NMG Acquires Mason Resources' Lac Guéret GraphiteFYI,
Press Release: MASON RESOURCES EMERGES AS STRATEGIC SHAREHOLDER OF NOUVEAU MONDE GRAPHITE THROUGH SALE OF LAC GURET GRAPHITE PROPERTY MASON RESOURCES EMERGES AS STRATEGIC SHAREHOLDER OF NOUVEAU MONDE GRAPHITE THROUGH SALE OF LAC GURET GRAPHITE PROPERTY
Canada NewsWire
TORONTO, Jan. 22, 2024
TORONTO, Jan. 22, 2024 /CNW/ - Mason Resources Inc. (the "Company" or "Mason") (TSXV: LLG) (OTCQX: MGPHF) is pleased to announce having entered into an asset purchase agreement dated January 21, 2024 (the "APA") with Nouveau Monde Graphite Inc. ("NMG") (NYSE: NMG) (TSXV: NOU) for the sale of the Lac Guret Property, targeted for the development of the Uatnan Mining Project.
In consideration for the sale of the Lac Guret Property, Mason will receive 6,208,210 common shares of NMG, representing a 143% premium on the implied market value of the Lac Guret Property and 9.25% of the pro forma issued and outstanding common shares of NMG, to be issued to Mason upon the closing of the transaction, and an additional payment of $5,000,000 in cash at the start of commercial production of the contemplated Uatnan Mining Project. GLTA