Parkland Corporation has secured up to $210 million in financing from the Canada Infrastructure Bank (CIB) to support the expansion of its electric vehicle (EV) charging network. The financing will aid the growth of Parkland's existing EV charging network, primarily located in British Columbia, which has a high proportion of EV drivers in North America. The company aims to have 50 charging locations operational by early 2024. The financing facility provided by CIB includes attractive terms, with principal repayments tied to charger utilization. Parkland plans to explore additional capital sources for potential third-party sites beyond its network. The EV charging market is evolving rapidly, and Parkland aims to capitalize on consumer behavior and market demand while adhering to its strategic objectives. However, forward-looking statements caution that actual results may differ due to various factors, including economic conditions, competitive actions, regulatory changes, and other uncertainties. Parkland does not undertake to publicly update or revise forward-looking statements except as required by securities law.
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