SFIO receives letter of interest from US EXIM Bank for up to $28.75-M in debt financing

Rhea-AI Summary

Starfleet Innotech, Inc. (OTC: SFIO) has received a letter of interest from the Export-Import Bank of the United States (EXIM) for potential financing of up to $28.75 million for its real estate projects in Batangas, Philippines. This financing aims to support a medical and retirement resort and an eco-friendly tech village. The financing would have a maximum repayment term of seven years. SFIO is also exploring partnerships with local banks to secure additional non-dilutive debt financing. This aligns with SFIO's strategy to uplist from the OTC Markets to NASDAQ by 2024.

Positive

• Received letter of interest from EXIM for up to $28.75 million in financing.
• Projects include a medical and retirement resort and a tech village, enhancing growth potential.
• Financing from EXIM is structured with a maximum repayment term of seven years.
• Plans to uplist from US OTC Markets to NASDAQ by 2024 suggests ambitious growth strategy.

Negative

• None.

Potential financing from EXIM would go towards SFIO’s real estate development projects in Batangas, Philippines.

NEW YORK, Jan. 28, 2022 (GLOBE NEWSWIRE) -- Starfleet Innotech, Inc. (OTC: SFIO) has received a letter of interest from the Export-Import Bank of the United States (EXIM), in support of SFIO’s real estate development projects in the Philippines.

In their letter, EXIM, the official export credit agency of the United States, expressed interest in extending financing of up to $28.75 million, towards SFIO’s medical and retirement resort in Montemaria, Batangas, just south of Metro Manila in the Philippines. Potential debt financing from EXIM would be eligible for a maximum repayment term of seven years.

This follows a series of partnerships and exploratory talks SFIO has spearheaded towards non-dilutive debt financing for its various projects. SFIO is currently engaged with a number of local banks in the Philippines to secure similar financing arrangements for their real estate developments, including a bayside, eco-friendly tech village in Batangas.

These projects play a crucial role in the global asset management company's strategy of collaborative innovation towards building better communities. Profits from these high-yield projects are intended to be reinvested into future growth, helping carry the group towards their plans to uplist from the US OTC Markets to the NASDAQ by 2024.

For media enquiries, please contact:
Craymond Yeong, PR & Marketing Specialist
Epiphany Café
Phone: (+64) 21 0833 2966
Email: info@sfio.co.nz

About Starfleet Innotech, Inc.
Starfleet Innotech, Inc. (OTC: SFIO) is an asset management company focused on innovation through disruptive collaborations across its three key industries: Food and Beverage (F&B), Real Estate, and Technology. With a strong presence across New Zealand, Australia, and the Philippines, as well as a roadmap for further global expansion, SFIO makes strategic investments in high-growth businesses, building synergies across its diverse portfolio to provide maximum shareholder value. Guided by tradition, driven by innovation, and enabled by collaboration—SFIO is on a hyper-growth path to build a thriving business ecosystem, with plans to uplist onto a major stock exchange in the near future.

 

FAQ

What financing has SFIO received from EXIM?

SFIO has received a letter of interest from EXIM for potential financing of up to $28.75 million.

How will SFIO use the financing from EXIM?

The financing will support SFIO's real estate development projects, including a medical and retirement resort and an eco-friendly tech village in Batangas, Philippines.

What is SFIO's plan for uplisting?

SFIO aims to uplist from the US OTC Markets to NASDAQ by 2024.

What is the repayment term for EXIM's financing to SFIO?

The financing from EXIM would have a maximum repayment term of seven years.