[SMM News] LibertyStream Secures Up to $95M Financing Framework for US Lithium Carbonate Projects

The LibertyStream, targeting status as one of North America's first commercial producers of lithium carbonate from oilfield brine, has signed a non-binding term sheet with Endurance Finance Partners as arranger for a proposed financing framework of up to $95 million.

The framework includes a delayed-draw senior secured construction credit facility to fund construction of Freedom 1 and Freedom 2, plus a future-site financing framework under which Endurance could provide additional financing for future LibertyStream sites, evaluated on a site-by-site basis. The facility would be drawn against certified construction milestones, carry 12.25% annual interest, and mature five years after execution of definitive agreements. Terms also include fees, minimum-return protections, and warrants for up to 10% of the initial $45 million facility for Freedom 1 and Freedom 2, exercisable for seven years, with final warrant terms to be set in definitive agreements.

Funding remains subject to due diligence, credit approvals, definitive agreements, an investment commitment from LibertyStream, project agreements, and regulatory approvals.

Freedom 1 is LibertyStream's first commercial-scale direct lithium extraction plant, planned to produce 1,000 t/y of battery-grade lithium carbonate in Texas new capacity that would add to emerging North American brine-based lithium carbonate supply.