Ecolomondo secures $32.1 million from Export Development Canada

By Louise Sproule, The Review, March 1, 2019

Ecolomondo Environmental (Hawkesbury) Inc., a subsidiary of Ecolomondo Corporation (TSXV: ECM) has announced that it has secured an amount of $32.1 million in project financing  from Export Development Canada (EDC) to build the company’s new, first of its kind turnkey Thermal Decomposition (TDP) facility that will be located on Tessier Street in the Town of Hawkesbury, Ontario.

Ecolomondo expects to achieve financial close by the end of March 2019, subject to satisfactory documentation of the loan agreement and satisfaction of customary representations, warranties, covenants and conditions that are customary to these types of loans. The loan will bear a floating interest rate using a Canadian reference base rate plus a market-based margin and it will mature on March 31, 2031.

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