09:06 AM EDT, 04/30/2024 (MT Newswires) -- NanoXplore ( NNXPF ) said on Tuesday that it secured a $60 million credit facility with the Royal Bank of Canada ( RY ) that will provide the graphene producer liquidity and flexibility to execute its five-year strategic plan.

The facility comprises a $10 million revolving credit line, up to $45 million in equipment leasing loans and $5 million in term loans, NanoXplore ( NNXPF ) said in a release.

"This credit facility will provide NanoXplore's ( NNXPF ) subsidiaries with additional financial resources to drive long term growth and expansion," NanoXplore ( NNXPF ) Chief Financial Officer Pedro Azevedo said.

NanoXplore ( NNXPF ) said it is also finalizing up to $80 million in non-dilutive government incentives that will cover most of the remaining portion of its capital needs for its five-year strategic plan.

The company's share price gained 0.4% yesterday to $2.62.