Northstar Announces Receipt of Letter of Interest on Potential Funding for up to Four United States Asphalt Shingle Reprocessing Facilities
Northstar Clean Technologies (OTCQB: ROOOF) has received a non-binding Letter of Interest (LOI) from Export Development Canada (EDC) for potential financial support of up to C$12.5 million for its first planned U.S. shingle reprocessing facility, with the possibility of funding for three additional facilities.
The LOI outlines project financing terms where EDC would maintain a first-ranking secured position on the underlying assets, with potential co-lending opportunities. The funding is subject to several conditions, including successful due diligence, commercialization of the Empower Calgary Facility, completion support for US Facility#1, and equity contributions from one or more parties.
The company's U.S. expansion aligns with its existing liquid asphalt off-take arrangements with TAMKO Building Products LLC for the first four facilities in the United States. The project financing structure is similar to Northstar's existing non-revolving secured debt facility with the Business Development Bank of Canada for its Empower Calgary Facility.
Northstar Clean Technologies (OTCQB: ROOOF) ha ricevuto una Lettera di Interesse (LOI) non vincolante da Export Development Canada (EDC) per un possibile supporto finanziario fino a 12,5 milioni di dollari canadesi per il suo primo impianto di rielaborazione di tegole negli Stati Uniti, con la possibilità di finanziamenti per altri tre impianti aggiuntivi.
La LOI definisce i termini del finanziamento del progetto, in cui EDC manterrebbe una posizione garantita di primo rango sugli asset sottostanti, con potenziali opportunità di co-prestito. Il finanziamento è soggetto a diverse condizioni, tra cui la due diligence positiva, la commercializzazione dell'Impianto Empower Calgary, il supporto per il completamento dell'Impianto USA#1 e contributi azionari da parte di una o più parti.
L'espansione negli Stati Uniti dell'azienda è in linea con gli accordi esistenti per l'acquisto di asfalto liquido con TAMKO Building Products LLC per i primi quattro impianti negli USA. La struttura del finanziamento del progetto è simile alla linea di credito non revolving garantita esistente di Northstar con la Business Development Bank of Canada per il suo Impianto Empower Calgary.
Northstar Clean Technologies (OTCQB: ROOOF) ha recibido una Carta de Intención (LOI) no vinculante de Export Development Canada (EDC) para un posible apoyo financiero de hasta 12,5 millones de dólares canadienses para su primera planta planificada de reprocesamiento de tejas en EE. UU., con la posibilidad de financiar tres instalaciones adicionales.
La LOI detalla los términos de financiamiento del proyecto, donde EDC mantendría una posición garantizada de primer rango sobre los activos subyacentes, con posibles oportunidades de co-préstamo. El financiamiento está sujeto a varias condiciones, incluyendo la debida diligencia exitosa, la comercialización de la Planta Empower Calgary, el apoyo para la finalización de la Planta EE. UU.#1 y contribuciones de capital de una o más partes.
La expansión de la empresa en EE. UU. está alineada con sus acuerdos existentes de adquisición de asfalto líquido con TAMKO Building Products LLC para las primeras cuatro instalaciones en Estados Unidos. La estructura del financiamiento del proyecto es similar a la línea de deuda garantizada no revolvente existente de Northstar con el Business Development Bank of Canada para su Planta Empower Calgary.
Northstar Clean Technologies (OTCQB: ROOOF)는 Export Development Canada(EDC)로부터 미국에 계획 중인 첫 번째 싱글 재처리 시설에 대해 최대 1,250만 캐나다 달러의 잠재적 금융 지원을 위한 비구속적 관심서(LOI)를 받았으며, 추가로 세 개의 시설에 대한 자금 지원 가능성도 포함되어 있습니다.
LOI에는 EDC가 기초 자산에 대해 우선 담보권을 유지하며 공동 대출 기회가 있을 수 있는 프로젝트 금융 조건이 명시되어 있습니다. 자금 지원은 성공적인 실사, Empower Calgary 시설의 상용화, 미국 시설#1의 완공 지원, 그리고 한 명 이상의 당사자로부터의 자본 출자 등 여러 조건을 충족해야 합니다.
회사의 미국 확장은 TAMKO Building Products LLC와의 기존 액상 아스팔트 구매 계약과 일치하며, 미국 내 첫 네 개 시설에 적용됩니다. 프로젝트 금융 구조는 Empower Calgary 시설을 위한 Northstar의 캐나다 비즈니스 개발 은행과 체결한 기존 비회전 담보 부채 시설과 유사합니다.
Northstar Clean Technologies (OTCQB : ROOOF) a reçu une lettre d'intérêt (LOI) non contraignante d'Export Development Canada (EDC) pour un soutien financier potentiel allant jusqu'à 12,5 millions de dollars canadiens pour sa première installation prévue de retraitement de bardeaux aux États-Unis, avec la possibilité de financer trois installations supplémentaires.
