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This is a positive development. My understanding is that much of the funding secured in 2024 (e.g., DoD grant) is reimbursable based on what is actually spent for the upgrading project at Candiac 1 to 1,000tpa. This latest financing move allows Nano to get the cash float necessary to complete the physical work which can then be reimbursed by the grants once the receipts are submitted for approvals.
Ultimately once the physical work is completed then Candiac 1 production volumes of 1,000tpa can be sold to generate a steady stream of cash flows for the company.
This appears to be a thoughtful way to finance the automation scope for Candiac 1 and demonstrates that Nano is fighting hard for us shareholders.
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