PPX Mining and RIVI Announce Partial Debenture Conversion

PPX Mining Corp. has announced that RIVI Opportunity Fund LP has opted for a partial conversion of its 5.00% secured convertible debenture, issuing 6.25 million common shares. This follows a prior conversion in April 2024, where RIVI converted US$500,000 for 12.5 million shares. The current outstanding principal is now reduced to US$3.65 million.

The conversion is part of an agreement from February 2023 that restructured PPX's gold and silver purchase obligations. Initially, a US$5.40 million debenture was issued to package past liabilities. The maturity date was deferred to December 31, 2026.

Brian Imrie of PPX expressed satisfaction with RIVI's decision, while John Menzies of RIVI highlighted their growing enthusiasm for PPX's progress.