ASX-listed Green Technology Metals 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 its Seymour lithium project, in Canada, extending the validity of the previously announced LOI through December 2026.

The company said the extended LOI, originally announced on December 23, 2024, provides additional time for EDC to complete its due diligence and internal approval processes. Green Technology Metals stated that the LOI reaffirms EDC’s continued interest in partnering with the company and anticipates co-lending alongside other export credit agencies and or commercial lenders.

Green Technology Metals MD Cameron Henry said the extension reflected ongoing engagement between the parties and allowed time to complete the necessary processes for a transaction of this scale.

“We’re very pleased to receive this extended LOI from EDC, which demonstrates their continued interest in the Seymour project. The extension provides both parties with the time needed to complete their respective due diligence and approvals for a transaction of this significance,” he said.

Henry added that he believed it was an optimal time to develop a project in Canada, with improving lithium market conditions reinforcing the strategic rationale for advancing Seymour.

“The current market environment positions us well to progress the project, and we anticipate 2026 will be a significant year for the company as we continue to achieve key milestones,” he said.

Henry noted the continued momentum from the Canadian and Ontario governments, with policy changes and funding initiatives designed to accelerate critical mineral projects. He noted the government’s readiness to support early-stage critical mineral development reinforces confidence in the jurisdiction where we are building the Seymour project.

“We look forward to continuing our work with EDC and making 2026 a transformative year for the Seymour project,” Henry said.

EDC is a self-sustaining financial Crown corporation wholly-owned by the government of Canada and serves as the country’s official export credit agency.

Through its Structured and Project Finance group, EDC has completed more than 540 transactions across the mining, energy, infrastructure and sustainable technologies sectors, representing more than C$41-billion in total value.

In 2024, EDC facilitated C$8.9-billion in mining-related business and supported more than 250 Canadian companies. Green Technology Metals said this activity highlights EDC’s expanding role in Canada’s critical minerals strategy and its willingness to take strategic risk in the sector.

The company added that EDC’s established co-lending relationships with international export credit agencies and commercial lenders could support a diversified financing structure for the Seymour project.

The company also pointed to recent policy and funding initiatives by the Canadian federal government and the province of Ontario aimed at accelerating critical mineral development. These measures include efforts to reduce permitting timelines, streamline approvals and remove duplication in regulatory processes that have historically delayed mining projects.

Ontario introduced the One Project One Process (1P1P) Bill in 2025, which is intended to consolidate permitting submissions and reduce approval timelines for new mining projects by 50%, enabling projects to move to construction more quickly.

At the federal level, Green Technology Metals noted the establishment of a C$2-billion Critical Minerals Sovereign Fund in Canada’s 2025 federal budget.

The fund is intended to provide strategic financial support through equity investments, loan guarantees and offtake agreements, with operations scheduled to commence in the 2026/27 financial year.

The company also referenced the First and Last Mile Fund, which provides C$372-million over four years starting in 2026/27 and incorporates the existing Critical Minerals Infrastructure Fund, with total support of up to C$1.5-billion planned through 2029/30 to support upstream and midstream supply chain development.

Green Technology Metals stated that these combined policy reforms and funding instruments indicate a shift from planning to implementation and are intended to support the efficient advancement of critical mineral projects, including Seymour.

The company also acknowledged its indigenous partners, stating that it appreciates the opportunity to operate within the traditional territory and remains committed to recognising and respecting indigenous heritage.

Green Technology Metals said it is committed to building and maintaining respectful relationships with indigenous peoples based on mutual trust, respect, reciprocity and collaboration in the spirit of reconciliation.