Sow Good Secures $20M Facility to Advance Tanzania Graphite Acquisition
$20 million non-convertible private placement credit facility with Sagol Advisors funds Sow Good’s proposed Tanzania Nachu Graphite acquisition and its shift into critical minerals and battery anode development. Draws of at least $500,000 are allowed over 24 months at 10% per annum or WSJ Prime +3.25%, with early repayment permitted.
1. Facility Details
Sow Good has executed a term sheet for a $20 million non-convertible private placement credit facility with Sagol Advisors. The facility allows draws in minimum tranches of $500,000 over a 24-month availability period, bears interest at the greater of 10% per annum or WSJ Prime +3.25%, and can be repaid early without penalty.
2. Strategic Funding Use
Proceeds will provide non-dilutive working capital to support day-to-day operations and advance strategic initiatives, most notably the proposed acquisition of the Nachu Graphite Project in Tanzania. Interest is payable monthly on drawn amounts only, with funds drawn as needed to align with project milestones.
3. Acquisition Context
The proposed Nachu Graphite acquisition, subject to definitive documentation and customary closing conditions, would position Sow Good as a critical minerals and battery anode developer. The facility’s closing remains contingent on final credit agreements and will be disclosed in a Form 8-K upon execution.