La LOI décrit les conditions de financement du projet selon lesquelles EDC conserverait une position garantie prioritaire sur les actifs sous-jacents, avec des opportunités potentielles de co-prêt. Le financement est soumis à plusieurs conditions, notamment une due diligence réussie, la commercialisation de l'installation Empower Calgary, le soutien à l'achèvement de l'installation américaine n°1 et des apports en capital de la part d'une ou plusieurs parties.
L'expansion américaine de la société s'aligne sur ses accords existants d'achat d'asphalte liquide avec TAMKO Building Products LLC pour les quatre premières installations aux États-Unis. La structure de financement du projet est similaire à la facilité de dette garantie non renouvelable existante de Northstar avec la Business Development Bank of Canada pour son installation Empower Calgary.
Northstar Clean Technologies (OTCQB: ROOOF) hat ein unverbindliches Interessenbekundungsschreiben (LOI) von Export Development Canada (EDC) erhalten, das eine potenzielle finanzielle Unterstützung von bis zu 12,5 Millionen kanadischen Dollar für seine erste geplante US-Anlage zur Wiederverarbeitung von Schindeln vorsieht, mit der Möglichkeit einer Finanzierung für drei weitere Anlagen.
Das LOI skizziert die Finanzierungsbedingungen des Projekts, bei denen EDC eine vorrangige gesicherte Position auf den zugrundeliegenden Vermögenswerten einnehmen würde, mit potenziellen Co-Kreditvergabemöglichkeiten. Die Finanzierung unterliegt mehreren Bedingungen, darunter eine erfolgreiche Due Diligence, die Kommerzialisierung der Empower Calgary-Anlage, Unterstützung beim Abschluss der US-Anlage #1 und Eigenkapitalbeiträge von einer oder mehreren Parteien.
Die US-Erweiterung des Unternehmens steht im Einklang mit den bestehenden Abnahmevereinbarungen für flüssigen Asphalt mit TAMKO Building Products LLC für die ersten vier Anlagen in den USA. Die Struktur der Projektfinanzierung ähnelt der bestehenden nicht revolvierenden gesicherten Kreditfazilität von Northstar mit der Business Development Bank of Canada für die Empower Calgary-Anlage.
- Potential access to up to C$12.5 million in project financing from EDC
- Opportunity for funding support for up to four U.S. facilities
- Existing liquid asphalt off-take agreements with TAMKO Building Products LLC already in place
- Project financing structure could reduce capital costs and enhance shareholder returns
- LOI is non-binding and subject to multiple conditions
- Funding contingent on successful completion of due diligence process
- Requires additional equity contributions before accessing EDC debt facility
- Senior secured position requirement may limit additional funding flexibility
Similar to the non-revolving secured debt facility outstanding with the Business Development Bank of
"While still early days, we are very encouraged by EDC's interest to potentially provide financial support for our growth aspirations in
"The LOI from EDC could ultimately lead to a foundational funding vehicle for Northstar's US capital strategy," commented Greg Phaneuf, VP Corporate Development & CFO. "Northstar's business model lends itself to prudent leverage to materially reduce our project cost of capital, thereby enhancing returns for our shareholders. We look forward to working with EDC to crystallize funding terms as part of our larger growth capital initiatives."
About Northstar
Northstar is a Canadian waste to value technology company focused on the sustainable recovery and reprocessing of asphalt shingles. Northstar developed and owns a proprietary design process for taking discarded asphalt shingles, otherwise destined for already over-crowded landfills, and extracts the liquid asphalt for use in new hot mix asphalt shingle manufacturing and asphalt flat roof systems while also extracting aggregate and fiber for use in construction products and other industrial applications. Focused on the circular economy, Northstar plans to reprocess used or defective asphalt shingle waste back into its three primary components for reuse/resale with its first commercial scale up facility in
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on https://www.otcmarkets.com/.
For further information about Northstar, please visit www.northstarcleantech.com.
On Behalf of the Board of Directors,
Aidan Mills
President & CEO, Director
Cautionary Statement on Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
This press release may contain forward–looking information within the meaning of applicable securities legislation, which forward–looking information reflects the Company's current expectations regarding future events. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "aim", "objective" or similar expressions. Forward-looking statements in this press release include statements concerning: (i) Northstar's plans to reprocess used shingles into their component parts in the inaugural commercial facility in
Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including: risks related to factors beyond the control of the Company; inability of the Company to execute on its business plans; changes in business plans and strategies of the Company; the Company may require additional financing which may not be obtainable or on favourable terms; risk inherent to any capital financing transactions; economic uncertainty; and the risks and uncertainties which are more fully described under the heading "Risk Factors" in the Company's annual and quarterly management's discussion and analysis and other filings with the Canadian securities regulatory authorities under the Company's profile on SEDAR+. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company does not undertake any obligation to update such forward–looking information whether because of new information, future events or otherwise, except as expressly required by applicable law.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, expected or aimed. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.
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SOURCE Northstar Clean Technologies Inc.
FAQ
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