GENEVA, Oct. 22, 2026 /CNW/ -- Urion Investments Holdings Sárl (the "Acquiror") acting on behalf of the Trafigura Group ("Trafigura"), announces that on October 15, 2026 it acquired 16,149,870 common shares (the "Common Shares") and a secured convertible debenture in the principal amount of US$16,400,000 (the "Convertible Debenture") of Atico Mining Corporation (the "Issuer") (TSXV: ATY), a corporation with its head office at Suite 501, 543 Granville Street, Vancouver, British Columbia, V6C 1X8.
The Common Shares were issued at a deemed price of approximately US$0.1548 per Common Share pursuant to a debt settlement agreement between the Issuer and Trafigura PTE. Ltd. ("Trafigura PTE"), an affiliate and joint actor of the Acquiror, in settlement of US$2,500,000 (C$3,524,250) owing under a credit agreement dated February 8, 2022 (as amended) among, inter alia, the Issuer, as borrower, and Trafigura PTE, as lender (the "Credit Agreement"). The Convertible Debenture was issued by way of non-brokered private placement in consideration for an advance of approximately US$12.48 million and the conversion of approximately US$3.52 million owing under the Credit Agreement, for aggregate consideration of approximately US$16 million (C$22,555,200) after accounting for the original issue discount. Canadian dollar amounts are based on the Bank of Canada daily exchange rate on October 19, 2026 of C$1.00 = US$0.7094.
The Convertible Debenture is convertible into Common Shares at a conversion price of US$0.22 per Common Share, or up to 74,545,454 Common Shares on conversion of the full principal amount. Absent TSX-V and disinterested shareholder approval, however, only 27,323,116 Common Shares are issuable on conversion under the terms of the Convertible Debenture. The Convertible Debenture matures five years and one day from issuance and bears interest, payable quarterly, at 7.0% per annum if paid in cash or 10.0% per annum if paid in Common Shares.
Immediately prior to the closing of the transactions, neither the Acquiror nor Trafigura [nor any other joint actor] beneficially owned or control any Common Shares. Immediately following closing, Trafigura, through the Acquiror, beneficially owns and controls 16,149,870 Common Shares, representing approximately 8.1% of the 199,119,767 issued and outstanding Common Shares on a non-diluted basis, and approximately 19.9% on a partially diluted basis assuming conversion of the Convertible Debenture to the maximum permitted under its terms absent TSX-V and disinterested shareholder approval.
The Common Shares and the Convertible Debenture are held by Trafigura for investment purposes and were acquired in connection with the refinancing and settlement of the Issuer's indebtedness under the Credit Agreement. The Acquiror may acquire additional Common Shares on conversion of the Convertible Debenture (including on a forced conversion by the Issuer) or on payment of interest in Common Shares. Depending on market conditions, the Issuer's business and prospects and other relevant factors, the Acquiror may also increase or decrease its holdings of securities of the Issuer from time to time, whether in the open market, through privately negotiated transactions or otherwise, subject to applicable securities laws and TSX-V policies.
In satisfaction of the requirements of National Instrument 62-104 Take-Over Bids and Issuer Bids and National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, an early warning report containing additional information omitted from this news release will be filed under the Issuer's profile on SEDAR+ at www.sedarplus.ca. A copy of the early warning report may be obtained by contacting Martin Dutto, Head of STF LatAm Metals & Bulks at martin.dutto@trafigura.com.
Trafigura is a leading global commodities company that manages complex supply chains to move energy and commodities around the world. The Acquiror is a subsidiary of Trafigura. The Acquiror's head office is located at Rue de Jargonnant 1, 1207 Genève, Switzerland.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the Acquiror's potential future acquisitions or dispositions of securities of the Issuer, the conversion of the Convertible Debenture and the payment of interest in Common Shares. Such statements are based on the Acquiror's current expectations and assumptions, including assumptions regarding market conditions and the Issuer's business, and are subject to risks and uncertainties, including changes in market conditions, the Issuer's financial condition and regulatory requirements, that could cause actual results to differ materially. The Acquiror undertakes no obligation to update forward-looking information except as required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or in any other jurisdiction.
SOURCE Urion Investments Holdings Sarl
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