Brazil Potash Corp. (AMEX:GRO) revealed on Monday that it has appointed BTIG, LLC as its primary financial advisor.
The company has appointed the advisor to secure a project-level capital investment to finance the construction of the project.
In particular, BTIG plans to attract new strategic partners to invest at the project level, which will allow Brazil Potash to secure significant construction financing with minimal shareholder dilution.
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Matt Simpson, CEO of Brazil Potash, added: “BTIG’s mandate covers international markets, complementing our ongoing discussions with select strategic parties in Brazil, China and other select regions where we have existing relationships, ensuring we pursue all available financing avenues efficiently.”
“BTIG’s deep experience in the chemicals, minerals and natural resources sectors and extensive global network make them the ideal partner to help us secure the capital necessary to bring this world-class potash project into production.”
In particular, the company continues to explore other ways to optimize its capital structure.
The forms include similar opt-out opportunities for discrete project components, such as the recent partnership with Fictor Energia for power transmission infrastructure.
Additionally, last week, Brazil Potash revealed the enactment of its third and final commercial purchase agreement between Potássio do Brasil Ltda. and Kimia Soluciones Ltda.
Price action: GRO shares are trading down 3.23% at $2.40 premarket at last check on Monday.
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This article EXCLUSIVE: Brazil Potash Appoints Advisor to Unlock Global Funding Opportunities originally appeared on Benzinga.com
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