03:47 PM EDT, 09/29/2026 (MT Newswires) -- Atico Mining (ATY.V) said Tuesday that it has entered a $95 million secured project finance facility with Trafigura to develop its La Plata project in Ecuador.

Trafigura will make the funds available in one or more drawdowns to finance the project, according to the statement.

Atico will also issue a five-year debenture with a face value of $16.4 million to Trafigura. The debenture will be convertible into Atico shares at $0.22 each. The conversion price is a 40% premium to the 20-day volume-weighted average price (VWAP) of the closing price of the shares on Sept. 28, the statement said.

Proceeds from the debenture will be used to pay down debt.

"This financing package for the La Plata project is the result of a competitive review process which assessed several alternatives aimed at finding the best value for our shareholders. Given our decade-long relationship with Trafigura and their deep knowledge of the La Plata project, this result was both competitive and a natural fit," said Atico Chief Executive Officer Fernando Ganoza.

"The financial flexibility provided by this package allows us to strengthen our balance sheet while simultaneously funding all necessary pre-construction activities," he added.

Atico shares were last seen up CA$0.01 at CA$0.22 on the TSX Venture Exchange.

Price: 0.22, Change: +0.01, Percent Change: +4.76

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