Nouveau Monde Graphite Inc. (“NMG” or the “Firm”) ( NYSE: NMG , TSX.V: NOU ) publicizes an fairness funding by Canada Progress Fund Inc. (“CGF”) and the Authorities of Québec, by way of its agent Investissement Québec (“IQ”), in NMG for an mixture quantity of US$50 million to proceed advancing its growth towards industrial operations, topic to regulatory approvals. Because the Firm prepares for a remaining funding resolution (“FID”) relating to its Section-2 Matawinie Mine and Bécancour Battery Materials Plant, the funding is particularly set to allow progress on detailed engineering, orders of key long-lead objects and assist to critical-path actions.
Eric Desaulniers, Founder, President, and CEO of NMG, acknowledged: “As a challenge developer, NMG requires credible monetary companions to share dangers and unlock worth on this strategic and geopolitically vital sector. Rounding up 2024 marked by vital progress in our marketing strategy, we’re setting our sights on the remaining milestones to succeed in FID. This funding by the Canada Progress Fund and the Authorities of Québec will allow our group to make tangible developments and place strategic orders in preparation for our challenge execution. We’re dedicated to delivering high-performing and dependable energetic anode supplies to the North American battery and electrical automobile (“EV”) markets, contributing to a neighborhood, sustainable and dependable provide chain.”
Patrick Charbonneau, President and CEO of Canada Progress Fund Funding Administration Inc. (“CGFIM”), mentioned : “Buyers and policymakers alike acknowledge the strategic significance of securing a secure provide of crucial minerals, that are indispensable for important for high-tech industries, from protection to renewable power and batteries. CGF is happy to put money into NMG and appears ahead to supporting the Firm in its journey to create the biggest absolutely built-in pure graphite manufacturing facility in North America.”
The reiterated assist of IQ, an agent of the Authorities of Québec, and the addition of CGF, a C$15-billion unbiased and arm’s size public fund of the Canadian federal authorities, to NMG’s giant shareholders strengthen the Firm’s backing of key institutional traders and supply a good roadmap to challenge financing upon a optimistic FID. CGF has a mandate to capitalize on Canada’s abundance of pure assets and strengthen crucial provide chains to assist the nation’s long-term prosperity. CGFIM, a completely owned subsidiary of PSP Investments, acts because the unbiased and unique funding supervisor of CGF.
Funding into NMG
Every of CGF and IQ has agreed to subscribe for widespread shares within the capital of NMG (the “Frequent Shares”), topic to sure circumstances, for mixture gross proceeds of US$50 million (the “Providing”). Pursuant to the Providing, the Firm will concern 39,682,538 Frequent Shares at a worth of US$1.26 per Frequent Share.
For every Frequent Share so subscribed, the Firm will concern one share buy warrant (the “Warrants”) to every of CGF and IQ. The Warrant will entitle the holder thereof to amass one Frequent Share, from FID to the date that’s 5 years from the closing of the Providing, at a worth per Frequent Share of US$2.38 – the identical strike worth than the warrants beforehand issued to Normal Motors Holdings LLC, a completely owned subsidiary of Normal Motors Co. (collectively, “GM”) (NYSE: GM), Panasonic Power Co., Ltd. (“Panasonic Power”), a completely owned subsidiary of Panasonic Holdings Company (“Panasonic”) (TYO: 6752), and Mitsui & Co. , Ltd. (“Mitsui”) (TYO: 8031) in February 2024. The train of the Warrants is topic to sure possession limitations.
In reference to the funding, NMG will even enter into an investor rights settlement (collectively, the “Investor Rights Agreements”) and a registration rights settlement with every of CGF and IQ on the closing of their funding. Pursuant to the Investor Rights Agreements, every of CGF and IQ will probably be restricted from promoting its respective securities till August 28, 2025. The Investor Rights Agreements additionally present every of CGF and IQ with sure rights regarding its funding in NMG, together with particularly sure board nomination and anti-dilution rights.
The Frequent Shares and the Warrants will probably be topic to a four-month maintain interval below Canadian securities legal guidelines. CGF’s and IQ’s investments are anticipated to shut concurrently on or about December 19, 2024. Closing of the investments is topic to sure customary circumstances and regulatory approvals, together with the approval of the TSX Enterprise Trade (the “TSXV“) and the authorization of the New York Inventory Trade.
