Hot Chili Limited Reports Quarterly Interest Payment on Convertible Notes
Hot Chili Limited Reports Quarterly
Interest Payment on Convertible Notes
NEWS RELEASE BY HOT CHILI LIMITED
Hot Chili Limited (ASX:HCH; TSXV:HCH; OTCQX:HHLKF) ("Hot Chili" or the "Company") advises that
with respect to the quarter ended 31 March 2022, the Company has paid to the holders (the
"Holders") of convertible notes (the "Convertible Notes") issued on 22 June 2017 and 8 September
2017, interest (the "Interest Payment") in the amount of A$121,960.72 by the issue of 87,904 ordinary
shares of the Company ("Ordinary Shares") at a deemed issue price of A$1.38695 per Ordinary
Share.
In addition Hot Chili advises that it has issued 66,606 Ordinary Shares at a deemed value of
A$1.6665 per Ordinary Share to certain holders of the Convertible Notes, who elected to convert
their Convertible Notes in accordance with the terms thereof. The Convertible Notes were issued
by the Company on the terms set out in a trust deed dated May 25, 2017 and varied June 19, 2017.
The Ordinary Shares were issued to persons in offshore jurisdictions pursuant to Ontario Securities
Commission Rule 72-503 – Distributions Outside Canada and such securities are not subject to a
statutory hold period.
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 391Mt grading
0.52% CuEq (copper equivalent), containing 1.7 Mt Cu, 1.5 Moz Au, 4.2 Moz Ag, and 37 kt
Mo and an Inferred Resource of 334Mt grading 0.44% CuEq containing 1.2Mt Cu, 1.2 Moz
Au, 5.6 Moz Ag and 27 kt Mo, at a cut-off grade of 0.25% CuEq.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.
Perth, Australia | April 14, 2022 07:30 AM Eastern Daylight Time
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 performance and accordingly 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
Managing Director
Christian Easterday
Company Website
https://www.hotchili.net.au/investors/