Latest news with #securedloan
National Post
11-08-2025
- Business
- National Post
Largo Announces $6 Million Secured Loan to Support Working Capital
Article content All dollar amounts expressed are in U.S. dollars unless otherwise indicated. TORONTO — Largo Inc. (' Largo ' or the ' Company ') (TSX: LGO) (NASDAQ: LGO) today announces that it has entered into a secured loan by way of a promissory note with ARG International AG for a principal amount of $6 million (CAD$8.25 million) (the ' Note '). The Note is expected to provide near-term working capital support as the Company transitions from turnaround execution to steady-state operations amidst continued pressure from low vanadium prices. Article content The Note is secured against the Company's equity interest in Largo Physical Vanadium Corp. (TSX.V:VAND, OTCQX: VANAF), in which the Company holds a 65.7% majority stake. The Note has a term of six months, bears interest at an annualized rate of 15%, and includes a 1% arrangement fee. Proceeds from the Note are intended to strengthen the Company's liquidity position and provide flexibility to continue execution on its plan to improve operations during a sustained weakness in vanadium prices. Article content Daniel Tellechea, Interim CEO of Largo stated: 'This loan strengthens our working capital position at a time when our operations have stabilized but market pricing conditions remain challenging. We've made meaningful progress on production and cost efficiencies, and this facility is expected to provide some flexibility to manage through current price pressures while continuing to focus on meeting our set targets for the year.' An early warning report will be electronically filed on and made available under the Company's respective profiles at and A copy of the early warning report can also be obtained by contacting the Company's Investor Relations contact at the information provided below. Article content Largo is a globally recognized supplier of high-quality vanadium and ilmenite products, sourced from its world-class Maracás Menchen Mine in Brazil. As one of the world's largest primary vanadium producers, Largo produces critical materials that empower global industries, including steel, aerospace, defense, chemical, and energy storage sectors. The Company is committed to operational excellence and sustainability, leveraging its vertical integration to ensure reliable supply and quality for its customers. Article content Largo is also strategically invested in the long-duration energy storage sector through its 50% ownership of Storion Energy, a joint venture with Stryten Energy focused on scalable domestic electrolyte production for utility-scale vanadium flow battery long-duration energy storage solutions in the U.S. Article content Largo's common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange under the symbol 'LGO'. For more information on the Company, please visit Article content This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable Canadian and United States securities legislation. Forward‐looking information in this press release includes, but is not limited to, statements with respect to the timing and amount of estimated future production and sales; the future price of commodities; Article content the effect of tariffs or trade restrictions on the Company's sales and other business; Article content costs of future activities and operations; the expected use of proceeds of the Facility and their expected impact on the Company's liquidity position and ability to improve its operations; the Company's transition from turnaround execution to steady-state operations; the Company's ability to meet its set targets for the year; and the extent of capital and operating expenditures. Article content The following are some of the assumptions upon which forward-looking information is based: that general business and economic conditions will not change in a material adverse manner; demand for, and stable prices of V2O5 and other vanadium products, ilmenite and titanium dioxide pigment; receipt of regulatory and governmental approvals, permits and renewals in a timely manner; that the Company will not experience any material accident, labour dispute or failure of plant or equipment or other material disruption in the Company's operations at the Maracás Menchen Mine or relating to Largo Clean Energy, especially in respect of the installation and commissioning of the EGPE project; the availability of financing for operations and development; the availability of funding for future capital expenditures; the ability to replace current funding on terms satisfactory to the Company; the ability to mitigate the impact of heavy rainfall; the reliability of production, including, without limitation, access to massive ore, the Company's ability to procure equipment, services and operating supplies in sufficient quantities and on a timely basis; that the estimates of the resources and reserves at the Maracás Menchen Mine are within reasonable bounds of accuracy (including with respect to size, grade and recovery and the operational and price assumptions on which such estimates are based); the accuracy of the Company's mine plan at the Maracás Menchen Mine; that the Company's current plans for ilmenite can be achieved; the Company's ability to protect and develop its technology; the Company's ability to maintain its IP; the competitiveness of the Company's product in an evolving market; the Company's ability to attract and retain skilled personnel and directors; the ability of management to execute strategic goals; Article content that the Company will enter into agreements for the sales of vanadium, ilmenite and TiO2 products on favourable terms and for the sale of substantially all of its annual production capacity; and receipt of regulatory and governmental approvals, permits and renewals in a timely manner. Article content Forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved', although not all forward-looking statements include those words or phrases. In addition, any statements that refer to expectations, intentions, projections, guidance, potential or other characterizations of future events or circumstances contain forward-looking information. Forward-looking statements are not historical facts nor assurances of future performance but instead represent management's expectations, estimates and projections regarding future events or circumstances. Forward-looking statements are based on our opinions, estimates and assumptions that we considered appropriate and reasonable as of the date such information is stated, subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Largo to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Largo and in its public documents filed on and available on from time to time. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although management of Largo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Largo does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Largo's annual and interim MD&A which also apply. Article content Article content Article content Article content Contacts Article content For further information, please contact: Article content
Bloomberg
18-07-2025
- Business
- Bloomberg
Fiber-Network Firm Zayo Nears Debt-Extension Deal With Creditors
Zayo Group Holdings Inc. is nearing a tentative agreement with creditors that would extend maturities on some of the fiber-network operator's multibillion-dollar debt pile, according to people familiar with the situation. The framework would entail lenders of a nearly $5 billion secured loan due 2027 being partially paid and unsecured creditors receiving a coupon bump in return for agreeing to extend due dates, said the people, who asked not to be identified discussing a private matter.
