Algoma Steel Secures $500 Million Government Financing to Support EAF Transition

Reuters12-01

<a href="https://laohu8.com/S/ASTL">Algoma Steel</a> Secures $500 Million Government Financing to Support EAF Transition

Algoma Steel Group Inc. has completed a C$500 million financing transaction with the Governments of Canada and Ontario. The deal includes $400 million from the Canada Enterprise Emergency Funding Corporation (CEEFC), a subsidiary of Canada Development Investment Corporation, and $100 million from the Province of Ontario. This financing, which features both secured and unsecured tranches, aims to strengthen Algoma's balance sheet as the company advances its transition to electric arc furnace $(EAF)$ steelmaking. In connection with the deal, Algoma has issued 6.77 million common share purchase warrants to CEEFC and Ontario. The funds are expected to provide immediate liquidity and support the company's operational and transformation milestones.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Algoma Steel Group Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-25-303186), on December 01, 2025, and is solely responsible for the information contained therein.

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