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Saturday, March 05, 2022 3:11:30 PM
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Quote;
In the interim, Smith is looking to secure a $25 million cornerstone investor to get the project out of the starting blocks.
“There are lots of front-end things that we can do. If we bring that anchor equity investor in with that amount of money, we can start to get the infrastructure together for the project, like getting gas lines and electrical lines out to the project.
“Not only will we make a start on construction, but we can also send a message to the debt markets that we have an anchor equity investor, which is a powerful momentum builder for the debt providers. Debt providers want to make sure that the equity is going to be there, and the equity guys want to make sure that the debt is going to be there,” said Smith.
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