05:09 PM EDT, 03/21/2024 (MT Newswires) -- Lifezone Metals ( LZM ) said late Thursday it signed a subscription agreement to issue $50 million of convertible debentures.

The company said the binding pact is with a mining investors' consortium led by Harry Lundin of Bromma Asset Management.

Proceeds will help continue activities at the company's Kabanga nickel project in northwest Tanzania.

The Kabanga feasibility study is on track for completion in Q3.