Nano One Materials Corp has bolstered its financial position through a deal to sell and lease back a building in Quebec.
Some C$15.7 million was raised via the sale of its Candiac building and surrounding property, the lithium-ion battery cathode active materials specialist said on Monday.
A lease agreement for an initial term of 15 years had also been signed under the deal, leaving estimated net proceeds at C$13.7 million.
Nano One noted the deal would “significantly strengthen” its financial position and support long-term operational stability.
“This transaction reinforces our financial flexibility and ensures that we remain well-positioned to advance our commercialization efforts,” chief financial officer Carlo Valente said.
“It enables us to leverage over C$40 million in government funding while expanding our operations in alignment with our strategic vision.”
Nano One added it retained a right for first offer should the building’s new owner opt to sell the property in future.