Yahoo
11-06-2025
- Business
- Yahoo
Telescope Innovations' Directors Establish Private Debt Instrument to Accelerate Development of Self-Driving Labs
VANCOUVER, British Columbia, June 10, 2025 (GLOBE NEWSWIRE) -- Telescope Innovations Corp. ('Telescope Innovations', 'Telescope', or the 'Company') (CSE: TELI) (OTCQB: TELIF) (FSE:4JU) is a leader in intelligent automation platforms for accelerating chemical process development. The Company announces that it has entered into a secured loan facility with a group of lenders which includes Jason Hein and Henry Dubina, pursuant to which the Company has received a loan (the 'Loan') in the amount of CAD $1,200,000 to support operational activities. The Loan bears interest at a rate of 6.95% per annum and matures on June 1, 2026. Each of Messrs. Hein and Dubina are directors of the Company and are related parties of the Company pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ('MI 61-101'). As a result, the portion of the Loan provided by Messrs. Hein and Dubina, which totals CAD $600,000, constitutes a 'related party transaction'. The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to Sections 5.5(a) and 5.7(1)(a) respectively, as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Loan exceeds 25.0% of the Company's market capitalization. 'This private credit instrument demonstrates the commitment and continued enthusiasm of our founder, board and executive management to accelerate the development of the Company's Self Driving Laboratory ('SDL') platforms. We are on the verge of introducing our break-through technology platform to address this completely underserved, rapidly growing market opportunity,' commented Henry Dubina, CEO and Chairman of the Board of Directors of Telescope. Dr. Jason Hein, Founder and CTO, said, 'Our SDL pairs robotics with real-time chemistry analytics and machine-learning-guided experimental loops. The system sets up reactions, measures kinetics on the fly, and decides on the next experiment without researcher slowdown — exactly the automation, data connectivity, and AI foundations that are still lacking as global pharma companies race to modernize their labs. We are accelerating our SDL development efforts precisely when most big-pharma labs are budgeting multi-million dollar upgrades. By acting now, we are positioning Telescope at the forefront of this industry shift.' The Company paused the previously announced non-brokered private placement equity financing (February 4th, 2025) due to tariff uncertainty and public market volatility. Currently, private credit offered the optimum flexibility to the Company than traditional commercial credit due to better terms, repayment schedules, covenants, and collateral requirements. As conditions improve, the Company may seek future equity financing as and when the Company needs. About Telescope Innovations Telescope Innovations is a chemical technology company developing scalable manufacturing processes and tools for the pharmaceutical and chemical industry. The Company builds and deploys new enabling technologies including flexible robotic platforms and artificial intelligence software that improves experimental throughput, efficiency, and data quality. Our aim is to bring modern chemical technology solutions to meet the most serious challenges in health and sustainability. On behalf of the Board, Telescope Innovations Corp. Henry Dubina, Chief Executive Officer Forward-Looking Information Forward-looking information is based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, and uncertainties that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law. CONTACT: Henry Dubina, Chief Executive Officer E: hdubina@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
12-05-2025
- Business
- Forbes
Secured vs. Unsecured Small Business Loans Explained
Small business loan application on the wooden surface and documents. Few decisions shape a small business's financial future more than choosing the right type of loan. Whether you're launching, expanding, or navigating a short-term crunch, knowing when to use a secured versus an unsecured loan can make all the difference. At its core, a secured loan is backed by collateral—assets like equipment, inventory, or property the lender can claim if the loan isn't repaid. An unsecured loan, by contrast, doesn't require specific collateral but usually demands strong credit and a proven financial track record. Both can serve your business well, but each carries distinct advantages and risks. Secured loans are most commonly offered by banks and government-backed programs like the SBA. While the SBA does not require collateral for loans under $50,000, for larger loans—particularly those over $500,000—the agency expects lenders to secure the loan to the maximum extent possible using available assets. According to the SBA's official lending guidelines, lenders are instructed to take all available collateral until the loan is fully secured. For businesses with valuable assets, secured loans offer access to larger loan amounts and more favorable terms. But for those in asset-light sectors, like consulting or technology, offering collateral may not be possible. And the downside risk is clear: failure to repay could result in the loss of critical business or personal assets. Unsecured loans offer a faster, often simpler option—especially from online lenders or fintech platforms. You won't need to pledge specific assets, but lenders will look closely at your credit score, revenue, and time in business. These loans can be ideal for short-term needs like marketing, payroll, or inventory. And they're growing in popularity. According to the Intuit QuickBooks Entrepreneurship in 2024 Report, 83% of small businesses reported relying on credit cards to manage their finances, with 59% using them as an emergency or temporary funding source. Still, unsecured loans come at a cost. Interest rates are higher, loan amounts smaller, and approvals harder to secure without a 680+ credit score and consistent cash flow. The Federal Reserve's 2024 Small Business Credit Survey found that only 36% of businesses received the full amount they sought—and applicants for unsecured financing faced more denials than those with collateral. The right loan often comes down to timing and purpose. If you're investing in infrastructure—like expanding a facility or buying expensive equipment—a secured loan may offer better terms and stability. If you're covering a short-term gap, the flexibility of an unsecured loan could be a lifeline. A 2023 QuickBooks survey found that nearly 70% of small businesses struggle with cash flow, often turning to unsecured lines of credit or cards for fast relief. These tools are valuable—when used wisely. Choosing the right loan is about more than eligibility—it's about alignment. Ask yourself: Secured and unsecured loans both play essential roles in the capital landscape. The key is matching the loan structure to your business's financial reality and risk tolerance. As someone who has worked alongside entrepreneurs in every corner of the country, I've seen the impact of making the right funding decision—and the fallout from getting it wrong. When you're borrowing for your business, don't just ask, 'What can I get?' Ask, 'What makes the most sense for where I'm headed?'
