Glencore AG closes upsize to senior debt financing with Abcourt Mines Inc.

On September 2, 2026, Glencore AG (“Glencore”) completed the previously announced transaction with Abcourt Mines Inc. (“Abcourt”) to increase the aggregate principal amount of the senior secured debenture of Abcourt announced on January 30, 2026 from US$30 million to US$40 million (the “Upsized Debenture”). The first instalment of the upsized second tranche under the Upsized Debenture was advanced by Glencore to Abcourt on the closing date. Abcourt also issued to Glencore 46,943,333 warrants to purchase common shares of Abcourt.

Glencore is one of the world's largest globally diversified natural resource companies.

McCarthy Tétrault advised Glencore with a team led by Charles-Antoine Soulière and Konstantin A. Sobolevski that included Julia Buggé and Ruo Lan Wang (Business), Joannie Jacques (Real Estate) and Antoine Lebrun (Financial Services).