> ## Content Index
> Fetch the complete content index at: https://redfiled.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# Abcourt Closes US$10M Debenture Upsize With Glencore, Repays Nebari Loan
- URL: https://redfiled.com/abcourt-closes-us-10m-debenture-upsize-with-glencore-repays-nebari-loan/
- Published: 2026-09-02T18:11:45.000Z
- Updated: 2026-09-04T15:35:10.000Z
- Description: Abcourt Mines lifted its Glencore senior secured debenture to US$40 million, drew US$19.875 million and repaid a US$12 million Nebari credit facility.
- Author: REDFILED Newsdesk
- Tags: ABI, ABMBF, Other

**Abcourt Mines (ABI)**, also quoted as **ABMBF** on the OTCQB, said on **September 2, 2026** that it has closed the previously announced transaction with **Glencore AG** to raise the aggregate principal amount of its senior secured debenture from **US$30 million to US$40 million**. The upsize was first announced on **August 6, 2026** and follows the original debenture agreed on **January 30, 2026**. The Quebec-based gold developer will use the money for exploration, capital spending and working capital.

Under the original structure, a first tranche of **US$18,125,000** was made available to Abcourt on **January 30, 2026**. The second tranche has now been increased from **US$11,875,000 to US$21,875,000** and will be paid out in two instalments. The first instalment of **US$19,875,000** was advanced on the closing date, with the remaining **US$2,000,000** scheduled for **October 2026**.

Part of the fresh proceeds went straight to debt repayment. Abcourt used the money to repay a **US$12,000,000 secured credit facility** with **Nebari Natural Resources Credit Fund II, LP**, effectively replacing that lender with Glencore as its principal secured creditor.

The remainder is earmarked to *fund exploration work and capital expenditures* at the **Sleeping Giant** and **Flordin** projects and to *provide additional working capital*. Abcourt owns the Sleeping Giant mine and mill and the Flordin property in northwestern Québec, where it concentrates its development work.

The so-called Upsized Debenture matures on **January 31, 2031** and carries interest until full repayment at **1-Month SOFR plus 2.5% per annum**. The company said **no other material changes** were made to the terms of the original senior secured debenture.

As part of the deal, Abcourt granted Glencore a **first ranking security**, subject to certain permitted liens, over the universality of its movable and immovable property, including real property interests, mining rights, inventory and equipment.

Abcourt also issued **46,943,333 non-transferable warrants** to Glencore on the closing date. Each warrant is exercisable for one common share at **C$0.12** until **April 30, 2030**, and the warrants remain subject to **final approval of the TSX Venture Exchange**. The securities are subject to a statutory Canadian hold period expiring on **January 3, 2027**.

For a small-cap developer, the transaction lengthens the debt maturity profile to 2031 at a floating rate tied to SOFR, while adding a sizeable block of potential dilution at C$0.12 per share and giving Glencore a first-ranking claim on essentially all of the company's assets.

[ABI, ABMBF stock price](https://www.tradingview.com/?ref=redfiled.com) by TradingView

This is a factual summary of a public filing or press release, not investment advice. Verify all figures against the source before acting on them.