Hot Chili Limited Reports Maturity of Convertible Notes
Hot Chili Limited Reports Maturity of Convertible Notes
PERTH, AUSTRALIA – June 30, 20 22 – Hot Chili Limited (ASX:HCH; TSXV:HCH ;
OTCQX:HHLKF) ("Hot Chili " or the " Company") advises that it has issued an aggregate of
6,588,126 ordinary shares of the Company ("Ordinary Shares") in satisfaction of A$6,081,458.72
payable for the remaining principal amount plus accrued interest on the convertible notes of the
Company that matured on June 22, 2022 (the "Maturity Date").
The issue price per Ordinary Share of A$0.92309 was determined in accordance with the terms
set out in the convertible note trust deed dated May 25, 2017 and varied June 19, 2017 , being
the 10-day volume weighted average price of the Ordinary Shares on the Australian Securities
Exchange to the Maturity Date . The Ordinary Shares are not subject to a statutory hold period
under applicable securities laws.
About Hot Chili
Hot Chili Limited is a mineral exploration company with assets in Chile. The Company's flagship
project, Costa Fuego, is the consolidation into a hub of the Cortadera porphyry copper -gold
discovery and the Productora copper-gold deposit, set 14 km apart in an excellent location – low
altitude, coastal range of Chile, infrastructure rich, low capital intensity. The Costa Fuego
landholdings, contains an Indicated Resource of 725Mt grading 0.47% CuEq (copper equivalent),
containing 2.8 Mt Cu, 2.6 Moz Au, 10.4 Moz Ag, and 67 kt Mo and an Inferred Resource of 202
Mt grading 0.36% CuEq containing 0.6Mt Cu, 0.4 Moz Au, 2.0 Moz Ag and 13 kt Mo, at a cut -off
grade of +0.21% CuEq for open pit and +0.30% CuEq for underground. The Company is working
to advance its Costa Fuego Project through a preliminary feasibility study (followed by a full FS
and DTM), and test several high-priority exploration targets.
Cautionary Statement
Certain statements contained in this news release, including information as to the future financial
or operating performance of Hot Chili and its projects may include statements that are "forward ‐
looking statements" which may include, amongst other things, statements regarding targets,
estimates and assumptions in respect of mineral reserves and mineral resources and anticipated
grades and recovery rates, production and prices, recovery costs and results, and capital
expenditures and are or may be based on assumptions and estimates related to future technical,
economic, market, political, social and other conditions. These forward-looking statements are
necessarily based upon a number of estimates and assumptions that, while considered
reasonable by Hot Chili, are inherently subject to significant technical, business, economic,
competitive, political and social uncertainties and contingencies and involve known and unknown
risks and uncertainties that could cause actual events or results to differ materially from estimated
or anticipated events or results reflected in such forward ‐looking statements. Hot Chili disclaims
any intent or obligation to update publicly or release any revisions to any forward ‐looking
statements, whether as a result of new information, future events, circumstances or results or
otherwise after the date of this news release or to reflect the occurrence of unanticipated events,
other than as may be required by law. The words "believe", "expect", "anticipate", "indicate",
"contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule"
and similar expressions identify forward‐looking statements. All forward‐looking statements made
in this news release are qualified by the foregoing cautionary statements. Investors are cautioned
that forward ‐looking statements are not a guarantee of future perfor mance and accordingly
- 2 -
investors are cautioned not to put undue reliance on forward ‐looking statements due to the
inherent uncertainty therein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this news release.
Contact Details
Investor Relations
Graham Farrell
+1 416-842-9003
Investor Relations
Jonathan Paterson
+1 475-477-9401
Hot Chili, CEO
Christian Easterday
Company Website
https://www.hotchili.net.au/investors/