American Uranium (ASX:AMU) Completes A$1.235 Million Convertible Loan Note Raising

Sonal Goyal

11 September 2026 01:37 PM AEST

American Uranium (ASX:AMU) Completes A$1.235 Million Convertible Loan Note Raising

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Highlights

American Uranium Limited (ASX:AMU) has completed its A$1.235 million convertible Loan note raising, with funds received and notes issued within its ASX Listing Rule 7.1 capacity.
The funding supports advancement of the Lo Herma ISR Uranium Project, including a planned Scoping Study and the commencement of permitting activities.
The company intends to seek Shareholder approval to issue Facility Options and up to a further A$1.3 million of convertible loan notes on substantially similar terms.
The material terms of the facility were originally set out in an announcement dated 25 August 2026.

American Uranium Limited (ASX:AMU) (OTC:AMUIF) has announced the completion of its A$1.235 million convertible loan note raising, confirming that funds have been received and the Convertible Loan Notes issued within the company's ASX Listing Rule 7.1 capacity.

The raising provides the company, which is developing the Lo Herma In-Situ Recovery (ISR) Uranium Project, with additional funding flexibility as it progresses toward key technical and regulatory milestones.

Purpose and use of funds

According to the announcement, the Facility is intended to support American Uranium as it advances the Lo Herma ISR Uranium Project, specifically including the planned completion of a Scoping Study and the commencement of permitting activities.

ISR (in-situ recovery) uranium projects typically require substantial technical studies and regulatory approvals before reaching a construction decision. The additional funding is positioned to help the company progress through this phase of project development.

The material terms of the Facility were disclosed previously in the company's ASX announcement dated 25 August 2026, titled “Binding Commitments for A$1.235 Million Convertible Loan Notes.” The latest announcement confirms that those binding commitments have now resulted in funds being received and notes being issued.

Plans for further Capital and shareholder approval

Looking ahead, American Uranium has indicated its intention to convene a general meeting to seek shareholder approval for several related matters, including the Facility Options, any shares to be issued in lieu of interest payments, and a proposed further issue of up to A$1.3 million of convertible loan notes on substantially the same terms as the current Facility.

This suggests the company may be pursuing a staged approach to funding its ongoing exploration and development activities. The initial A$1.235 million Tranche could potentially be followed by further capital if shareholders approve the additional issuance.

About the Lo Herma ISR Uranium Project

While the announcement is focused on completion of the funding round rather than detailed technical developments, it confirms that Lo Herma remains the company's key development asset, with a Scoping Study and permitting activities identified as near-term priorities.

Securing funding ahead of these milestones provides the company with additional financial flexibility as it works through technical and regulatory processes.

The notes were issued within American Uranium's ASX Listing Rule 7.1 capacity, which governs the amount of Equity securities a listed company can issue without shareholder approval within a 12-month period.

Structuring the raise this way allowed the company to complete the initial transaction without requiring a general meeting. Shareholder approval will nevertheless be sought for the associated options and any further note issuance requiring approval.

Conclusion

American Uranium's completion of its A$1.235 million convertible loan note raising provides near-term funding as the company works toward completing a Scoping Study and commencing permitting for the Lo Herma ISR Uranium Project.

With plans to seek shareholder approval for further capital of up to A$1.3 million, the company is positioning itself to continue funding project advancement. The ultimate progress of Lo Herma, however, will depend on the outcomes of the Scoping Study, permitting processes and future uranium market conditions.

FAQs

Q: What is American Uranium's ASX ticker code?

A: American Uranium Limited trades on the ASX under the code AMU and on OTC markets under the code AMUIF.

Q: How much did American Uranium raise through its convertible loan notes?

A: The company completed a A$1.235 million convertible loan note raising, with funds received and notes issued within its ASX Listing Rule 7.1 capacity.

Q: What will the funds be used for?

A: The funds will provide additional funding flexibility as American Uranium advances the Lo Herma ISR Uranium Project, including completing a Scoping Study and commencing permitting activities.

Q: Is American Uranium planning to raise further capital?

A: Yes. The company intends to convene a general meeting seeking shareholder approval for Facility Options, shares issued in lieu of interest, and a further issue of up to A$1.3 million of convertible loan notes on substantially similar terms.

Q: Where were the original terms of this Facility disclosed?

A: The material terms were set out in American Uranium's ASX announcement dated 25 August 2026, titled “Binding Commitments for A$1.235 Million Convertible Loan Notes.”

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