The Ontario Critical Minerals Innovation Fund (CMIF) is designed for Canadian private companies that collaborate with private businesses and public academic or research institutions, non-profit organizations, or associations. To be eligible for this fund, applicants must meet several criteria:
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Applicant Type: The primary applicant should be a private company. This company must be involved in a collaboration with either a private business, a public academic or research institution, a non-profit organization, or an association. It is required that collaborations involving two or more entities are led by one entity, with funding provided by the other.
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Project Location and Focus: The project must be conducted in Ontario. It should focus on researching, developing, and/or commercializing innovative technologies, techniques, processes, or solutions in the critical minerals sector. Key priorities for projects include the supply chain for batteries, mining and exploration at depth, mineral recovery, and support for the critical minerals sector through innovative projects.
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Funding Restrictions: The project should not receive funding from any other government program in Ontario. This ensures that the funding is specifically dedicated to innovative projects within the critical minerals sector without overlapping with other government financial supports
An ASX (Australian Securities Exchange) listed company can be eligible to receive funding from the Ontario Critical Minerals Innovation Fund (CMIF) if it meets the specific criteria set for the program. However, there are key requirements that need to be considered:
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Canadian Entity Requirement: The primary requirement is that the applicant must be a Canadian private company. If the ASX listed company has a Canadian subsidiary or a registered entity in Canada, it could potentially apply for the fund, assuming all other criteria are met.
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Collaboration Requirement: The Canadian entity must be in collaboration with either a private business, a public academic or research institution, a non-profit organization, or an association. This collaborative aspect is a crucial part of the eligibility criteria.
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Project Location: The project for which funding is sought must take place in Ontario. This is a strict geographical requirement for the fund.
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Innovative Project Focus: The project should focus on developing innovative technologies, techniques, processes, or solutions in the critical minerals sector, adhering to the specific areas of interest outlined by the fund.
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No Overlapping Government Funding: The project should not receive funding from any other government program in Ontario.
Green Technology Metals Limited (GT1), listed on the ASX, has a significant presence in Canada, specifically in Ontario, where it focuses on lithium exploration and development. The company has announced the opening of a new office in Toronto, Canada, which will serve as the Canadian headquarters for its processing and engineering teams. This office is centrally located in proximity to the financial district of Toronto, indicating a substantial operational presence in the region.
Given this information, GT1 has a strong Canadian presence, which is a crucial factor for eligibility for the Ontario Critical Minerals Innovation Fund (CMIF)