First Tidal Acquisition Corp T.AAA

Primary Symbol: V.AAA.P

First Tidal Acquisition Corp. is a Canada-based capital pool company. The Company's principal business is the identification and evaluation of a qualifying transaction and once identified or evaluated, to negotiate an acquisition or participation in a business subject to receipt of shareholder approval, if required, and acceptance by regulatory authorities. The Company has not generated revenues from operations.

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First Tidal Acquisition Corp > Afreximbank financing criteria

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Comment by justin_a_lyesseon Mar 14, 2014 8:46am

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Post# 22321972

RE:RE:RE:RE:RE:Afreximbank financing criteria

Here's a link to that African Development Bank loan for the "Dallol Potash Project". 33 million UA (Units of Account) which translates to about $50 million.

https://www.afdb.org/fileadmin/uploads/afdb/Documents/Budget-Documents/The%202014-2016%20Programme%20and%20Budget.pdf

See page 89 of the pdf document.

justin_a_lyesse wrote: Wasn't there another $50 to $55 million being talked about from some African developement bank?

edx wrote:

bob_ten1 wrote: The bashers are trying to make everyone think Allana needs to raise all their equity portion at once. They need to do some more DD on the subject.

Irrespective, if 35% equity funding is what's needed (and that was the expectation that was repeatedly set by management) we are still $140 million short assuming ICL exercises all warrants. So far, equity funding (again assuming all ICL warrants are exercised) represents ~13% of a 35/65 equity/debt split. But what I had always hoped was that we would get enough debt through development financing that we would not need 35% equity and that was just the "worst case" scenario expectation set by management (eg under-promise, over-deliver). I sure hope 13-15% equity is all we end up raising - otherwise it's not going to have been worth the risk to hold this for 5 years (in total).