RE:RE:RE:RE:RE:RE:RE:RE:The Nemaska Lithium Association of Small Investors on FBDear Calgary. I don't understand your abnoxious and vindicative attitude. I'am willing to chalenge you to an IQ competition anytime. Instead of participating in a legitimate debate you indulge in personal insults. That is not a sign of a cultured and knowledgeable person.
Here is the info on Softbank.
Tell us, if you know, how many common stocks Softbank still holds in NL Inc. and also how many you do. If you don't hold any, than explain to us your constant presence on this section of Stockehouse://///////////////////////////////////////////////////////
QUBEC CITY, QUBEC--(Marketwired - April 5, 2018) - Nemaska Lithium Inc. ("Nemaska Lithium" or the "Corporation") (TSX:NMX)(OTCQX:NMKEF)(FRANKFURT:N0T) is pleased to provide further details on its project financing plans and to announce that it has entered into an investment agreement (the "Investment Agreement") with SoftBank Group Corp. ("SoftBank") for a private placement (the "Placement") of common share subscription receipts (the "Receipts") at a price of CAD 1.12 per Receipt for aggregate gross proceeds of up to CAD 99,075,000.
The Corporation's March 28, 2018 press release outlined its overall project financing plans to raise between USD 775M and USD 825M to fund the construction and commissioning of its Whabouchi Mine and Shawinigan Plant project and for general working capital (the "Project Financing"). The Placement proceeds will therefore be an important component of the equity portion of the Project Financing as the Corporation continues to work on various complementary financing alternatives, including a USD 300-350M debt financing and a USD 150M streaming facility for which the Corporation expects to provide further details in the short-term, both combined with additional private and/or public equity offerings. Under the Investment Agreement, SoftBank will acquire up to 9.9% of Nemaska Lithium's outstanding common shares ("Shares") after giving effect to the consummation of the Project Financing.
"Upon the completion of this transaction, SoftBank will be a new esteemed shareholder and customer for Nemaska Lithium and we are very pleased to welcome its team to our shareholder base and eventually welcome its nominee to our Board," said Guy Bourassa, President and CEO of Nemaska Lithium. "As a global technology pioneer and leader, SoftBank's culture of innovation melds very well with our own corporate values and is a clear endorsement of our approach to producing environmentally friendly, low-cost lithium compounds."
"This investment in Nemaska is of monumental importance to the SoftBank Group's strategy," said Masayoshi Son, Chairman & CEO of SoftBank Group Corp. "We are extremely pleased to be further accelerating the Mobile Revolution, an era of IoT (Internet of Things) and electric vehicles enabled by the fusion of technology and energy storage."
Completion of the Placement is subject to customary escrow release conditions for this type of transaction, including approval of the Toronto Stock Exchange. The closing of the Placement is expected to occur on or about 10 days following the announcement thereof.
The gross proceeds from the Placement will be held in escrow and, once the escrow release conditions will be satisfied or waived (which include raising additional equity, concluding the streaming facility agreement and securing debt financing commitments), each Receipt shall be automatically converted into one (1) Share and the net proceeds of the Placement will be released to the Corporation. If the escrow release conditions have not been satisfied or waived by August 6, 2018, the Receipts will be automatically cancelled and funds will revert to SoftBank.
If, after giving effect to the Placement, SoftBank holds less than 9.9% of the Shares then outstanding, it will be entitled to purchase additional Shares upon the same terms as the equity offerings forming part of the Project Financing to maintain its shareholdings up to 9.9% of the outstanding Shares. If, after giving effect to the Placement and consummation of the remaining equity portion of the Project Financing, SoftBank would hold more than 9.9% of the Shares outstanding on the escrow release date, the Receipts that would result in such excess will be cancelled such that SoftBank will hold no more than 9.9% of the Shares outstanding at such time (and the corresponding proceeds will revert to SoftBank).
Upon release of the Placement proceeds to the Corporation and for so long as SoftBank holds at least 5% of the outstanding Shares, an agreement providing SoftBank with a right of first offer to purchase up to 20% of the lithium hydroxide and lithium carbonate produced at the Shawinigan Plant from the spodumene concentrate coming from the Whabouchi Mine, will be effective and all purchases will be at pre-agreed discounts applicable to a pre-determined market price-based formula. SoftBank will also be entitled to one nominee as director of Nemaska Lithium and has been granted a pre-emptive right to participate in any further equity offering as long as it holds at least 5% of the Shares then outstanding.
SoftBank has agreed to customary standstill and support covenants and to either vote its Shares in favour of the slate of directors proposed to be elected by the Corporation or abstain from voting its Shares with respect to such matter; provided, however, that in no circumstances may SoftBank withhold any votes attached to any Shares with respect to such matter until the earlier of (a) September 1, 2020 and (b) the commencement of commercial production at the Whabouchi Mine and the Shawinigan Plant.