Lifezone Metals Signs Binding Subscription Agreement for US$50 Million of Unsecured Convertible Debentures with Consortium of Marquee Mining Investors
Lifezone Metals Limited (LZM)
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Lifezone Metals Limited’s (NYSE: LZM) Chief Executive Officer, Chris Showalter, is pleased to announce the signing of a binding subscription agreement for the issuance of US$50 million of convertible debentures with a consortium of marquee mining investors, led by Harry Lundin (Bromma Asset Management Inc.) and Rick Rule.Proceeds will be used to continue activities at Lifezone’s flagship Kabanga Nickel Project, located in north-west Tanzania. Kabanga is believed to be one of the world’s largest and highest-grade undeveloped nickel sulfide deposits. The Kabanga Definitive Feasibility Study is on-track for completion in Q3 2024.Key Terms:US$50 million of unsecured convertible debentures. The debentures bear interest at a rate of the Secured Overnight Financing Rate (“SOFR”) plus 4.0% per annum, subject to a SOFR floor of 3.0%. Current SOFR is approximately 5.3%.During the 48-month term, the debentures can be redeemed early by Lifezone, subject to the achie
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News
- Lifezone Metals Provides an Update on Operations and Unaudited Q1 2024 Financial SummaryBusiness Wire
- Lifezone Metals to Provide its Q1 2024 Operational Update and Financial Summary on Monday, May 13, 2024Business Wire
- Lifezone Metals Limited (NYSE: LZM) had its price target lowered by analysts at BTIG Research from $14.00 to $11.00. They now have a "buy" rating on the stock.MarketBeat
- Lifezone Metals Announces Publication of Inaugural Annual ReportBusiness Wire
- Lifezone Metals Closes Private Placement of US$50 Million of Unsecured Convertible DebenturesBusiness Wire
LZM
Analyst Actions
- 4/3/24 - BTIG
LZM
Sec Filings
- 4/29/24 - Form EFFECT
- 4/24/24 - Form POS
- 4/1/24 - Form ARS
- LZM's page on the SEC website