St-Georges Eco-Mining (CSE:SX) says its battery recycling subsidiary EVSX has secured a revolving credit facility of up to C$750,000 ($762,400) to support working capital and debt repayments.
The facility provides an initial advance of C$150,000, with four additional advances of up to C$150,000 available as EVSX meets agreed revenue milestones.
EVSX operates a multi-chemistry battery processing line that recovers critical battery metals, including aluminium, steel, and copper. Its facilities are located in Thorold, Ontario, Canada.
As part of the financing, St-Georges will provide a parent guarantee in favour of the lender, while the facility is secured against EVSX’s existing and future assets.
St-Georges Eco-Mining develops new technologies and holds a diversified portfolio of assets and patent-pending intellectual property within multiple subsidiaries.
Write to Jackson Chen at Mining.com.au
Images: St-Georges Eco-Mining
