Green Technology Metals Secures Export Development Canada LOI for Seymour Lithium Project Financing

By Kevin Vincent

“This milestone is a significant step forward in our financing strategy for the Seymour Lithium Project,” said Cameron Henry, Managing Director. “EDC’s support not only validates the robustness of the project but also highlights its importance to Canada’s critical minerals supply chain. We look forward to advancing this partnership as we progress toward becoming Ontario’s first lithium producer.”

The Seymour Lithium Project is located in northwestern Ontario, Canada, approximately 230 kilometers north of Thunder Bay and 20 kilometers east of Armstrong. It is situated within a region known for its rich mineral resources and is easily accessible by road and rail infrastructure, making it a strategic location for lithium development.

Green Technology Metals Limited (GT1), a Canadian-focused lithium exploration and development company, has received a Letter of Interest (LOI) from Export Development Canada (EDC) for potential project financing of up to C$100 million for the Seymour Lithium Project in Ontario.

Significance of the LOI

The LOI marks the culmination of formal discussions with EDC that began in September 2024. These discussions included the submission of preliminary financial models and key project data. The LOI underscores the strategic importance of the Seymour Lithium Project in Canada’s critical minerals sector and bolsters GT1’s Ontario development strategy.

Potential Financing Terms

The proposed financing from EDC, a self-sustaining Crown corporation, is subject to due diligence, internal approvals, and compliance with EDC’s Environmental and Social Risk Management Framework. EDC has a strong track record in financing renewable energy, mining, and sustainable technology projects, having completed over 540 transactions in related sectors.

The funding package offers several benefits, including:

• Non-dilutive financing: Preserving shareholder value.

• Flexible sourcing: Access to low-cost lending tailored to project needs.

• Strategic alignment: Reinforcing Seymour’s role in supporting Canada’s critical minerals strategy.

Path to Final Investment Decision

The Seymour Lithium Project remains on track for a Final Investment Decision (FID) by 2025. GT1 continues to engage with global commercial lenders to complement the EDC package, creating a diversified financing structure. These efforts are proceeding in parallel with Indigenous consultation, permitting approvals, and other project development activities.

Positioning Ontario as a Lithium Leader

GT1’s Seymour Lithium Project aims to become Ontario’s first lithium producer, contributing to the growing demand for critical minerals driven by the global clean energy transition. The project’s strategic significance is further bolstered by its alignment with Canada’s push for domestic critical mineral production.

About Export Development Canada

EDC is a financial Crown corporation owned by the Government of Canada, specializing in financing Canadian exporters and fostering international trade. Its commitment to projects like Seymour reflects Canada’s broader ambition to lead in renewable energy and critical mineral production.

Looking Ahead

With EDC’s strong support and ongoing interest from global financial institutions, GT1 is well-positioned to advance the Seymour Lithium Project. The company anticipates finalizing its financing arrangements by 2025, paving the way for Seymour to play a pivotal role in Ontario’s critical minerals sector.

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