Denarius Metals Secures Shareholder Approval for Debenture Restructuring
Denarius Metals shareholders have cleared the path for a major capital restructuring, voting overwhelmingly to approve the issuance of new common shares. The decision, finalized at a special meeting on July 17, allows the company to amend terms for its outstanding convertible debentures maturing in 2029 and 2030.
Investors representing 54.78% of the company's outstanding shares participated in the vote, with 97.47% of eligible votes cast in favor of the transaction. This mandate permits Denarius Metals to issue common shares exceeding the standard 25% threshold, a move required to satisfy the conditions of its amended trust indentures.
Following the vote, the board of directors moved to exercise an early redemption option. On July 31, 2026, the company expects to issue approximately 225,488,319 common shares to holders of its Series 1 and Series 2 debentures to settle interest and gold premium payments. The final execution of this issuance remains subject to approval by Cboe Canada.
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