BUZZ-Australia's Green Technology Metals rises on LOI for up to $69 mln finance

Reuters
2024-12-23
BUZZ-Australia's Green Technology Metals rises on LOI for up to $69 mln finance

** Green Technology Metals GT1.AX soars as much as 20.8% to A$0.064; biggest intraday pct gain since Aug. 20

** Canada-focused multi-asset lithium business gets letter of intent (LOI) from Export Development Canada $(EDC.AU)$

** Says Canadian export credit agency could potentially provide debt funding package of up to C$100 mln ($69.7 mln) to develop the Seymour Lithium Project in Ontario

** Adds LOI complements strong interest from additional global commercial lenders and reinforces Seymour Project's trajectory to become Ontario's first lithium producer

** Anticipates finalising financing arrangements in 2025

** YTD, stock down 81.4%

($1 = 1.4358 Canadian dollars)

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.Kumar@thomsonreuters.com;))

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