Highlights: - Jervois Finland has executed a committed Facility Agreement with Mercuria Energy Trading SA to borrow up to US$75 million, secured against its assets including working capital. - Uncommitted additional tranche of US$75 million, which could potentially increase facility to US$150 million. - Facility provides Jervois Finland the flexibility to fund future increases in working capital that would result .
Jervois secures US$100 million bond offering to fund Idaho Cobalt Operations
Highlights: Jervois has successfully priced and closed the books on its subsidiary’s offering of senior secured bonds to raise US$100 million, guaranteed by Jervois Proceeds from the bond issue will be used to fund construction of Jervois’ Idaho Cobalt Operations (“ICO”) in the United States (“U.S.”) and bring it into production Jervois expects to commence commercial concentrate production at ICO from mid-2022 The bond issue is repayable in mid-2026 and preserves commercial flexibility through ICO construction by not obliging Jervois to irrevocably commit cobalt supply early Jervois continues to advance funding support discussions with the U.S. Government
But it’s not every day that we hear of Latin American VCs investing in U.S.-based startups.
Berkeley-based fintech Flourish has raised $1.5 million in a funding round led by Brazilian venture capital firm Canary. Founded by Pedro Moura and Jessica Eting, the startup offers an “engagement and financial wellness” solution for banks, fintechs and credit unions with the goal of helping them engage and retain clients.
Also participating in the round were Xochi Ventures, First Check Ventures, Magma Capital and GV Angels as well as strategic angels including Rodrigo Xavier (former Bank of America CEO in Brazil), Beth Stelluto (formerly of Schwab), Gustavo Lasala (president and CEO of The People Fund) and Brian Requarth (founder of Viva Real).