GREEN IMPACT PARTNERS INC. ANNOUNCES THE CLOSURE OF ITS CORPORATE CREDIT FACILITY, THE SIGNING OF ANOTHER RNG PROJECT LOCATED IN IOWA AND A LEADERSHIP UPDATE
VANCOUVER, BC, January 12, 2022 / CNW / –
Business credit facility
Green Impact Partners Inc. (“GIP“or the”Society“) is pleased to announce the closing of a $ 30 million business credit facility (the “Credit facility“) with a Canadian Schedule I bank. The credit facility consists of a two-year committed revolving loan to meet day-to-day operating needs, with interest payments up to The credit facility is guaranteed by certain assets of the Company The credit facility bears interest at prime rate + 0.75% at prime rate + 1.75% depending on certain restrictive covenants.
With the credit facility now in place, coupled with the previously announced close of non-recourse project-level debt financing for the GreenGas Colorado RNG project and GIP’s internally generated cash flow forecast for 2022, financial commitments to short term plans of the Company are fully funded. GIP continues to be well positioned to develop and execute other RNG projects planned in its portfolio.
Iowa RNG Project
The Company is also pleased to announce the signing of a letter of intent for a partnership in a dairy RNG project located at Iowa (the “Iowa RNG ProjectThe Iowa RNG Project is expected to include three locations and be similar in size, scale and economy to the GreenGas Colorado RNG Project and is expected to generate approximately 1,000 GJ per day of RNG. GIP is currently finalizing the binding agreements with construction expected to start later this year.
In addition, Julia ciccaglione joined GIP as Vice-President, Regulation and Environment. Julia previously founded Pristine Power Inc. and has held management and advisory positions in the energy industry including Pristine Power Inc. and Veresen Inc. Julia brings a long track record of success in licensing and building development of nearly 1.5 GW in projects across Canada and has over 20 years of experience in strategic planning, risk management, regulation, environmental management and health and safety.
“GIP’s strategic goal is to create a sustainable and inclusive world through the development of the world’s cleanest energy. We are delighted to have Julia’s talent, expertise and leadership as we develop and advance our RNG portfolio. Our most recent developments in our RNG pipeline clearly demonstrate to our investors that we are determined and inflexible in our short and long term drive to achieve our corporate mission and our bottom line. It is through these strategic partnership opportunities that we believe we are well positioned to effect positive change through our market leadership in the development and operation of RNG now and for the foreseeable future, ”said Jesse douglas, CEO and Director.
About Green Impact Partners
GIP is a clean energy company listed on the TSX Venture Exchange. GIP is focused on driving the transition to a green and sustainable economy through a strategy focused on RNG. GIP seeks to be influential partners in a green and more sustainable future by optimizing cutting-edge technology to reuse by-products into clean energy via RNG and other value-added substances.
This press release contains forward-looking statements and / or forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. When used in this release, words such as “would”, “will”, “anticipate”, believe “,” explore “and similar expressions, with respect to GIP or its direction, are intended to identify such forward-looking statements. These forward-looking statements reflect GIP’s current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause GIP’s actual results, performance or achievements to differ materially from expected future results, performance or achievements that may be expressed or implied by such forward-looking statements. These forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to: the impact of general economic conditions in Canada and United States, including the ongoing COVID-19 pandemic; industry conditions, including changes in laws and regulations and / or the adoption of new environmental laws and regulations and changes in the way they are interpreted and applied, in Canada and United States; volatility of energy commodity prices; evolution of the demand for clean energy proposed by the GIP; competetion; lack of availability of qualified personnel; obtain the required approvals from regulatory authorities, including Canada and United States; ability to access sufficient capital from internal and external sources; many of which are beyond the control of the GIP. The forward-looking statements included in this press release should not be interpreted as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those implied by such forward-looking statements.
Readers are encouraged to carefully review and consider the risk factors relating to BIPs described in BIP’s statement of deposit dated May 17, 2021, accessible on GIP’s SEDAR sender profile at the address www.sedar.com. The forward-looking statements contained in this press release are made as of the date of this press release, and except as expressly required by law, GIP disclaims any intention, obligation or commitment to publicly release updates or revisions to any statements contained in it. this document, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
GIP’s management has included the above summary of the assumptions and risks associated with forward-looking statements provided in this press release in order to provide shareholders with a more complete perspective on GIP’s current and future operations and such information may not be appropriate to other purposes. GIP’s actual results, performance or achievements could differ materially from those expressed or implied by these forward-looking statements and, therefore, no assurance can be given that any of the events anticipated by the forward-looking statements will or will occur. , or if one of them does, what benefits GIP will derive from it.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.
SOURCE Green Impact Partners
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