12:02 PM EDT, 04/30/2024 (MT Newswires) -- NanoXplore ( NNXPF ) on Tuesday said it secured a C$60 million credit facility with the Royal Bank of Canada that will provide the graphene producer liquidity and flexibility to execute its five-year strategic plan.

The facility comprises a C$10 million revolving credit line, up to C$45 million in equipment leasing loans and C$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 C$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 shares were last seen down C$0.10 to C$2.52 on the Toronto Stock Exchange.

Price: 2.52, Change: -0.10, Percent Change: -3.82