Star Metro - Padcom and General Holdings Sign Term Sheet for USD 55 Million Structured Investment

The transaction was originated by North Mountain Capital, which introduced the opportunity to General Holdings.

Under the term sheet, General Holdings proposes to invest US$18.25 million as a Senior Secured Loan (Tranche 1) and US$36.75 million as Series A Preferred Equity (Tranche 2), with full warrant coverage. The proceeds will be used to expand Padcom's production capacity to 250,000 tonnes per annum of potash and related products, with an intended public listing targeted within 24 months of closing.

While this term sheet does not constitute a binding commitment, it represents the parties' shared intention to close the transaction according to the milestones and schedule set out in the document, subject to satisfactory due diligence, regulatory approvals, and execution of definitive agreements.

Brian Clifford, Chief Executive Officer of Padcom, stated:

"This proposed partnership with General Holdings marks a key step in Padcom's mission to establish Manitoba as a leader in responsible potash production. The structure allows us to scale efficiently while aligning long-term interests as we prepare for the next phase of growth and eventual IPO."

Paul Scribner, Chief Executive Officer of General Holdings Limited, commented:

"Padcom represents the type of transformational industrial opportunity that aligns with General Holdings' cross-border investment strategy. We look forward to working closely with Brian and his team to complete diligence, finalize documentation, and bring this transaction to closing."

Justin Inniss, Chief Operating Officer of General Holdings, added:

"The proposed structure reflects both discipline and ambition - supporting Padcom's operational ramp-up while creating a clear pathway to institutional capital markets. We're excited about the value creation potential this partnership can unlock."

Subject to completion of all required steps, the senior loan closing is targeted for January 2026, followed by equity closing in mid-2026. The transaction remains governed by the laws of the Dubai International Financial Centre and the Province of Manitoba, as applicable.

About Padcom

Padcom (Potash and Agri Development Corporation of Manitoba Ltd.) is a Manitoba-based resource development company focused on the sustainable extraction and commercialization of potash and related agricultural minerals. Its operations aim to deliver efficient, low-carbon production serving both North American and international markets.

About General Holdings Limited

General Holdings Limited is a diversified investment and origination platform headquartered in the Dubai International Financial Centre (DIFC). Through its eight verticals - spanning commodities, fintech, SME consolidation, and real assets - General Holdings partners with exceptional management teams to deliver scalable, institutional-grade investments across strategic sectors.

About North Mountain Capital

North Mountain Capital is a boutique investment advisory firm specializing in originating and structuring cross-border transactions across the natural resources, infrastructure, and industrial sectors. The firm focuses on connecting operationally strong companies with strategic investors through tailored financing solutions that balance growth objectives with disciplined capital structuring.

Media Contact:

Kelly Delp
Chief Communications Officer
Raven Resources Corp
Email: [email protected]
Phone: +1 214 865 9083

SOURCE: General Holdings Limited

View the original press release on ACCESS Newswire

S.Morin--SMC