Terramin Australia Limited: Secures US$6.68 million Investment

Terramin Australia Limited (ASX: TZN) confirms securing a substantial US$6.68 million (approximately AU$10.00 million) investment from Conest Resources Limited via a Convertible Note. Upon receiving the funds shortly, the Note will be issued, featuring a maturity date in three years (mid-January 2027) and allowing conversion to fully paid ordinary shares after a two-year period (mid-January 2026).

The conversion price hinges on the volume-weighted average price of Terramin shares traded on the ASX over ten days preceding the conversion date. This unlisted Note bears a 2.5% annual interest rate, payable upon maturity if not converted, and includes a lock-in period preventing the transfer or sale of acquired shares to unrelated third parties until maturity. In the event of non-conversion, the Note becomes repayable in cash, comprising the issue value and accumulated interest.

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