Vertex Minerals Secures AU$5.1 million Convertible Loan to Advance Gold Mining Operations.

Vertex Minerals Limited (ASX: VTX) has secured firm commitments for AU$5.1 million in convertible loan financing from institutional and sophisticated investors. The funds will support the completion of gold plant construction, infrastructure development, underground mining at the Reward Gold Mine, and general working capital. The loan facility, with a 2-year term and 10% interest rate, allows conversion to fully paid ordinary shares at AU$0.17 per share. Investors converting within six months will receive two free attaching VTXOA options for every five shares, subject to shareholder approval. 

CPS Capital Group acted as the lead manager, earning management and placement fees and receiving 1.5 million listed options, subject to approval. Executive Chairman Roger Jackson expressed confidence in the financing arrangement, highlighting its unsecured nature and absence of restrictive covenants. Vertex’s focus remains on commencing gold processing and underground mining, aligning with its goal of ethical and sustainable gold production.

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