The approval clears the shareholder vote needed for Denarius to proceed with redeeming its Series 1 and Series 2 debentures into common shares, subject to Cboe Canada approval.
Denarius Metals Corp. said shareholders approved the previously announced resolution needed to allow the company to issue common shares in excess of 25% of its outstanding stock and to proceed with potential share issuances tied to amendments for its convertible unsecured debentures maturing on October 19, 2029 and May 30, 2030. Shareholders holding 116,910,789 common shares, or 54.78% of the outstanding common shares as of the record date, were represented by proxy at the July 17 special meeting. About 97.47% of eligible votes were cast in favor after 71,925,740 common shares were excluded for minority approval purposes under Multilateral Instrument 61-101 and Cboe Canada rules. Following the meeting, the board resolved to exercise the early redemption option and settle certain interest and gold premium payments in common shares on July 31, 2026 for both the Series 1 and Series 2 debentures. Denarius expects to issue about 225,488,319 common shares to debentureholders on that date, though the share issuance still requires Cboe Canada approval.