Nouveau Monde Graphite Inc T.NOU

NMG and Panasonic Energy Announce Binding Offtake Agreement

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February 15, 2024 06:30 AM Eastern Standard Time

MONTREAL--(BUSINESS WIRE)--Nouveau Monde Graphite Inc. (“NMG“ or the “Company”) (NYSE: NMG, TSX.V: NOU) and Panasonic Energy Co., Ltd. (“Panasonic Energy”), a wholly owned subsidiary of Panasonic Holdings Corporation (“Panasonic”) (TYO: 6752), have entered into a binding offtake agreement (the “Offtake Agreement”) pursuant to which NMG will supply 18,000 tonnes per annum (“tpa”) of its planned Phase-2 active anode material production to Panasonic Energy for an initial period of seven years. In addition to the Offtake Agreement, NMG and Panasonic also entered into a subscription agreement (the “Subscription Agreement”) for Panasonic to make an initial US$25-million equity investment in NMG (the “Tranche 1 Investment”) to support the advancement of NMG’s Phase-2 operations – the Matawinie Mine and the Bcancour Battery Material Plant – in line with Panasonic Energy’s specifications refined during the qualification process and technical collaboration.

NMG and Panasonic Energy Announce Binding Offtake Agreement and US$25 Million Private Placement to Secure the Supply of Active Anode Material for North American Battery Production | Business Wire