Australia's Green Technology Metals rises on LOI for up to $69 mln finance

Green Technology Metals

23/12/2024 01:30

** Green Technology Metals  GT1.AX  soars as much as 20.8%
to A$0.064; biggest intraday pct gain since Aug. 20
    ** Canada-focused multi-asset lithium business gets letter
of intent (LOI) from Export Development Canada (EDC)
    ** Says Canadian export credit agency could potentially
provide debt funding package of up to C$100 mln ($69.7 mln) to
develop the Seymour Lithium Project in Ontario
    ** Adds LOI complements strong interest from additional
global commercial lenders and reinforces Seymour Project's
trajectory to become Ontario's first lithium producer
    ** Anticipates finalising financing arrangements in 2025
    ** YTD, stock down 81.4%

($1 = 1.4358 Canadian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))