Nouveau Monde Graphite Inc. (NYSE: NMG) (TSX-V: NOU) announces it has closed its private placement announced on October 20, 2022 of unsecured convertible notes for aggregate gross proceeds of US$50 million in accordance with the subscription agreements entered into between the Company and each of Mitsui & Co., LTD (TYO:8031), Pallinghurst Bond Limited and Investissement Québec on October 19, 2022. Through the Private Placement, Mitsui subscribed for US$25 million in Convertible Note, while Pallinghurst and IQ each subscribed for US$12.5 million. The Company intends to use the proceeds of the Private Placement to work in the upcoming months on optimizing the feasibility study dated July 6, 2022, on NMG’s Phase-2 Commercial integrated operations, which was filed on SEDAR and EDGAR on August 10, 2022.
The Convertible Notes are subject to a hold period of 4 months and one day expiring on March 9, 2023 (and the common shares and warrants of the Company issuable upon conversion of the Convertible Notes, if issued before that period).
For further information regarding the Private Placement and the Convertible Notes, please refer to NMG’s press release dated October 20, 2022, available under NMG’s profile on SEDAR at www.sedar.com and on EDGAR www.sec.gov, and on NMG’s website at: https://nmg.com/panasonic-offtake/.
NMG is striving to become a key contributor to the sustainable energy revolution. The Company is working towards 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 ESG standards, NMG 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.
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