PMET Resources Receives Letter of Interest from Société Générale for Shaakichiuwaanaan Project Financing
Rhea-AI Summary
PMET Resources (OTCQX: PMETF) received a preliminary, non-binding Letter of Interest from Société Générale for potential Phase 1 project financing of its 100%-owned Shaakichiuwaanaan Project in Quebec.
SG may act as Mandated Lead Arranger, supporting due diligence ahead of an updated Feasibility Study targeted for Q4 2026.
Positive
- Société Générale LOI to act as Mandated Lead Arranger for potential debt financing
- LOI supports strategy to build a syndicate of global mining lenders and Export Credit Agencies
- Financing discussions run in parallel with permitting, engineering optimization and product marketing
Negative
- Letter of Interest is preliminary, non-binding and conditional
- No credit approval or definitive financing commitment has been granted
- Financing depends on full due diligence, internal approvals and final documentation
News Market Reaction – PMETF
In the Jun 3 session, PMETF gained 2.44%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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Under the LOI, SG has expressed interest in participating as a Mandated Lead Arranger for potential debt financing package. The LOI represents another important step in advancing PMET's long-term financing strategy and aligns with PMET's objective to assemble a high-quality syndicate of internationally recognized mining project finance lenders and Export Credit Agencies. This builds on the recently announced support and engagement from EDC, KfW IPEX-Bank and an additional major Canadian financial institution.
The LOI is intended to facilitate lender due diligence, including technical, environmental and commercial reviews, as PMET advances toward completion of its updated Feasibility Study targeted for calendar Q4 2026.
Natacha Garoute, CFO, comments: "Société Générale brings extensive global mining project finance expertise, including meaningful experience financing
The Company cautions that this letter is preliminary, non-binding, and conditional in nature. It does not constitute a credit approval, financing commitment, or definitive financing arrangement. Any future financing remains subject to satisfactory completion of comprehensive due diligence (including a site visit by SG), internal management and credit approvals, agreement on commercial terms, and final documentation. Financing discussions continue to progress in parallel with permitting, engineering optimization, product marketing and ongoing strategic commercial engagement.
About PMET Resources Inc.
PMET Resources Inc. is a pegmatite critical mineral exploration and development company focused on advancing its district-scale
In late 2025, the Company announced a positive lithium-only Feasibility Study on the CV5 Pegmatite for the Shaakichiuwaanaan Property and declared a maiden Mineral Reserve of 84.3 Mt at
The Project hosts a Consolidated Mineral Resource2 totalling 108.0 Mt at
For further information, please contact us at info@pmet.ca or by calling +1 (604) 279-8709, or visit www.pmet.ca. Please also refer to the Company's continuous disclosure filings, available under its profile at www.sedarplus.ca and www.asx.com.au, for available exploration data.
This news release has been approved by
"KEN BRINSDEN"
Kenneth Brinsden, President, CEO, & Managing Director
Qualified/Competent Person
The technical and scientific information in this news release that relates to the Mineral Resource Estimate for the Company's properties is based on, and fairly represents, information compiled by Mr. Darren L. Smith, M.Sc., P.Geo., who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"), and member in good standing with the Ordre des Géologues du Québec (Geologist Permit number 01968), and with the Association of Professional Engineers and Geoscientists of
__________________________________ |
1 See Feasibility Study news release dated October 20, 2025. Probable Mineral Reserve cut-off grade is |
2 The Consolidated MRE (CV5 + CV13 pegmatites), which includes the Rigel and |
Mr. Smith is an Executive and Vice President of Exploration for PMET Resources Inc. and holds common shares, Restricted Share Units (RSUs), Performance Share Units (PSUs), and options in the Company.
The information in this news release that relates to the Mineral Reserve Estimate and Feasibility Study is based on, and fairly represents, information compiled by Mr. Frédéric Mercier-Langevin, Ing. M.Sc., who is a Qualified Person as defined by NI 43-101, and member in good standing with the Ordre des Ingénieurs du
Mr. Mercier-Langevin is the Chief Operating and Development Officer for PMET Resources Inc. and holds common shares, RSUs, PSUs, and options in the Company.
Disclaimer for Forward-Looking Information
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws.
All statements, other than statements of present or historical facts, are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are typically identified by words such as "potential", "advancing", "strategy", "intended", "advances", "targeted", "further", "reinforces", "look forward", "progress", "continue", "development", "completion", "ongoing" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements include, but are not limited to, statements concerning the ongoing financing strategy for the Shaakichiuwaanaan Project, the non-binding Letter of Interest from SG, the support and engagement from EDC, KfW IPEX-Bank and an additional major Canadian financial institution, the completion of the updated Feasibility Study, the progress of lender due diligence and the continuance of building a robust financing syndicate to support the development of Phase I of the Shaakichiuwaanaan Project.
Forward-looking statements are based upon certain assumptions and other important factors that, if untrue, could cause actual results to be materially different from future results expressed or implied by such statements. There can be no assurance that forward-looking statements will prove to be accurate. Key assumptions upon which the Company's forward-looking information is based include, without limitation, the ability to pursue and achieve the ongoing financing strategy for the Shaakichiuwaanaan Project, the possibility of obtaining support from SG, EDC, KfW IPEX-Bank and and an additional major Canadian financial institution, the ability to complete the updated Feasibility Study targeted for calendar Q4 2026, and that exploration and development results continue to support management's current plans for the Property's development.
Forward-looking statements are also subject to risks and uncertainties facing the Company's business, any of which could have a material adverse effect on the Company's business, financial condition, results of operations and growth prospects. Readers should review the detailed risk discussion in the Company's most recent Annual Information Form filed on SEDAR+, for a fuller understanding of the risks and uncertainties that affect the Company's business and operations.
Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate. If any of the risks or uncertainties mentioned above, which are not exhaustive, materialize, actual results may vary materially from those anticipated in the forward-looking statements.
The forward-looking statements contained herein are made only as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Company qualifies all of its forward-looking statements by these cautionary statements.
Competent Person Statement (ASX Listing Rules)
The information in this news release that relates to the Feasibility Study ("FS") for the Shaakichiuwaanaan Project, which was first reported by the Company in a market announcement titled "PMET Resources Delivers Positive CV5 Lithium-Only Feasibility Study for its Large-Scale Shaakichiuwaanaan Project" dated October 20, 2025 (
The Mineral Resource and Mineral Reserve Estimates in this release were first reported by the Company in accordance with ASX Listing Rule 5.8 in market announcements titled "World's Largest Pollucite-Hosted Caesium Pegmatite Deposit" dated July 20, 2025 (
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SOURCE PMET Resources Inc.