- The private placement forms part of the previously announced financing, which included a public offering of US$59.4 million which was completed in June 2021
- Investissement Qubec, acting as mandatary for the government of Qubec, shows strong ongoing support, subscribing for the full amount of the private placement
MONTREAL, July 23, 2021 (GLOBE NEWSWIRE) -- Nouveau Monde Graphite Inc. (“Nouveau Monde” or the “Company”) ( NYSE: NMG , TSXV: NOU ; Frankfurt: NM9A ) is pleased to announce that it has closed the non-brokered private placement (the “Private Placement”) of common shares of the Company previously announced on June 15, 18 and 23, 2021. The Private Placement was launched concurrently with the public offering of US$59.4 million of the Company, which closed on June 23, 2021.
Pursuant to the Private Placement, the Company issued to Investissement Qubec, acting as mandatary for the government of Qubec, a total of 1,978,750 common shares at a price of C$9.25 per share for proceeds to the Company of approximately C$18.3 million. The common shares issued pursuant to the Private Placement will be subject to a statutory hold period in Canada for a period of four months and one day.
The Company expects the net proceeds of the Private Placement to be used towards the development of the Matawinie mine project and LiB anode plant project and for general working capital and corporate expense needs.
The Private placement is conditional to the final approval of the TSX Venture Exchange.