ASCENDANT ANNOUNCES POTENTIAL EXPORT CREDIT AGENCY SUPPORT FOR PROJECT FINANCE AT ITS LAGOA SALGADA PROJECT IN PORTUGAL
Support available subject to standard project finance terms and successful due diligence
- Support available subject to standard project finance terms and successful due diligence
TORONTO, July 5, 2023 /PRNewswire/ - Ascendant Resources Inc. Toronto - (TSX: ASND) (OTCQB: ASDRF) (FRA: 2D9) ("Ascendant" or the "Company") is pleased to announce that it has received and accepted an Expression of Interest ("EOI") from UK Export Finance ("UKEF") to support a potential export credit facility for the Company's Lagoa Salgada Project ("Lagoa Salgada" or the "Project") located in Portugal. - UKEF is a department of the UK Government and is the UK's official Export Credit Agency ("ECA").
- The company is very excited with the level of support and interest from the ECA market which highlights the potential for success of Lagoa Salgada.
- He added," We view ECA supported limited recourse Project Finance with each project undertaken on a ring-fenced, stand-alone basis, as an attractive form of long-term debt capital."