Chilean Cobalt Corp. Announces Receipt of New USD $375 Million Letter of Interest from US EXIM Bank

About this update from Chilean Cobalt Corp.

BERWYN, PA / ACCESS Newswire / August 17, 2026 / Chilean Cobalt Corp. (OTCQB:COBA) ("Chilean Cobalt" or the "Company") is pleased to announce that it has received a new non-binding Letter of Interest ("LOI") from the Export-Import Bank of the United States ("EXIM") for a potential debt funding package of up to $375 million, with a tenor of up to 15 years, to support the Company's proposed capital funding plan for the La Cobaltera / El Cofre project in northern Chile. The New LOI follows the expiration of the Company's previously issued $317.4 million LOI. Following the one-time extension of the original LOI, Chilean Cobalt submitted a new application for an increased potential financing amount based on the Company's updated development plan for the La Cobaltera / El Cofre project. EXIM has now notified the Company that is prepared to consider financing of up to $375 million of the project's costs. The proposed financing would be provided under EXIM's China and Transformational Exports Program ("CTEP") and may be eligible for special consideration under Section 402 of EXIM's 2019 reauthorization (P.L. 116-94). Section 402 directs EXIM to take steps to mitigate the competitive impact of export support provided by the People's Republic of China ("PRC") and other covered countries and/or to advance the comparative leadership of the United States in Transformational Export Areas. Given the PRC's dominant position in the global cobalt and copper markets, critical minerals essential to lithium-ion batteries, advanced superalloys, and aerospace / defense, the potential EXIM financing supports Chilean Cobalt's strategy to establish a secure, Americas-based cobalt and copper supply chain while supporting the Company's objective of developing downstream critical minerals processing capacity in the United States. The potential financing also complements Chilean Cobalt's ongoing efforts to establish strategic partnerships and U.S. offtake arrangements for the Company's anticipated cobalt, copper, and potentially other critical minerals production. These relationships are expected to be important to the Company's broader financing strategy and to the development of a secure supply chain connecting mineral production in Chile with processing and end-use markets in the United States. In parallel, Chilean Cobalt continues to evaluate potential financing under EXIM's Suppl...

View stock analysis, news, and events for Chilean Cobalt Corp.