Canadian Government Provides C$100 Million Financing LOI to Green Technology Metals in Support of Electric Royalties' Flagship Lithium Royalty Asset in Ontario
Electric Royalties (TSXV:ELEC, OTCQB:ELECF) announced that Green Technology Metals, operator of the Seymour Lake Lithium Project in Ontario, has received a C$100 million letter of interest for financing from Export Development Canada (EDC). Electric Royalties owns a 1.5% Net Smelter Royalty on the project.
The potential EDC financing, subject to due diligence and environmental review, could help accelerate the project's development toward becoming Ontario's first lithium producer. Green Technology Metals expects to finalize the financing structure in 2025 alongside a feasibility study currently in progress, with additional interest from global commercial lenders.
Electric Royalties (TSXV:ELEC, OTCQB:ELECF) ha annunciato che Green Technology Metals, operatore del Seymour Lake Lithium Project in Ontario, ha ricevuto una lettera di interesse di 100 milioni di dollari canadesi per il finanziamento da Export Development Canada (EDC). Electric Royalties possiede una royalty netta del 1,5% sul progetto.
Il finanziamento potenziale di EDC, soggetto a due diligence e revisione ambientale, potrebbe contribuire ad accelerare lo sviluppo del progetto verso la realizzazione del primo produttore di litio dell'Ontario. Green Technology Metals prevede di finalizzare la struttura di finanziamento nel 2025 insieme a uno studio di fattibilità attualmente in corso, con ulteriore interesse da parte di prestatari commerciali globali.
Electric Royalties (TSXV:ELEC, OTCQB:ELECF) anunció que Green Technology Metals, operador del Seymour Lake Lithium Project en Ontario, ha recibido una carta de interés de 100 millones de dólares canadienses para financiamiento de Export Development Canada (EDC). Electric Royalties posee una regalía neta del 1.5% sobre el proyecto.
El financiamiento potencial de EDC, sujeto a la debida diligencia y revisión ambiental, podría ayudar a acelerar el desarrollo del proyecto hacia convertirse en el primer productor de litio de Ontario. Green Technology Metals espera finalizar la estructura de financiamiento en 2025 junto con un estudio de viabilidad que actualmente está en curso, con interés adicional de prestamistas comerciales globales.
Electric Royalties (TSXV:ELEC, OTCQB:ELECF)는 Green Technology Metals가 온타리오의 Seymour Lake 리튬 프로젝트에 대해 Export Development Canada(EDC)로부터 1억 캐나다 달러의 관심 서신을 받았다고 발표했습니다. Electric Royalties는 이 프로젝트에 대한 1.5%의 순 제련 로열티를 보유하고 있습니다.
EDC의 잠재적인 자금 지원은 적절한 실사 및 환경 검토를 거쳐 해당 프로젝트의 개발을 가속화하여 온타리오의 첫 번째 리튬 생산 자가 되는 데 도움을 줄 수 있습니다. Green Technology Metals는 현재 진행 중인 타당성 조사와 함께 2025년에 자금 지원 구조를 최종 확정할 계획이며, 글로벌 상업 대출자들의 추가적인 관심이 있습니다.
Electric Royalties (TSXV:ELEC, OTCQB:ELECF) a annoncé que Green Technology Metals, opérateur du Seymour Lake Lithium Project en Ontario, a reçu une lettre d'intérêt de 100 millions de dollars canadiens pour un financement de la part d'Export Development Canada (EDC). Electric Royalties détient une redevance nette de 1,5 % sur le projet.
Le financement potentiel d'EDC, soumis à une analyse de diligence raisonnable et à un examen environnemental, pourrait aider à accélérer le développement du projet pour faire d'Ontario le premier producteur de lithium. Green Technology Metals prévoit de finaliser la structure de financement en 2025, en parallèle d'une étude de faisabilité actuellement en cours, avec un intérêt supplémentaire de la part de prêteurs commerciaux mondiaux.
