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The Government of Canada committed C$20 million, approximately US$14 million, to Mercer International Inc. (Nasdaq: MERC) for its Peace River pulp mill in northern Alberta, the company disclosed in an 8-K filed Tuesday.
The funding flows through Prairies Economic Development Canada under the Regional Tariff Response Initiative.
The package splits into a C$1 million non-repayable contribution and a C$19 million repayable portion, with repayment scheduled to begin in 2031 subject to the terms of the contribution agreement.
Mercer's subsidiary, Mercer Peace River Pulp Ltd., receives the capital directly.
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