Continued Progress Towards FID
The Firm is actively progressing towards the finalization of an up to date feasibility research for its built-in Section-2 operations to optimize manufacturing parameters, engineering, and price projections; the up to date outcomes are anticipated early in Q1-2025. Proceeds from the contemplated funding are destined to advance detailed and equipment-specific engineering with procurement of some long-lead objects, assist Section-2 critical-path actions in addition to to cowl basic and administrative bills, working capital, and financing prices.
NMG continues the preparation to FID by way of the signature of an Affect and Profit Settlement with the Atikamekw First Nation of Manawan for the Matawinie Mine , industrial engagement with anchor and potential clients in addition to challenge financing planning actions with potential lenders, anchor clients and institutional fairness traders.
About Nouveau Monde Graphite
Nouveau Monde Graphite is an built-in firm growing accountable mining and superior manufacturing operations to produce the worldwide economic system with carbon-neutral energetic anode materials to energy EV and renewable power storage methods. The Firm is growing a completely built-in ore-to-battery-material supply of graphite-based energetic anode materials in Québec, Canada. With enviable ESG requirements and structuring partnerships with anchor clients, NMG is about to turn out to be a strategic provider to the world’s main lithium-ion battery and EV producers, offering high-performing and dependable superior supplies whereas selling sustainability and provide chain traceability. www.NMG.com
About Canada Progress Fund
CGF is a $15 billion public fund, at arm’s size from the federal government, that can assist appeal to non-public capital to construct Canada’s inexperienced economic system. It is going to do that by utilizing risk-absorbing funding devices to encourage non-public fairness in low-carbon tasks, applied sciences, corporations and provide chains. CGF will make strategic investments to assist Canada obtain nationwide financial and local weather coverage aims. For extra info on CGF’s mandate, strategic aims, funding standards, scope of funding actions and vary of devices, please go to www.cgf-fcc.ca/en/ .
About Investissement Québec
Investissement Québec’s mission is to play an energetic function in Quebec’s financial growth by stimulating enterprise innovation, entrepreneurship, and enterprise acquisitions, in addition to progress in funding and exports. Working in all of the province’s administrative areas, the Company helps the creation and progress of companies of all sizes with investments and customised monetary options. It additionally assists companies by offering consulting providers and different assist measures, together with technological help out there from Investissement Québec Innovation. As well as, by Investissement Québec Worldwide, the Company prospects for expertise and overseas funding, and assists Quebec companies with export actions.
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Cautionary Word
This press launch comprises “forward-looking info” and “forward-looking statements” inside the that means of relevant securities laws (collectively, ” forward-looking statements “), together with, however not restricted to, statements regarding future occasions or future monetary or working efficiency of the Firm and replicate administration’s expectations and assumptions relating to the Firm’s progress, outcomes, efficiency and enterprise prospects and alternatives. Such forward-looking statements replicate administration’s present beliefs and are primarily based on info at present out there to it. These forward-looking statements embody, however aren’t restricted to, statements describing the Firm’s potential to proceed its growth towards industrial operations, the Firm’s potential to acquire all needed regulatory approvals, together with the ultimate approval of the TSXV for the Providing, the meant use of proceeds of the Providing, the Firm’s potential to make tangible developments and place strategic orders in preparation for the challenge execution, the optimistic final result of FID, the receipt of the up to date outcomes of the feasibility research in Q1-2025, the Firm’s potential to produce the worldwide economic system with carbon-neutral energetic anode materials to energy EV and renewable power storage methods, to develop a completely built-in ore-to-battery-material supply of graphite-based energetic anode materials within the Province of Québec, to create the biggest absolutely built-in pure graphite manufacturing facility in North America, to turn out to be a strategic provider to the world’s main lithium-ion battery and EV producers and to supply high-performing and dependable superior supplies whereas contributing to a neighborhood, sustainable and dependable provide chain, the anticipated outcomes of the initiatives described on this press launch, these statements that are mentioned below the “About Nouveau Monde” paragraph, these statements that are mentioned below the “About Canada Progress Fund” paragraph, and people statements that are mentioned below the “About Investissement Québec” paragraph, and elsewhere within the press launch which basically describe the Firm’s outlook and aims.
