Kinetic Development to Subscribe US$6.1 Million in Convertible Notes of MC Mining

Kinetic Mines & Energy Ltd. ( (HK:1277) ) has issued an announcement.

Kinetic Development Group Limited has agreed to provide funding to its indirect non-wholly owned subsidiary MC Mining through a subscription of unsecured convertible promissory notes totaling US$6.136 million. The notes, issued under a Note Purchase Agreement dated 11 June 2026, can be converted at the company’s option into fully paid ordinary shares of MC Mining at a fixed price of US$0.2089 per share, subject to standard anti-dilution adjustments.

MC Mining may draw down the committed funds via capital calls made between 11 June 2026 and 30 September 2026, with each utilization request specifying the intended use of proceeds and referencing a cash flow forecast. Once conditions are met, Kinetic Development is obligated to fund each approved request, providing MC Mining with flexible, staged access to capital that can support its operational and financial needs while potentially increasing Kinetic Development’s equity exposure to the mining business upon conversion.