Special to the News
Westwater Resources Inc., an energy technology and battery-grade natural graphite development company, recently announced that the closing on a debt financing to fund the remaining construction costs of the Kellyton Graphite Plant is anticipated in January 2025.
During the fourth quarter of 2024, Westwater continued to move through the diligence and loan documentation processes related to the transaction.
This process included hosting lenders at the Kellyton site in Alabama, completing technical due diligence using an independent third-party engineering firm, completing legal and insurance due diligence, and working with counsel to prepare and review loan documents.
“Being the first of its kind facility, the diligence performed regarding our Kellyton Graphite Plant has understandably been substantial,” said Steve Cates, Westwater’s SVP-Finance and CFO. “We anticipate closing the loan in January of 2025.”
Westwater notes the closing of the debt transaction is subject to customary agreement on final terms, final due diligence and loan conditions.
About Westwater Resources Inc.
Westwater Resources Inc., an energy technology company, is focused on developing battery-grade natural graphite. The company’s primary project is the Kellyton Graphite Plant that is under construction in east-central Alabama. In addition, the company’s Coosa Graphite Deposit is the most advanced natural flake graphite deposit in the contiguous United States and located across 41,965 acres (approximately 17,000 hectares) in Coosa County. For more information visit www.westwaterresources.net.
