Critical Elements Announces Strategic Partner HELM AG to Provide Up to $4.5M Funding for Feasibility Study

Critical Elements (TSXV:CRE,OTCQX:CRECF,FWB:F12) announced it has entered into an agreement for a credit facility of up to $4.5 million arranged by its strategic partner HELM AG. The Credit Facility will allow the Corporation to fund its feasibility study on the Rose lithium-tantalum project.
As quoted in the press release:

Feasibility Study
HELM has agreed to collaborate with, assist and provide technical support to Critical Elements for the preparation and completion of the feasibility study. HELM has further agreed to provide logistical and sales support to Critical Elements in relation to the distribution and sale of all future mineral products to be produced on the Project (the “Mine”).
Project Financing
As consideration for HELM’s covenants and undertakings under the Agreement, Critical Elements has agreed to grant HELM an option to acquire an ownership interest of up to 25% in the project by committing to pay for a portion of the mine construction costs (the “Financing Option”). HELM may exercise the Financing Option within a period of 60 days after having received written notice from Critical Elements to the effect that it has arranged financing for mine construction. The Financing Option is subject to certain conditions, including the execution of the Take or pay off-take Agreement.

Critical Elements President and CEO, Sébastien Lavallée, stated:

This financing is a significant step forward for Critical, as we are now fully funded to complete our bankable feasibility study. With this funding committed and the identity of our strategic partner now disclosed, now confirms beyond all doubts the capacity and the quality of its partner.

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