PMET Resources Receives Letter of Interest from Société Générale for Shaakichiuwaanaan Project Financing

PMET Resources Inc. has announced that it has received a non-binding Letter of Interest (LOI) from Société Générale, a prominent international corporate and investment bank, regarding potential project financing for the Phase 1 development of its 100%-owned Shaakichiuwaanaan Project in Quebec, Canada. This development was revealed by the company on June 3, 2026.

Under the LOI, Société Générale has expressed interest in serving as a Mandated Lead Arranger for a potential debt financing package. This step is seen as crucial in advancing PMET's long-term financing strategy and is part of the company's efforts to assemble a high-quality syndicate of internationally recognized mining project finance lenders and Export Credit Agencies. The company has already received support from Export Development Canada (EDC), KfW IPEX-Bank, and another major Canadian financial institution.

The LOI is designed to facilitate lender due diligence, including technical, environmental, and commercial reviews, as PMET progresses toward the completion of its updated Feasibility Study, expected in the fourth quarter of 2026. CFO Natacha Garoute commented on the significance of Société Générale's involvement, noting their expertise in global mining project finance and experience in financing Quebec-based mining assets.

PMET emphasized that the LOI is preliminary, non-binding, and conditional. It does not constitute a credit approval or definitive financing arrangement. Future financing will depend on the satisfactory completion of comprehensive due diligence, internal approvals, agreement on commercial terms, and final documentation. The company continues to advance its financing discussions alongside its permitting, engineering optimization, product marketing, and strategic commercial engagements.

PMET Resources Inc. is focused on the exploration and development of critical minerals, with its Shaakichiuwaanaan Property being strategically located within a well-connected area in Quebec. The company recently released a positive lithium-only Feasibility Study for the CV5 Pegmatite, identifying substantial mineral reserves and enhancing the project's potential as a significant contributor to North America's critical mineral supply.