Global Remediation Technology Ltd. (“GRT” or the “Company”) has secured growth funding through the issuance of Class A Preferred Shares and senior secured debt. The proceeds have been used by the Company to finance the acquisition of equipment, including a mobile soil and water remediation plant and barges, and fund working capital as it expands it soil management operations.
GRT was formed in April 2019 as a spin out from ALLTERRA Construction, and the company secured its seed funding in June of that same year. Since then, the company has developed a pipeline of over $30M in projects under contract or LOI, advanced its plan to site and build a fixed plant capable of rehabilitating over one million tonnes of contaminated soils annually, and expanded its leadership team to bring the skills required to manage the growth of the company.
In March 2020, GRT entered into a senior secured credit facility with Cortland Credit, an alternative asset management firm in Toronto, ON. Under the facility, the Company has access to capital supported by the company’s equipment and receivables.
Fort Capital Securities Ltd. acted placement agent with respect to the issuance of common shares which have since been exchanges for Class A Preferred Shares, Series 1, and as advisor with respect to sourcing and negotiation of the credit facilty with Cortland Credit.
ABOUT GLOBAL REMEDIATION TECHNOLOGY
Based in Victoria, GRT is a customer-focused water and soil remediation innovator. The Company’s robust, flexible, and scalable solutions produce clean water and soil, divert waste from landfills and save customers money. For more information, visit www.globalremediation.co.