Ahead-looking statements are primarily based on cheap assumptions which have been made by the Firm as on the date of such statements and are topic to recognized and unknown dangers, uncertainties, and different components that will trigger the precise outcomes, stage of exercise, efficiency, or achievements of the Firm to be materially totally different from these expressed or implied by such forward-looking statements, together with however not restricted to, basic enterprise and financial circumstances, the precise outcomes of present growth, engineering and planning actions, entry to capital and future costs of graphite, mining growth actions inherent dangers, the speculative nature of mining growth, modifications in mineral manufacturing efficiency, the uncertainty of processing the Firm’s know-how on a industrial foundation, growth and manufacturing timetables, competitors and market dangers; pricing pressures, different dangers of the mining business, and extra engineering and different evaluation is required to completely assess their impression, the truth that sure of the initiatives described on this press launch, are nonetheless within the early phases and should not materialize, enterprise continuity and disaster administration, political instability and worldwide conflicts. A extra detailed description of dangers and uncertainties may be discovered within the part entitled “Threat Elements” within the Firm’s most up-to-date annual info kind and within the Firm’s most up-to-date MD&A, which is obtainable on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov . Different unpredictable or unknown components not mentioned on this cautionary notice may even have a cloth adversarial impact on the forward-looking statements.
There may be no assurance that such forward-looking statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. The Firm doesn’t undertake to replace or revise any forward-looking statements which might be included on this press launch, whether or not on account of new info, future occasions, or in any other case, besides in accordance with relevant securities legal guidelines.
Market and business information introduced all through this press launch was obtained from third-party sources and business studies, publications, web sites, and different publicly out there info, in addition to business and different information ready by the Firm or on behalf of the Firm primarily based on its data of the markets during which the Firm operates, together with however not restricted to info offered by suppliers, companions, clients and different business members. The Firm believes that the market and financial information introduced all through this press launch is correct as of the date of publication and, with respect to information ready by the Firm or on behalf of the Firm, that estimates and assumptions are at present acceptable and cheap, however there may be no assurance as to the accuracy or completeness thereof. The accuracy and completeness of the market and financial information introduced all through this press launch aren’t assured and the Firm doesn’t make any illustration as to the accuracy of such information and the Firm doesn’t undertake to replace or revise such information. Precise outcomes could range materially from these forecasted in such studies or publications, and the prospect for materials variation may be anticipated to extend because the size of the forecast interval will increase. Though the Firm believes it to be dependable as of the date of publication, the Firm has not independently verified any of the info from third-party sources referred to on this press launch, analyzed or verified the underlying research or surveys relied upon or referred to by such sources, or ascertained the underlying market, financial and different assumptions relied upon by such sources. Market and financial information are topic to variations and can’t be verified on account of limits on the provision and reliability of information inputs, the voluntary nature of the data-gathering course of and different limitations and uncertainties inherent in any statistical survey.
Neither the TSX Enterprise Trade nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this press launch.
This press launch doesn’t represent a suggestion to promote or a solicitation of a suggestion to purchase any of the securities in america. The securities provided haven’t been and won’t be registered below america Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities legal guidelines and is probably not provided or bought inside america or to U.S. Individuals until registered below the U.S. Securities Act and relevant state securities legal guidelines or an exemption or exclusion from such registration is obtainable. “United States” and “U.S. Individual” are as outlined in Regulation S below the U.S. Securities Act.
Further details about the Firm is obtainable by our common submitting of press releases, monetary statements and our most up-to-date Annual Info Type on SEDAR+ ( www.sedarplus.ca ) and EDGAR ( www.sec.gov ). These paperwork and different details about NMG may also be discovered on our web site at: www.NMG.com
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MEDIA
Julie Paquet
VP Communications & ESG Technique
+1-450-757-8905 #140
jpaquet@nmg.com
INVESTORS
Marc Jasmin
Director, Investor Relations
+1-450-757-8905 #993
mjasmin@nmg.com
