Technology Minerals (LSE:TM1) has entered amended settlement agreements with creditors Jonathan Swann and Atlas Special Opportunities II, updating terms first announced in January and revised twice since.
The London-listed company, which is repositioning itself around domestic critical minerals recycling and supply chain resilience, said the new deeds supersede all previous versions.
Under the revised terms with Swann, dated 13 July, the remaining balance held as a term loan rises to £1.275m from £1m, out of a total restructured amount of £2.9m.
Atlas' settlement, dated 14 July, cuts near-term cash outlay by £250,000.
Atlas will now receive £750,000 in cash, down from £1m, payable within three trading days of Technology Minerals receiving proceeds from its anticipated placing, with £650,000 remaining as a loan repayable within 24 months.
Should Technology Minerals raise further equity beyond the anticipated placing, 10% of net proceeds will go toward repaying the Atlas loan, while any new debt ranking pari passu or senior to it must be used to repay it in full first.
