What is project finance opportunity in emerging markets? Investors tracking MSCI EM Infrastructure note 4.1% quarterly gains, driven by new toll roads and ports structured under project finance terms to attract foreign capital. In accordance with the terms of the Debentures, the Company will issue the Interest Shares at a price of USD$0.12 (approximately C$0.17) per Interest Share based on 90% of the 10-day volume weighted average trading price of the shares of common stock of the Company on the TSX Venture Exchange (the “ TSX-V ”) on the trading days beginning on September 15, 2025 and ending on September 26, 2025 (the “ Pricing Period ”). The challenge that many economies face is how they convert ambitious renewable infrastructure targets into reality. Such projects tend to be capital-intensive and come with long-term risks. Take the example of a large-scale solar farm: the project would likely take one to two years to build and, even after completion, could take many more years to generate the kind of revenue that returns the initial investment. What is project finance role in IPO strategies? Some infrastructure start-ups use project financing pre-IPO to stabilise cash flow forecasts, increasing market debut valuations, evidenced by recent listings outperforming benchmarks by 6%.