CNW Group 3 min readHIGHLIGHTS A Letter of Interest (LOI) has been received from Export Development Canada (EDC), indicating the potential to provide up to C$100 million in project financing for the Seymour Lithium Project GT1 has been in formal discussions with EDC since September, providing preliminary financial modelling and key project information for assessment EDC, a self-sustaining financial Crown corporation owned by the Government of Canada, has many years of experience in financing projects, and its mission is to support Canadian exports and to develop Canadian international trade EDC’s support is contingent upon a comprehensive due diligence process, covering project economic, technical, environmental and social aspects, as well as credit approval The Company anticipates finalising financing arrangements for the Seymour Project in 2025 The LOI complements strong interest from additional global commercial lenders, forming a robust foundation for a diversified financing structure and reinforcing the Seymour Project’s trajectory to become Ontario’s first lithium producer PERTH, Australia, Dec. 22, 2024 /CNW/ — Green Technology Metals Limited (ASX: GT1) (GT1 or the Company), a Canadian-focused multi-asset lithium business, is pleased to announce that is has received a Letter of Interest (“LOI”) from Export Development Canada (“EDC”). The LOI is in support of EDC’s interest to partner with the Company to finance the development of the Seymour Lithium Project and potentially provide a direct lending debt funding package of up to C$100 million. (PRNewsfoto/Green Technology Metals) GT1 has been engaging with EDC since September 2024, providing preliminary financial modelling and key project information for assessment, which has resulted in the issuance of the LOI. The LOI provides GT1 with further confidence in its Ontario strategy and well as highlights the significance of the Seymour Lithium Project and its role in Canada’s critical minerals supply chain. EDC’s support offers increased sourcing flexibility, enhanced access to low-cost direct lending, and is non-dilutive to GT1 shareholders.EDC, a self-sustaining financial Crown corporation owned by the Government of Canada, specialises in providing financing solutions for Canadian exporters and has closed over 540 transactions in the renewables and sustainable technologies, power and utilities, energy, mining, telecommunications and infrastructure sectors.The potential financing by EDC is contingent upon the successful completion of its rigorous due diligence process, securing all necessary internal approvals and meeting typical project finance conditions. This includes an environmental and social review aligned with EDC’s Environmental and Social Risk Management Framework.Following the appointment of GT1’s financial advisor, Endeavour Financial and ongoing funding discussions for the Seymour Project’s development and construction phases, the Company has attracted significant inter
Ven. Dic 27th, 2024
