Cobalt Blue Holdings (ASX:COB) said the terms of promissory notes held by American Rare Earths (ASX:ARR) were amended, effective Jan. 7, according to a Tuesday Australian bourse filing.

The amended notes provide for the repayment of principal and interest in two tranches, with the first tranche of AU$2 million, originally $3 million, on Jan. 17, and a second tranche of $1 million on Oct. 1, the filing said.

An interest of AU$180,000 is due and payable on Jan. 17, in line with the original terms, according to the filing.

Interest is payable on the second tranche at 6% per annum.

Cobalt Blue issued 335,882 fully-paid ordinary shares to American Rare Earths on Jan. 7 as consideration for the amendments, per the filing.