The Convertible Note was issued by Horizonte at a 5.75% discount and bears a fixed interest rate of 11.75% per annum, which shall be capitalised until the expected project completion of Horizonte’s
Immediately prior to the closing of the Second Completion, the Fund, indirectly through its subsidiary LMI, beneficially owned and exercised control or direction over 759,128,764 Ordinary Shares, representing approximately 19.96% of the issued and outstanding Ordinary Shares (on an undiluted basis).
Assuming the conversion of the Convertible Note in full as of the date hereof, the Fund (indirectly through its subsidiaries) would beneficially own an additional 130,372,280 Ordinary Shares, and would beneficially own and exercise control or direction over, an aggregate of 889,501,044 Ordinary Shares, representing approximately 22.62% of the outstanding Ordinary Shares (on a partially diluted basis).
The Fund completed the Private Placement and acquired the Convertible Note for business and investment purposes. In the future the Fund may, from time to time, increase or decrease its investment in Horizonte through market transactions, private agreements, treasury issuances, the conversion of the Convertible Note for Ordinary Shares or otherwise at any time subject to the terms of the Investment Agreement and other applicable restrictions.
About La Mancha Fund SCSp
La Mancha Fund SCSp (the “Fund”) is a Luxembourg-based deep value fund advised by
About
La Mancha Capital Advisory LLP (“La Mancha”) advises on strategic investments made by the Fund in publicly listed and private gold and energy transition commodity companies with a global outlook. La Mancha is a long-term minded investment advisor, with a mandate to support mining companies to achieve sustained growth by providing long-term equity capital as well as operational and board level expertise, to further portfolio company performance and expansion.
Contact
The Fund’s head office is located at 31-33 Avenue Pasteur L-2311 Luxembourg.
Horizonte’s head office is located at Rex House,
The Fund will file an early warning report in accordance with applicable Canadian securities laws, which will be available under Horizonte’s profile on the SEDAR website at www.sedar.com.
Further Information
Source: La Mancha Holding S.à.r.l.
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