Cyprium Metals Limited (AU:CYM) has released an update.
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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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