Cyprium Metals Limited (AU:CYM) has released an update.
Cyprium Metals Limited has announced an amendment to their convertible note terms with Metals X, extending the redemption date by three years and adjusting the annual interest rate to 6%. The flexible arrangement, which includes a $5 million amendment fee and the issuance of 40.6 million options to Metals X, is a strategic move to refinance the balance sheet in preparation for the redevelopment of the Nifty copper mine. Shareholder approval for these changes will be sought in the upcoming meeting.
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