The Nemaska Lithium investors group on Facebook OUR GROUP PUT OUT THIS COMMUNUQUE yesterday
Press release / Press Release / Nemaska, justice for small savers
Small shareholders have trusted the Government of Quebec and the information provided by the company Nemaska Lithium and have invested their hopes and their savings in order to promote expertise and entrepreneurship for the economic development of Quebec. The likely result, if nothing is done by Franois Legault, is that small savers will lose all their money. Why do shareholders risk significant losses as a result of management decisions for which they are not responsible?
Nemaska is under the protection of creditors and a Refinancing Plan will re-launch the company. This Plan must be based in particular on the partnership of individual shareholders. In order to promote this partnership, the shareholders have grouped together as The Nemaska Shareholders Group.They have created a Facebook group which currently reaches 1,500 of the 25,000 individual shareholders. The number of members is growing very quickly and all shareholders are invited to join the Facebook group: Nemaska Lithium Investors Group / Nemaska Lithium investors Group. The majority of members have signed proxies to the board of directors of the Regroupement, an NPO, to officially represent them. Together, the shareholders represent 508 million shares or 60% of all Nemaska Lithium shares, valued at approximately $ 350 million. Our economic contribution cannot be ignored and we demand justice. Are we wrong to believe in the possibility of contributing to Quebec's economic development? Yet Franois Legault has promised us the enrichment of Quebec and Quebecers. We believed it and we still believe it.
The Whabouchi mine in James Bay, the expertise of the pilot P1P production plant for LiOH, the many patents protecting the innovative electrochemical process and the agreement with Aurora Lithium, a joint venture with Northvolt, to exploit this process electrochemical in Europe, and the Shawinigan plant have great economic value and strong development potential. Quebec is capable of extracting lithium, purifying it and manufacturing efficient lithium batteries, while respecting the environment and Aboriginal communities. With a view to sustainable development, Nemaska Lithium , in collaboration with Hydro-Qubec, has developed expertise in recycling lithium batteries and uses an electrochemical process that saves millions of liters of water needed for swamp lithium. The lithium hydroxide produced by Nemaska is of high quality at one of the lowest production costs in the world. The Nemaska Lithium Shareholders' Association wishes to continue to be partners of Nemaska Lithium for the benefit of Quebec and its shareholders.
The Nemaska Shareholder Group calls for justice. We ask Prime Minister Franois Legault, Minister Pierre Fitzgibbon, Guy Leblanc, CEO of Investissement Qubec, Jacques Malette, Chairman of the Board of Nemaska and the Government of Canada to contribute without delay to a solution in order to: 1) preserve the public status of Nemaska and the NMX shares on the Toronto stock exchange and 2) to grant the Group a representative on the board of directors of Nemaska-Lithium.