Denarius Metals Seeks Shareholder Approval to Retire Debentures

The company has begun distributing meeting materials to holders of its Series 1 and Series 2 convertible unsecured debentures, as well as its shareholders. These meetings are scheduled for July 16 and July 17, 2026, where stakeholders will vote on amendments to trust indentures. If approved, the transaction grants Denarius Metals the right to execute an early redemption of the debt and settle interest and gold premium payments through the issuance of approximately 225.5 million common shares.

Management and the board of directors have unanimously recommended that stakeholders vote in favor of the proposal. The board cited the need to preserve financial flexibility and avoid additional financing risks as primary drivers for the reorganization. An independent valuation provided by Blair Franklin Capital Partners Inc. on June 15, 2026, supports the move, which is also subject to regulatory approval by Cboe Canada. Insiders holding debentures will participate on the same economic terms as other investors, with no preferential treatment provided.