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LONDON - Nativo Resources Plc (LON:NTVO), a company with gold mining interests in Peru, announced today that it is set to publish proposals for restructuring its EUR 10 million Notes due 2032. The company has scheduled a meeting with Noteholders on June 12, 2025, to discuss the restructuring plan which includes converting the debt into company shares.
The proposed amendments would allow the conversion of the principal and accrued interest into Nativo’s Ordinary Shares, with the interest rate on the Notes set at 0% from January 1, 2025. Conversion of the Notes would be contingent upon the company’s market capitalization exceeding £35 million for 10 consecutive business days or could occur at Nativo’s discretion after January 1, 2032, but no later than April 30, 2032.
Should the conversion take place, it would be executed at a 10% discount to the volume-weighted average price of an Ordinary Share for the 10 business days preceding the final conversion date. Additionally, a restructuring success fee in the form of warrants is proposed for Noteholders who vote in favor of the restructuring. These warrants would allow subscription to Ordinary Shares at 1.5 pence, equating to 5% of the principal value of the Notes voted in favor.
Christian Yates, Executive Chairman of Nativo, expressed optimism about the restructuring, stating that it would alleviate the company from the burden of its legacy debt and make it more attractive to investors. He underscored the company’s plans to reinitiate production at its gold mines and establish a gold ore processing plant, as well as a tailings cleaning plant to recover gold and silver, aiming to create value for shareholders and Noteholders.
Further details on the restructuring proposals will be available on Nativo’s website. This announcement is based on a press release statement and aims to provide Noteholders and investors with key information regarding the upcoming meeting and proposed changes to the company’s financial structure.
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