02:16 PM EDT, 07/23/2025 (MT Newswires) -- Trigon Metals ( PNTZF ) shares are trading lower on Wednesday after the company secured additional financing from an existing loan agreement from December 12, 2024, with Horizon Corp. for its Kombat Mine in Namibia.

The amendment to the existing deal provides an additional loan tranche of up to $7.2 million, which is intended to support operations at the Kombat Mine. Loan funds are expected to be distributed monthly, with approximately $255,000 expected to be allocated for each month until the company enters the closing of its interest in the Kombat mine to Horizon.

"This loan amendment ensures continuity of funding at the Kombat Mine during the transition period with Horizon. The additional support allows the team in Namibia to maintain operational momentum and support our workforce while we work towards closing the transaction," chief executive Jed Richardson said.

The company's shares were last seen down $0.005 to $0.25 on the TSX Venture Exchange.

Price: 0.25, Change: -0.01, Percent Change: -1.96