REG - Celsius Resources Ld - Potential assignment of MIC OLSA

Celsius ResourcesAnnouncement

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RNS Number : 0199C  Celsius Resources Limited  27 April 2026

ASX/AIM Announcement 27 April 2026

 Potential assignment of MIC OLSA

Celsius Resources Limited ("Celsius" or the "Company") (+ASX, AIM: CLA) has
become aware that Maharlika Investment Corporation ("MIC") has issued a press
release with respect to the execution of an Assignment Agreement for the sale
and assignment of its loan position under the Omnibus Loan and Security
Agreement ("OLSA") with Makilala Mining Company Inc. ("MMCI") to Equinaire
Holdings Limited ("Equinaire"), a wholly owned subsidiary of Kiri Industries
Limited ("Kiri") of India.

A copy of this press release is appended to this announcement.

Celsius was not informed of MIC's intentions to progress a sale and assignment
of the OLSA to Kiri, has not yet received formal notification from MIC and was
not provided a copy of the press release ahead of its announcement.

The Company is assessing its position and is taking advice from its legal and
financial advisers.

 

This announcement has been authorised by the Managing Director and
Non-Executive Chair of Celsius Resources Limited.

 Celsius Resources Limited
 Bardin Davis - Managing Director  E: info@celsiusresources.com.au (mailto:info@celsiusresources.com.au)

                                   W: www.celsiusresources.com (http://www.celsiusresources.com)
 NWR Communications

 Peter Taylor                      P: +61 412 036 231 (tel:+61%20(0)%20412%20036%20231)

                                   E: peter@nwrcommunications.com.au (mailto:peter@nwrcommunications.com.au)

 Zeus Capital Limited

 (Nominated Adviser)               P: +44 (0) 20 3 829 5000

 James Joyce / James Bavister

 (Broking)

 Harry Ansell

Forward-Looking Statements

This announcement contains forward-looking information and prospective
financial material, which is predictive in nature and may be affected by
inaccurate assumptions or by known or unknown risks and uncertainties and may
differ materially from results ultimately achieved. Such forward-looking
statements are expectations or beliefs of the Company based on information
currently available to it.

 

 

 

PRESS RELEASE: MAHARLIKA INVESTMENT CORPORATION ANNOUNCES ASSIGNMENT OF MMCI
BRIDGE LOAN TO EQUINAIRE HOLDINGS LIMITED

April 25, 2026

 

MANILA, PHILIPPINES - The Maharlika Investment Corporation (MIC) today
announced the execution of an Assignment Agreement for the sale and assignment
of its loan position under the Omnibus Loan and Security Agreement (OLSA) with
Makilala Mining Company Inc. (MMCI) to Equinaire Holdings Limited (Equinaire),
a wholly owned subsidiary of Kiri Industries Limited (KIL) of India.

The transaction involves the transfer by MIC of its rights, title and
interests as lender under the OLSA, pursuant to which MIC had previously
extended a USD 10 million bridge loan facility to support the Front-End
Engineering Design (FEED) and feasibility study for the
Maalinao-Caigutan-Biyog (MCB) Copper-Gold Project.

In accordance with the OLSA, MMCI has been formally notified of the assignment
and retains the contractual right to prepay the outstanding loan in full
within fifteen (15) business days from receipt of such notice. In the absence
of full repayment within this period and the satisfaction of customary closing
conditions, the assignment will take effect in favor of Equinaire.

The transaction reflects MIC's disciplined investment approach and is expected
to deliver gross annualized returns that exceed the loan's stated interest
rate of 12.5% per annum, consistent with its mandate to generate appropriate
risk-adjusted returns while managing portfolio exposure.

The bridge loan facility was structured as a short-term catalytic investment
to support early-stage project development and to help advance a strategically
significant mining asset to a stage where it can attract long-term private
sector capital. With the completion of the FEED and feasibility workstreams,
MIC has achieved its objective of de-risking the project and facilitating the
entry of a new strategic investor.

Equinaire, through its parent KIL, brings with it a track record as an
established industrial group with growing interest in critical minerals and
downstream processing. KIL has commenced construction of a greenfield copper
smelting plant in India. Its participation reflects increasing international
investor confidence in the Philippines' mineral development sector.

‍

MIC President and Chief Executive Officer Rafael D. Consing, Jr. stated:

"This transaction underscores MIC's role as a catalytic investor, deploying
capital to unlock value in strategic sectors and creating pathways for
long-term private investment. The bridge financing enabled critical
early-stage work for the MCB Project, and this assignment allows MIC to
realize its returns while bringing in a capable international partner to
support the project's next phase of development."

The assignment is part of MIC's broader strategy to actively manage its
portfolio, recycle capital and support the mobilization of foreign investment
into priority sectors of the Philippine economy.

‍

About Maharlika Investment Corporation (MIC):

The Maharlika Investment Corporation is the Philippines' first sovereign
wealth fund, designed to mobilize government assets for investments that
generate optimal returns and support the country's long-term economic
development.

About Kiri Industries Limited (KIL):

KIL is an India-listed global manufacturer of dyes, intermediates and basic
chemicals, with expanding interests in critical minerals and industrial
processing. Through Equinaire, KIL is pursuing strategic investments in
resource development projects in high-growth markets, including the
Philippines. ###

 

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