Abcourt Closes US$10,000,000 Increase to Debenture Financing With Glencore

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Postmedia has not reviewed the content. by GlobeNewswire Abcourt Closes US$10,000,000 Increase to Debenture Financing With GlencoreAuthor of the article:ROUYN-NORANDA, Quebec, Sept. 02, 2026 (GLOBE NEWSWIRE) — Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce that it has closed today (the “Closing Date”) its previously announced transaction with Glencore AG (“Glencore”) to increase the aggregate principal amount of the senior secured debenture announced on January 30, 2026 from US$30,000,000 to US$40,000,000 (the “Upsized Debenture”).THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountUnder the original senior secured debenture, a first tranche in the amount of US$18,125,000 was made available to Abcourt on January 30, 2026.Under the Upsized Debenture, the second tranche was increased from US$11,875,000 to US$21,875,000 and will be advanced in two instalments. The first instalment, in the amount of US$19,875,000, was advanced on the Closing Date. The remaining instalment, in the amount of US$2,000,000, will be advanced in October 2026.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againNo other material changes are proposed to the original senior secured debenture. Please see Abcourt’s news releases dated January 30, 2026 and August 6, 2026 for further details.The Corporation used a part of the proceeds from the first instalment under the Upsized Debenture to repay a US$12,000,000 secured credit facility with Nebari Natural Resources Credit Fund II, LP. The Corporation intends to use the remainder of the proceeds from the Upsized Debenture to (i) fund exploration work and capital expenditures at its Sleeping Giant and Flordin projects and (ii) provide additional working capital.The Upsized Debenture will mature on January 31, 2031 and bears interest until repayment in full at a rate equal to 1-Month SOFR plus 2.5% per annum.In accordance with the terms of the Upsized Debenture, the Corporation entered into a security arrangement with Glencore to register a first ranking security, subject to certain permitted liens, on the universality of the Corporation’s movable and immovable property, corporeal and incorporeal, present and future, of any nature whatsoever and wheresoever situated, including real property interests, mining rights, inventory and equipment.The Corporation issued 46,943,333 non-transferable warrants (the “Warrants”) to Glencore on the Closing Date. Each Warrant is exercisable to acquire one common share of the Corporation (a “Warrant Share”) at an exercise price of C$0.12 per Warrant Share until April 30, 2030.The Warrants remain subject to the final approval of the TSXV. The Warrants and any Warrant Shares issuable upon exercise thereof are subject to a statutory hold period in Canada expiring on January 3, 2027. These securities have not been, nor will they be, registered under the U.S. Securities Act, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Abcourt Mines Inc. is a Canadian gold development company with properties strategically located in northwestern Québec, Canada. Abcourt owns the Sleeping Giant Mine and Mill, as well as the Flordin property, where it focuses its development activities.For more information about Abcourt Mines Inc., please visit our website at www.abcourt.ca and view our filings under Abcourt’s profile on www.sedarplus.caPascal HamelinDany Cenac RobertPresident and CEOVP Communications and Corporate DevelopmentT : (819) 768-2857T : (514) 722-2276, poste 456Email: phamelin@abcourt.comEmail : ir@abcourt.comFORWARD-LOOKING STATEMENTSCertain information contained in this news release may constitute “forward-looking information” within the meaning of Canadian securities legislation. Generally, forward-looking information can be identified by using forward-looking terminology, such as “plans”, “aims”, “expects”, “projects”, “intends”, “anticipates”, “estimates”, “could”, “should”, “likely”, or variations of such words and phrases or statements specifying that certain acts, events or results “may”, “should”, “will” or “be achieved” or other similar expressions. Forward-looking statements, including the anticipated use of proceeds of the Upsized Debenture; the timing of disbursement of the additional instalment of the Upsized Debenture and the receipt of the final approval of the TSXV, are based on Abcourt’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause Abcourt’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements or information. Forward-looking statements are subject to business and economic uncertainties and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risk factors set forth in Abcourt’s public filings, which are available on SEDAR+ at www.sedarplus.ca. There can be no assurance that these statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Although Abcourt believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on such statements. Except as required by applicable securities laws, Abcourt disclaims any intention or obligation to update or revise any such forward-looking statements or information, whether as a result of new information, future events or otherwise.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.