Formation Metals Mandates BNP Paribas to Arrange Idaho Cobalt Project Debt

Formation Metals Inc. (TSX:FCO) reports that it has mandated BNP Paribas Securities Corp. with the arrangement of debt to the Idaho Cobalt project. 

Based on an indicative term sheet negotiated between BNP Paribas and Formation through its financial advisor, Auramet Trading, LLC (“Auramet”), the Facility may take the form of an amortizing construction / term loan or Letter of Credit supporting the issuance of tax exempt industrial bonds. 

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