SRC Agrominerals Sales Inc. Completes $7.5 Million Equity Investment in Replenish Nutrients

SRC Agrominerals Sales Inc. (SRC), a privately-owned Canadian company focused on the commercialization of its Spanish River Carbonatite reserves – a mineral deposit located outside Sudbury, Ontario, closed the equity portion of its $15 million strategic investment into Replenish Nutrients Holding Corp. (RNH) and subscribed for 50,000,000 units of RNH at a price of $0.15 per unit, for an aggregate amount of $7.5 million. Each unit consisted of one common share and one-half of one common share purchase warrant, with each warrant being exercisable into one common share at a price of $0.225 for a period of four years following closing. As a result of the equity investment, SRC has taken an initial 19.9% interest in RNH.

SRC expects to close the debt portion of the strategic investment on or about August 14, 2026, whereby SRC will purchase from RNH a senior secured (second lien) convertible debenture in the principal amount of $7.5 million. In connection with the closing of the equity investment, SRC has entered into a supply agreement and an investor rights agreement with RNH. The supply agreement has a term of 10 years, under which, SRC will supply and deliver RNH with carbonatite, a calcium, phosphorus, trace-mineral and microbial-rich resource used for its soil-enhancing properties.

Wildeboer Dellelce LLP is acting for SRC with a team comprised of Perry Dellelce, Jeff Hergott, Niall Sweeney, Alex Karlsen, Ella Rowley, Ashley Jefferies (corporate finance and securities) and Daniel Lupinacci (banking and financial services).