EMP METALS AMENDS TEMBO LOAN FACILITY WITH A CONVERSION FEATURE AND EXTENDS LOAN BY 18 MONTHS

Executive Summary

• EMP Metals amended its US $3 million loan with Tembo Capital, extending maturity to June 30 2027 and adding a conversion right at $0.425 per share.
• The company will issue 485,294 common share purchase warrants as an arrangement fee, exercisable at CDN$0.425 for two years.
• The loan bears interest at 13.5% per annum; all securities are subject to a four‑month resale restriction.

Key Details

• Original Loan: US $3 million facility with Tembo Capital Holdings Guernsey Limited.
• Extended Maturity: From 31 Dec 2025 to 30 Jun 2027 (extendable by mutual agreement).
• Conversion Feature: Tembo may convert any or all of the principal plus accrued interest into common shares at a conversion price of $0.425 per share.
• Interest Rate: Fixed at 13.5% per annum on outstanding principal.
• Arrangement Fee: US $150,000 payable via issuance of 485,294 common share purchase warrants.
• Warrant Terms: Each warrant allows purchase of one common share at an exercise price of CDN$0.425, exercisable for two years from issuance.
• Resale Restrictions: All securities issued under the agreement are restricted from resale for four months after issuance.

Notable Quotes

(No direct quotes were provided in the release.)