Horizonte Minerals Plc (AIM/TSX: HZM) (“Horizonte” or the “Company”) announces that as part of the interim funding package as announced on 27th December 2023, pursuant to which the existing senior lenders had agreed to waivers including the deferral of interest originally due at 31st December 2023 to the end of February 2024 and subsequently extended to 29th March 2024, as announced on 1st March 2024, such senior lenders have now agreed to further extend the waivers until 30th April 2024.

Going forwards and as announced on 28th March 2024, there can be no guarantee that senior lenders will consent to further extend the current waivers. If no extension is agreed, deferred interest originally payable at the end of December 2023 and at the end of Q1 2024 will become immediately due and payable on 1st May 2024. If these amounts remain unpaid after becoming due and payable, the senior lenders will be entitled to: (a) immediately cancel the undrawn portion of the senior debt facility; (b) declare all outstanding senior debt amounts (including interest) immediately due and payable; and/or (c) seek to enforce the senior lenders’ security, which encompasses all or essentially all of the group’s assets.

As announced on 14 March 2024, Araguaia Níquel Metais Ltda (“ANML”), the Company’s Brazilian subsidiary, has been granted an injunction (Brazilian Precautionary Measure) giving it a 60-day stay period against the enforcement of debt and certain security held by senior lenders and creditors, in order to negotiate and work on a restructuring plan to be approved by its creditors.

see & read more on
https://horizonteminerals.com/uk/en/press-releases/2024/horizonte-corporate-update-2/