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Mason Graphite Enters Into OJV Agreement and Completes $2.5 Million Private Placement with Nouveau Monde

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Mason Graphite Enters Into OJV Agreement and Completes $2.5 Million Private Placement with Nouveau Monde

 

 

 

 

 

Mason Graphite Inc. (TSX-V: LLG) (OTCQX: MGPHF) announced the initial closing of the previously announced transactions contemplated under the investment agreement dated May 15, 2022 between the Company and Nouveau Monde Graphite Inc. (NYSE: NMG) (TSX-V: NOU).

 

Pursuant to the Investment Agreement, Mason Graphite has entered into an option and joint venture agreement with Nouveau Monde. Concurrently with the execution of the OJV Agreement, Mason Graphite and Nouveau Monde have completed the private placement of 5.0 million common shares of the Company to Nouveau Monde at a price of $0.50 per Inital Share for gross proceeds to the Company of $2.5 million. The Company intends to use the net proceeds from the sale of the Initial Shares to fund agreed expenses on the Lac Guéret property pursuant to the OJV Agreement. The Initial Shares will be subject to a four-month hold period pursuant to applicable securities laws.

 

A copy of the OJV Agreement will be made available under Mason Graphite’s profile on SEDAR at www.sedar.com.

 

About Mason Graphite

 

Mason Graphite is a Canadian corporation focused on the production and transformation of natural graphite. Its strategy includes the development of value-added products, notably for green technologies like transport electrification. The Company also owns 100% of the rights to the Lac Guéret deposit, one of the richest graphite deposits in the world. The Company is also the largest shareholder of Black Swan Graphene Inc., a Canadian private company focusing on the large-scale production and commercialization of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymers, Li-ion batteries and others.

 

About Nouveau Monde

 

Nouveau Monde is striving to become a key contributor to the sustainable energy revolution. The company is working toward developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada, for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable environmental, social and governance (ESG) standards, Nouveau Monde aspires to become a strategic supplier to the world’s leading battery and automobile manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability.

 

Posted July 20, 2022

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