Here’s the translation into American English:
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The collaboration between Padcom and General Holdings was formalized with a preliminary agreement establishing a structured investment of $55 million aimed at expanding potash production in Manitoba, Canada. Padcom, a company focused on the extraction and marketing of potash and agricultural minerals, along with General Holdings, a well-known investment platform based in Dubai, seeks to advance towards a potential public offering in the near future.
The agreement, while non-binding, is divided into two parts: General Holdings commits to providing $18.25 million through a secured senior loan and $36.75 million in the form of preferred equity, all backed by full guarantees. This capital will allow Padcom to increase its production capacity to 250,000 tons per year of potash and related products, with the expectation of a public offering within 24 months following the closing of the deal.
Brian Clifford, CEO of Padcom, emphasized that this partnership is a significant milestone in the mission to position Manitoba as a leader in responsible potash production. For his part, Paul Scribner, CEO of General Holdings, mentioned that this partnership aligns perfectly with his company’s industrial investment strategy, and expressed enthusiasm about working alongside the Padcom team to execute the agreement.
The operation is subject to various conditions, including due diligence and necessary regulatory approvals. The closing of the senior loan is expected in January 2026, while the capital investment is anticipated to be completed by mid-year. This transaction will be governed by the laws of the Dubai International Financial Centre and the province of Manitoba.
Padcom operates in a sector that not only seeks to maximize efficiency but also commits to sustainable and low-carbon practices. Meanwhile, General Holdings is diversifying its investment approach across various sectors, including commodities and fintech. The involvement of North Mountain Capital in this transaction as the opportunity originator reaffirms the commitment to connecting strong companies with investors willing to finance their growth.
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Referrer: MiMub in Spanish
