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, through its agent Investissement Québec (“IQ”), in NMG for an combination quantity of US$50 million to proceed advancing its growth towards business operations, topic to regulatory approvals. Because the Firm prepares for a last funding choice (“FID”) relating to its Part-2 Matawinie Mine and Bécancour Battery Materials Plant, the funding is specifically 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, said: “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 important 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 workforce to make tangible developments and place strategic orders in preparation for our challenge execution. We’re dedicated to delivering high-performing and dependable lively anode supplies to the North American battery and electrical automobile (“EV”) markets, contributing to an area, sustainable and dependable provide chain.”
Patrick Charbonneau, President and CEO of Canada Progress Fund Funding Administration Inc. (“CGFIM”), stated : “Buyers and policymakers alike acknowledge the strategic significance of securing a steady provide of essential minerals, that are indispensable for important for high-tech industries, from protection to renewable vitality and batteries. CGF is happy to spend money on 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 impartial and arm’s size public fund of the Canadian federal authorities, to NMG’s massive shareholders strengthen the Firm’s backing of key institutional buyers and supply a good roadmap to challenge financing upon a constructive FID. CGF has a mandate to capitalize on Canada’s abundance of pure assets and strengthen essential provide chains to assist the nation’s long-term prosperity. CGFIM, a completely owned subsidiary of PSP Investments, acts because the impartial 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 “Widespread Shares”), topic to sure circumstances, for combination gross proceeds of US$50 million (the “Providing”). Pursuant to the Providing, the Firm will difficulty 39,682,538 Widespread Shares at a value of US$1.26 per Widespread Share.
For every Widespread Share so subscribed, the Firm will difficulty one share buy warrant (the “Warrants”) to every of CGF and IQ. The Warrant will entitle the holder thereof to accumulate one Widespread Share, from FID to the date that’s 5 years from the closing of the Providing, at a value per Widespread Share of US$2.38 – the identical strike value than the warrants beforehand issued to Common Motors Holdings LLC, a completely owned subsidiary of Common 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 may 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 might 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 referring to its funding in NMG, together with specifically sure board nomination and anti-dilution rights.
The Widespread Shares and the Warrants might be topic to a four-month maintain interval beneath 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 normal circumstances and regulatory approvals, together with the approval of the TSX Enterprise Alternate (the “TSXV”) and the authorization of the New York Inventory Alternate.
Continued Progress Towards FID
The Firm is actively progressing towards the finalization of an up to date feasibility examine for its built-in Part-2 operations to optimize manufacturing parameters, engineering, and value 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 Part-2 critical-path actions in addition to to cowl basic and administrative bills, working capital, and financing prices.
NMG continues the preparation to FID through the signature of an Influence and Profit Settlement with the Atikamekw First Nation of Manawan for the Matawinie Mine , business engagement with anchor and potential clients in addition to challenge financing planning actions with potential lenders, anchor clients and institutional fairness buyers.
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 lively anode materials to energy EV and renewable vitality storage techniques. The Firm is growing a completely built-in ore-to-battery-material supply of graphite-based lively anode materials in Québec, Canada. With enviable ESG requirements and structuring partnerships with anchor clients, NMG is ready to turn into 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 may assist appeal to non-public capital to construct Canada’s inexperienced economic system. It’ll do that by utilizing risk-absorbing funding devices to encourage non-public fairness in low-carbon tasks, applied sciences, firms and provide chains. CGF will make strategic investments to assist Canada obtain nationwide financial and local weather coverage goals. For extra data on CGF’s mandate, strategic goals, 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 lively 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 companies and different assist measures, together with technological help accessible from Investissement Québec Innovation. As well as, by Investissement Québec Worldwide, the Company prospects for expertise and international funding, and assists Quebec companies with export actions.
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Cautionary Notice
This press launch incorporates “forward-looking data” and “forward-looking statements” throughout the that means of relevant securities laws (collectively, ” forward-looking statements “), together with, however not restricted to, statements referring to 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 data at present accessible to it. These forward-looking statements embrace, however usually are not restricted to, statements describing the Firm’s potential to proceed its growth towards business operations, the Firm’s potential to acquire all essential 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 constructive consequence of FID, the receipt of the up to date outcomes of the feasibility examine in Q1-2025, the Firm’s potential to produce the worldwide economic system with carbon-neutral lively anode materials to energy EV and renewable vitality storage techniques, to develop a completely built-in ore-to-battery-material supply of graphite-based lively anode materials within the Province of Québec, to create the biggest absolutely built-in pure graphite manufacturing facility in North America, to turn into a strategic provider to the world’s main lithium-ion battery and EV producers and to offer high-performing and dependable superior supplies whereas contributing to an area, sustainable and dependable provide chain, the anticipated outcomes of the initiatives described on this press launch, these statements that are mentioned beneath the “About Nouveau Monde” paragraph, these statements that are mentioned beneath the “About Canada Progress Fund” paragraph, and people statements that are mentioned beneath the “About Investissement Québec” paragraph, and elsewhere within the press launch which primarily describe the Firm’s outlook and goals.
Ahead-looking statements are primarily based on cheap assumptions which were made by the Firm as on the date of such statements and are topic to identified 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 completely 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 business foundation, growth and manufacturing timetables, competitors and market dangers; pricing pressures, different dangers of the mining trade, 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 levels and will not materialize, enterprise continuity and disaster administration, political instability and worldwide conflicts. A extra detailed description of dangers and uncertainties could be discovered within the part entitled “Threat Elements” within the Firm’s most up-to-date annual data kind and within the Firm’s most up-to-date MD&A, which is offered on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov . Different unpredictable or unknown components not mentioned on this cautionary be aware might even have a cloth antagonistic impact on the forward-looking statements.
There could be no assurance that such forward-looking statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. The Firm doesn’t undertake to replace or revise any forward-looking statements which can be included on this press launch, whether or not on account of new data, future occasions, or in any other case, besides in accordance with relevant securities legal guidelines.
Market and trade information offered all through this press launch was obtained from third-party sources and trade stories, publications, web sites, and different publicly accessible data, in addition to trade and different information ready by the Firm or on behalf of the Firm primarily based on its information of the markets by which the Firm operates, together with however not restricted to data supplied by suppliers, companions, clients and different trade contributors. The Firm believes that the market and financial information offered 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 applicable and cheap, however there could be no assurance as to the accuracy or completeness thereof. The accuracy and completeness of the market and financial information offered all through this press launch usually are not 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 might differ materially from these forecasted in such stories or publications, and the prospect for materials variation could 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 information 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 as a consequence of limits on the provision and reliability of knowledge inputs, the voluntary nature of the data-gathering course of and different limitations and uncertainties inherent in any statistical survey.
Neither the TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts accountability for the adequacy or accuracy of this press launch.
This press launch doesn’t represent a proposal to promote or a solicitation of a proposal to purchase any of the securities in america. The securities supplied haven’t been and won’t be registered beneath america Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities legal guidelines and is probably not supplied or bought inside america or to U.S. Individuals until registered beneath the U.S. Securities Act and relevant state securities legal guidelines or an exemption or exclusion from such registration is offered. “United States” and “U.S. Particular person” are as outlined in Regulation S beneath the U.S. Securities Act.
Extra details about the Firm is offered by our common submitting of press releases, monetary statements and our most up-to-date Annual Info Kind on SEDAR+ ( www.sedarplus.ca ) and EDGAR ( www.sec.gov ). These paperwork and different details about NMG can 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
