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Brazilian Critical Minerals Limited (ASX:BCM)

ALERT: Price-sensitive ASX Announcement for BCM
Current share price for BCM : $0.040 0.015 (60%)+
Announcement
Release
25 Nov 2025 7:35PM
Price at Release
$0.025
Full Release
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Summary
Brazilian Critical Minerals Limited (BCM) announced it has been served with a Writ of Summons by Drake Private Investments LLC in the Supreme Court of Western Australia. The litigation arises from a dispute over a convertible loan agreement, with Drake alleging violations in the issuance and pricing of shares related to the agreement. Specifically, Drake is claiming additional shares or options should have been issued in response to conversions and funding notices. BCM disputes these claims and plans to defend its position in court, stating it will not make further comments while litigation is ongoing.
Key Points
  • Brazilian Critical Minerals Limited (BCM) has been served with a Writ of Summons by Drake Private Investments LLC.
  • The dispute involves a convertible loan agreement dated 19 December 2019.
  • The claim concerns the breach in issuing shares and pricing regarding the advances under the agreement.
  • Drake claims the issuance of additional shares or options due to conversions announced on 28 August 2025.
  • BCM disputes the allegations and intends to defend the action in court.
  • The company will update the market as necessary but will not comment further due to ongoing litigation.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.