Post by
LeoBelgicus on Nov 30, 2020 1:11pm
Strong support from EDC
" On November 7, 2018 the Company announced that it has received a non-binding term sheet from Export Development Canada (“EDC”), a financial Crown corporation, for a term loan for up to $72 million (the “Senior Credit Facility”) to finance up to 50% of a base oil re-refinery in Alberta (the “Project”). On April 1, 2019, EDC extendedits non-binding term sheet to expire on March 31, 2020. On March 31, 2020, the Company subsequently secured an extension of the EDC term sheet until March 31, 2021. "
EDC is a great partner for financing projects in Canada and even more abroad.
Leo
Comment by
PosNeg1 on Nov 30, 2020 3:25pm
EDC support in place TWO YEARS AGO. And NADA on the financing since. 4 months to go.