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Message: Jamestown, here we come!

The loan extension is actually for $10mil more.  Looks like $6Mil for Raw materials and $4mil for Jamestown.

Electrovaya Inc. (“Electrovaya” or the “Company”)(NASDAQ:ELVA; TSX:ELVA), a lithium ion battery technology and manufacturing company, today announced that its credit facility has been increased from C$16 million to C$22 million, with uncommitted accordions up to $4MM to increase the facility to C$26 million in the future. This facility will support the Company’s working capital needs in connection with its continued sales and production growth. In addition, it has extended the term to maturity from March 31, 2024 to July 29, 2025.

The uncommitted accordans means the lender has to agree with Electrovaya on how it is spent.  If all the raw materials show up and Jamestown is ready to crank up by end of 3rd Quarter then the 4th Quarter will be a blow out........Of course Jamestown will be in a training mode for new employees so it will be ramping up, slowly at first.  $20mil for Q4 should be easy......

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