Northstar Executes Binding Credit Agreement for $8.75 Million in Debt With Business Development Bank of Canada (BDC)
Northstar Executes Binding Credit Agreement for $8.75 Million in Debt With Business Development Bank of Canada (BDC)
VANCOUVER, BC, July 7, 2023 /CNW/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to announce that, following its June 15, 2023 announcement of a non-binding term sheet, it has entered into a binding definitive credit agreement (the "Credit Agreement") with the Business Development Bank of Canada ("BDC") for project financing of up to C$8.75 million in non-revolving senior secured debt (the "BDC Financing"). The Company intends to use the proceeds from the BDC Financing for the development and construction of its planned asphalt shingle reprocessing facility in Calgary, Alberta (the "Empower Calgary Facility").
溫哥華，BC，2023年7月7日/cnw/-Northstar Clean Technologies Inc.(多倫多證券交易所股票代碼：ROOF)(場外交易代碼：Rooof)(以下簡稱“Northstar”或“公司”)欣然宣佈，繼2023年6月15日宣佈一份不具約束力的條款說明書後，該公司已與加拿大商業發展銀行(BDC)就高達875萬加元的非迴圈優先擔保債務(以下簡稱“BDC融資”)的專案融資達成了具有約束力的最終信貸協定(“信貸協定”)。*本公司擬將BDC融資所得款項用於發展及建設其位於艾伯塔省卡爾加裡的計劃中的瀝青瓦後處理設施(“Empower Calgary設施”)。
The following is a summary of the material terms of the Credit Agreement.
以下是信用證協定的主要條款摘要。
BDC will provide a senior secured loan of up to C$8.75 million;
15-year repayment period, with a 2-year interest only payment period;
Fixed 5-year interest rate of 8.35% payable monthly.
BDC將提供高達875萬加元的優先擔保貸款；
還款期15年，只付息2年；
固定利率為5年期，每月支付8.35%。
The BDC Financing is subject to a one-time fee of C$43,750, which has already been paid by Northstar, and an annual fee of C$1,000.
北極星已經支付了43,750加元的一次性融資費用和1,000加元的年費。
Mr. Aidan Mills, President & CEO and Director of Northstar, stated "Over the last year, we have engaged with numerous potential investors in our effort to finance the construction of the Empower Calgary Facility and I am happy to say that we have now secured our ideal long-term financing partner in BDC. The terms of this debt financing are very favourable – 15-year term, low interest rate, re-financing potential, and minimal closing and due diligence fees. We believe this funding and securing BDC as a partner going forward adds significant value to Northstar and our shareholders. Combined with the Emissions Reduction Alberta government grant of C$7.1 million, the BDC Financing of C$8.75 million provides nearly C$16 million in non-dilutive funding for the Empower Calgary Facility."
北極星首席執行官兼董事首席執行官總裁·米爾斯先生表示：“在過去的一年裡，我們與眾多潛在投資者進行了接觸，為Empower卡爾加裡設施的建設提供資金，我很高興地說，我們現在已經在BDC找到了我們理想的長期融資合作夥伴。這筆債務融資的條款非常優惠--15年期、低利率、再融資潛力，以及最低的成交和盡職調查費用。我們相信，這筆資金並確保BDC作為未來的合作夥伴，為北極星和我們的股東增加了巨大的價值。加上艾伯塔省710萬加元的減排政府贈款，BDC提供的875萬加元融資為賦權卡爾加裡基金提供了近1600萬加元的非稀釋資金。“
In connection with the BDC Financing, the Company will pay a finder's fee to Independent Traders Group Inc. ("ITG") of C$87,500 in cash and will issue up to C$87,500 in common share purchase warrants (each, a "Warrant") exercisable at $0.35 per common share of the Company for a period of 24 months or up to 36 months subject to TSX Venture Exchange policies and approval. The BDC Financing and payment of the finder's fee remain subject to regulatory and exchange approvals to the extent required.
在BDC融資方面，公司將向獨立貿易商集團有限公司(“ITG”)支付87,500加元的現金，並將發行最多87,500加元的普通股認購權證(每股為“認股權證”)，可按公司普通股每股0.35美元的價格行使，為期24個月或最長36個月，取決於多倫多證券交易所創業板政策和批准。BDC的融資和發現者費用的支付仍需得到監管機構和交易所的批准，但仍需達到所需的程度。
About Northstar
關於北極星
Northstar Clean Technologies Inc. is a Canadian-based clean technology company focused on the sustainable recovery and reprocessing of asphalt shingles. Northstar has developed a proprietary design process for taking discarded asphalt shingles, otherwise destined for already over-crowded landfills, and extracting the liquid asphalt for use in new hot mix asphalt, shingle manufacturing and asphalt flat roof systems, and aggregate and fiber for use in construction products and other industrial applications. Focused on the circular economy, Northstar plans to reprocess used or defective asphalt shingle waste back into its three primary components for reuse/resale at its first commercial scale up facility in Calgary, Alberta. As an emerging innovator in sustainable processing, Northstar's mission is to be the leader in the recovery and reprocessing of asphalt shingles in North America, extracting the recovered components from asphalt shingles that would otherwise be sent to landfill.
北極星清潔技術公司是一家總部位於加拿大的清潔技術公司，專注於瀝青瓦片的可持續回收和再加工。Northstar已經開發了一種專有設計工藝，用於回收廢棄的瀝青瓦片，否則將被用於已經過於擁擠的垃圾填埋場，並提取液體瀝青，用於新的熱拌瀝青、瓦片製造和瀝青平臺系統，以及用於建築產品和其他工業應用的集料和纖維。專注於迴圈經濟，Northstar計劃將使用過或有缺陷的瀝青瓦廢料重新處理成三個主要組成部分，以便在其位於艾伯塔省卡爾加裡的第一個商業規模擴大的設施中重複使用/轉售。作為可持續加工領域的新興創新者，北極星的使命是成為北美瀝青瓦片回收和再加工領域的領導者，從瀝青瓦片中提取回收的成分，否則這些成分將被送往垃圾填埋場。
On Behalf of the Board of Directors,
我謹代表董事會：
Aidan Mills
President & CEO, Director
艾丹·米爾斯
董事首席執行官總裁
譯文內容由第三人軟體翻譯。