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ADF GROUP INC. ANNOUNCES PROPOSED FINANCING FROM INVESTISSEMENT QUÉBEC
TERREBONNE, QC, July 2, 2026 /CNW/ - (All amounts are in Canadian dollars unless otherwise indicated.)ADF GROUP INC. ("ADF" or the "Corporation") (Stock
About this update from Adf Group Inc.
TERREBONNE, QC, July 2, 2026 /CNW/ - (All amounts are in Canadian dollars unless otherwise indicated.)ADF GROUP INC. ("ADF" or the "Corporation") (Stock symbol:TSX: DRX), a North American leader in the fabrication of steel superstructures announced today its intention to enter into an agreement with Investissement Québec ("IQ") for a loan of up to $10,000,000 to finance capital expenditures related to the expansion project of the site of its subsidiary Groupe LAR Inc. ("Groupe LAR") in Métabetchouan-Lac-à-la-Croix, Saguenay-Lac-Saint-Jean (the "Métabetchouan Project").The Métabetchouan Project, valued at $40,000,000, will include the transformation of the current plant, the construction of an adjacent extension and the acquisition of state-of-the-art equipment, and is expected to create 82 jobs in the Saguenay-Lac-Saint-Jean region. The Métabetchouan Project will be carried out in parallel with the project to modernize ADF's facilities in Terrebonne (the "Terrebonne Project" and with the Métabetchouan Project, the "Projects"), which represents an investment of $10,000,000 and aims in particular to adapt a fabrication bay dedicated to structures intended for the Quebec hydroelectric market.The Corporation has also entered into an agreement for loans granted under the ESSOR program ("ESSOR"), governed by IQ on behalf of the Government of Quebec, in the amount of $4,000,000, interest-free, for the Métabetchouan Project, and $1,000,000, bearing interest at a fixed rate of 4.1%, for the Terrebonne Project.This financing, which remain contingent upon the conclusion of agreements between the parties, is in addition to the contribution agreement signed on May 26, 2026, with the Government of Canada through the Strategic Response Fund, under which the Government of Canada committed a contribution of up to $12,500,000 to the Corporation, including a non-repayable portion of $6,250,000 and a repayable interest-free portion of $6,250,000. The refundable portion will be payable in eight (8) equal annual installments beginning February 1, 2029. Government disbursements are subject to the terms and conditions of the agreement and will be made as the Projects progress and eligible claims are submitted.The Corporation is actively pursuing its efforts to finalize the financing package necessary to carry out the Projects and intends to explore all avenues of...