Green Technology Metals (ASX: GT1), a Canadian-focused multi-asset lithium business, has announced it has received an extended Letter of Interest (LOI) from Export Development Canada (EDC) for potential financing support of up to C$100 million for the development of the Seymour Lithium Project. The initial LOI was announced on December 23, 2024. The extension signifies EDC’s ongoing commitment to the project and provides additional time for the completion of due diligence and internal approvals.
The extended LOI will remain valid through December 2026, giving both GT1 and EDC the necessary time to finalise the agreement. GT1 believes this support from EDC enhances the Seymour Project’s attractiveness to other export credit agencies and commercial lenders, facilitating a diversified financing structure. The company has been in formal discussions with EDC since September 2024, regularly updating the agency with financial modelling and project information.
GT1’s Managing Director, Cameron Henry, expressed enthusiasm for the continued support from EDC. He noted that this is an optimal time to develop a project in Canada, with improving lithium market conditions reinforcing the strategic rationale for advancing Seymour. He also highlighted the Canadian and Ontario governments’ policy changes and funding initiatives designed to accelerate critical mineral projects.
These initiatives include Ontario’s “One Project, One Process Bill, (1P1P)” introduced in 2025, aimed at consolidating permitting submissions and cutting approval times for new mining projects by 50%. Federal Funding Initiatives include a C$2 Billion Critical Minerals Sovereign Fund, and a First and Last Mile Fund to provide support through 2029–30, focusing on upstream and midstream supply chain development.
