First Phosphate secures up to US$170M in financing from Export-Import Bank of the United States
–News Direct–
First Phosphate Corp CEO John Passalacqua joined Steve Darling from Proactive to share significant news regarding the company's agreement with the Export-Import Bank of the United States (EXIM) for potential financing.
Passalacqua announced that First Phosphate Corp has received a Letter of Interest (LOI) from EXIM to provide financing of up to US$170 million. This financing is intended to support the procurement of US goods and services by First Phosphate in Canada and is eligible for a maximum repayment term of 10 years. The LOI is valid until October 14, 2024.
He further explained that EXIM has a mandate to mitigate the competitive impact of export support provided by countries like the People's Republic of China for opportunities like the one presented b...