Nouveau Monde Graphite Inc. (“NMG” or the “Company”) (NYSE: NMG, TSXV: NOU) has exciting news to share. At a special meeting of the Company’s shareholders held today, shareholders approved the previously announced aggregate US$37.5-million private placements from Mitsui & Co., Ltd. (TYO: 8031) and Pallinghurst Bond Limited. This transaction involves NMG issuing common shares and warrants in exchange for the surrender and cancellation of Mitsui’s and Pallinghurst’s convertible notes.
Mitsui committed to a private placement of US$25 million, and Pallinghurst to a private placement of US$12.5 million, contingent upon the approval of disinterested shareholders and regulatory authorities. The Company’s disinterested directors engaged Fort Capital Partners to conduct a valuation analysis and fairness opinion, which concluded that the private placements are fair to shareholders (other than Mitsui and Pallinghurst).
Shareholders also voted in favor of all resolutions, including the creation of new control persons and other matters. The closing of the private placements is expected to occur on May 2, 2024, subject to final approval from the TSX Venture Exchange.
In this transaction, Mitsui will receive 12,500,000 Common Shares and warrants, while Pallinghurst will receive 6,250,000 Common Shares and warrants. Additionally, 1,579,043 common shares will be issued to complete the redemption of convertible notes.
Nouveau Monde Graphite is a forward-thinking company developing responsible mining and advanced manufacturing operations. With a focus on sustainability and partnership with key EV and renewable energy manufacturers, NMG aims to be a strategic supplier in the global market. For more information, visit www.NMG.com.
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We remind readers that forward-looking statements in this press release are subject to risks and uncertainties. Investors are encouraged to review the Company’s Annual Information Form for a comprehensive understanding of potential risks.
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About Nouveau Monde Graphite:
Nouveau Monde Graphite is committed to providing carbon-neutral active anode material for EV and energy storage systems. Through sustainable practices and strategic partnerships, NMG aims to play a key role in the global transition to renewable energy sources.
If you have any media inquiries, please contact Julie Paquet, VP Communications and ESG Strategy, at +1-450-757-8905, ext. 140 or jpaquet@nmg.com.
For investor relations, reach out to Marc Jasmin, Director of Investor Relations, at +1-450-757-8905, ext. 993 or mjasmin@nmg.com.