance.

The debentures will have a coupon rate of 12% per annum. The debentures will be subject to a statutory hold period of four months plus one day after the date of issuance. The debentures will be convertible at a holder's option into common shares of the company at a conversion price of CAD 0.60 per share plus any accrued and unpaid interest.

The transaction is expected to close in early October, completion of the offering is subject to regulatory approvals, including approval from the TSX Venture Exchange.