02:04 PM EDT, 07/28/2025 (MT Newswires) -- Rusoro Mining ( RMLFF ) on Monday said it closed a financing of unsecured, non-interest-bearing promissory notes.

The subscribers paid the company an aggregate of US$1.7 million in consideration for the notes.

The notes do not have any fixed maturity date. The principal amount payable to the subscribers under the notes is US$5.1 million if paid on or before July 31, 2028, and US$6.8 million if paid after that date.

The company said that the proceeds from the financing will be applied to payment of legal expenses relating to its ongoing activities to enforce its arbitral award against the Bolivarian Republic of Venezuela and for working capital.

"The principal amount will only become due and payable from proceeds received by the Company pursuant to any successful enforcement of its arbitral award against the Bolivarian Republic of Venezuela for its unlawful expropriation of the Company's Venezuelan investments," said the company.

The company's shares were last seen up $0.01 to $1.02 on the TSX Venture Exchange.

Price: 1.02, Change: +0.01, Percent Change: +0.99