Abcourt Mines Closes $40 Million Upsized Debenture With Glencore

11:13 AM EDT, 09/02/2026 (MT Newswires) -- Abcourt Mines (ABI.V) closed a deal with Glencore to increase the amount of a senior secured debenture financing announced on Jan. 30, to $40 million from $30 million, it said in a statement on Wednesday. The second tranche was increased to $21.9 million from $11.9 million, under the upsized debenture. The first instalment of the second tranche, in the amount of $19.9 million, was advanced on Wednesday. The company expects the remaining instalment, in the amount of $2 million, to be advanced in October. The debenture will mature on Jan. 31, 2031, and bears interest until repayment in full at a rate equal to the one-month Secured Overnight Financing Rate plus 2.5% per year, it said. Part of the proceeds from the first instalment was used to repay a $12 million secured credit facility with Nebari Natural Resources Credit Fund II, LP. Remainder of the proceeds are expected to be used to fund exploration work and capital expenses at its Sleeping Giant project located in Abitibi and Flordin project in Quebec and provide additional working capital, it said. Shares of the company were last seen up C$0.005, or 6.7%, to C$0.08 on the TSX Venture Exchange. Price: 0.08, Change: +0.01, Percent Change: +6.67