Electric Royalties (TSXV:ELEC, OTCQB:ELECF) gab bekannt, dass Green Technology Metals, Betreiber des Seymour Lake Lithium Project in Ontario, von Export Development Canada (EDC) ein Interessenbrief über 100 Millionen kanadische Dollar für die Finanzierung erhalten hat. Electric Royalties besitzt eine 1,5% Nettogießroyalty für das Projekt.
Die potenzielle EDC-Finanzierung, die einer due diligence und Umweltprüfung unterliegt, könnte dazu beitragen, die Entwicklung des Projekts zu beschleunigen, damit es Ontario's erster Lithiumproduzent wird. Green Technology Metals plant, die Finanzierungsstruktur im Jahr 2025 zusammen mit einer derzeit laufenden Machbarkeitsstudie abzuschließen, während zusätzliches Interesse von globalen Geschäftskreditgebern besteht.
- Potential C$100 million government-backed financing support for project development
- Project positioned to become Ontario's first lithium producer
- Additional financing interest from global commercial lenders
- Financing subject to due diligence and environmental review completion
- Final financing structure not expected until 2025
- Feasibility study still pending completion
VANCOUVER, BC / ACCESSWIRE / December 24, 2024 / Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to provide an update on the Seymour Lake Lithium Project ("Seymour Lake" or "the Project") in Ontario, Canada, on which it owns a
On December 22, 2024, Green Technology Metals Limited (ASX: GT1) ("Green Technology Metals"), the operator of Seymour Lake, announced that it has received a letter of interest ("LOI") from Export Development Canada ("EDC") in support of EDC's interest to finance the development of the Project and potentially provide a direct lending debt funding package of up to C
Brendan Yurik, CEO of Electric Royalties, commented: "The letter of interest from Export Development Canada for up to C
EDC is a financial Crown corporation owned by the Government of Canada, specializing 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 subject to the completion of a due diligence process and typical project finance conditions. This includes an environmental and social review aligned with EDC's Environmental and Social Risk Management Framework.
According to Green Technology Metals, the LOI complements strong interest from additional global commercial lenders, forming a foundation for a diversified financing structure which it anticipates finalizing in 2025, along with a feasibility study that is already underway.
Electric Royalties is relying on the information provided by Green Technology Metals.
About Electric Royalties Ltd.
Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications.
Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase significantly over the next several years and with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to fuel the electric revolution.
Electric Royalties has a growing portfolio of 41 royalties in lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper across the world. The Company is focused predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk, which offers investors exposure to the clean energy transition via the underlying commodities required to rebuild the global infrastructure over the next several decades toward a decarbonized global economy.
For further information, please contact:
Brendan Yurik
CEO, Electric Royalties Ltd.
Phone: (604) 364‐3540
Email: Brendan.yurik@electricroyalties.com
https://www.electricroyalties.com/
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor any other regulatory body or securities exchange platform, accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information and Other Company Information
This news release includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company within the meaning of Canadian securities laws. This news release includes information regarding other companies and projects owned by such other companies in which the Company holds a royalty interest, based on previously disclosed public information disclosed by those companies and the Company is not responsible for the accuracy of that information, and that all information provided herein is subject to this Cautionary Statement Regarding Forward-Looking Information and Other Company Information. Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company's future outlook and anticipated events and may include statements regarding the financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities of the Company and the projects in which it holds royalty interests.
While management considers these assumptions to be reasonable, based on information available, they may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or these projects to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the renewable energy industry; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the mining industry generally, recent market volatility, income tax and regulatory matters; the ability of the Company or the owners of these projects to implement their business strategies including expansion plans; competition; currency and interest rate fluctuations, and the other risks.
The reader is referred to the Company's most recent filings on SEDAR+ as well as other information filed with the OTC Markets for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at sedarplus.ca and at otcmarkets.com.
SOURCE: Electric Royalties Ltd.
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FAQ
What is the value of the financing LOI received by Green Technology Metals for the Seymour Lake project?
What percentage royalty does Electric Royalties (ELECF) own in the Seymour Lake Lithium Project?
When is Green Technology Metals expected to finalize the financing structure for Seymour Lake?
What conditions must be met for the EDC financing of Seymour Lake to be approved?