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Vertex Minerals Limited (ASX:VTX)

ALERT: Price-sensitive ASX Announcement for VTX
Current share price for VTX : $0.098 -0.042 (-30%)+
Announcement
Release
25 Mar 2026 9:44AM
Price at Release
$0.140
Full Release
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Summary
Vertex Minerals Limited has announced the successful negotiation of convertible loan facilities totaling A$9 million, managed by Vert Capital Pty Ltd. The funds are raised in two tranches: A$6 million immediately and A$3 million on or about April 30, 2026. These loans, issued to unrelated sophisticated and professional investors, bear an interest rate of 10% per annum and are convertible to shares at a price determined by the lesser of A$0.14 or the company's 5-day VWAP price per share at conversion. For every three shares issued, investors receive one option. The funding will be used to support Vertex's operations at the Reward Gold Mine in Hill End, NSW, with further details outlined in Annexure A. Vert Capital, as the lead manager, is compensated with management and lead manager fees, which can be taken as shares, along with options contingent on shareholder approval. These developments are crucial for ramping up Vertex’s gold production and sales.
Key Points
  • Vertex Minerals Limited negotiates A$9 million convertible loan facilities.
  • Tranche 1 of A$6 million settled immediately, Tranche 2 of A$3 million by April 30, 2026.
  • Loans bear 10% interest, convertible into shares at a pre-determined price.
  • Funds to support operations at Reward Gold Mine, Hill End, NSW.
  • Lead Manager Vert Capital compensated with fees and options, subject to shareholder approval.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.