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Northstar Announces Receipt of Letter of Interest on Potential Funding for up to Four United States Asphalt Shingle Reprocessing Facilities
Northstar Announces Receipt of Letter of Interest on Potential Funding for up to Four United Stat...
About this update from Northstar Clean Technologies, Inc.
[{"type":"text","content":"\n\n\n\n Northstar Announces Receipt of Letter of Interest on Potential Funding for up to Four United States Asphalt Shingle Reprocessing Facilities\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n June 30, 2025\n \n\n /CNW/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) (\"\n \n Northstar\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that after positive discussions, we received a non-binding Letter of Interest (\"\n \n LOI\n \n \") from Export Development Canada (\"\n \n EDC\n \n \") for EDC to provide potential financial support, subject to the successful completion of its due diligence process, for the Company's first planned shingle reprocessing facility in\n \n the United States\n \n (\"\n \n US Facility#1\n \n \") and subject to a number of conditions and outcomes, potential funding support for an additional three Northstar processing facilities in the United States.\n \n\n\n\n\n\n\n\n\n Similar to the non-revolving secured debt facility outstanding with the Business Development Bank of\n \n Canada\n \n (\"\n \n BDC\n \n \") associated with the Company's Empower Calgary Facility, the LOI represents project financing where the security package, financial covenants and debt servicing requirements are directly attributable to the US Facility#1 itself. The LOI stipulates EDC to maintain a first ranking, or senior secured position, on the underlying assets with the ability to co-lend with other debt providers.  EDC could extend credit up to\n \n C$12.5 million\n \n .  Financial and reporting covenants, guarantees and pricing would apply and will be finalized as part of ongoing discussions.  EDC due diligence will require, among other matters, sufficient comfort on the commercialization of the Empower Calgary Facility, which is nearing commissioning completion, completion support for US Facility#1 involving cost overrun protections, and equity contributions from one or more parties prior to any draws under an EDC debt facility.\n \n\n \"While still early ...