First Tidal Acquisition Corp T.AAA

RE:Funding Progress

[Fertiman]

Penny... Will you be tweeting this LMAO!!

Fertiman wrote:

The core lending group consisting of the largest Development Financing

Institutions (DFIs) and EXIM-banks continued working with Allana

throughout 2014 in anticipation of the optimization results
 

 New DFIs based in Africa have expressed their interest in funding the

project
 

 Several large European and US-based commercial banks engaged with

Allana to join the existing lender group
 

 Term sheets with these banks are under discussion
 

 The debt package to consist of DFI tranche and commercial tranche, most

likely to come in at the same time
 

 Allana is in discussions with royalty financing groups to fund the remaining

portion of financing requirements (term sheets are being negotiated)
 

 Target timeline for completion of debt commitments is mid-2015, with

potential to start initial construction activity in advance of debt closing