DealsMay 14, 2026, 10:21 AM
Nouveau Monde Graphite Signs Offtake with Canada; Shareholders Approve $213M Private Placements
AI Summary
Nouveau Monde Graphite Inc. announced the signing of a definitive binding offtake agreement with the Government of Canada for 30,000 tonnes per annum of graphite concentrate from its Phase 2 Matawinie Mine. This seven-year take-or-pay agreement includes a North American fixed price and an upside-sharing mechanism. Additionally, shareholders approved private placements totaling approximately US$213 million from Canada Growth Fund Inc., Investissement Québec, and ENI International B.V., along with the election of all director nominees and the re-appointment of the external auditor.
Key Highlights
- Nouveau Monde Graphite signed a definitive binding offtake agreement with the Government of Canada for 30,000 tonnes per annum of graphite concentrate.
- The offtake agreement covers a seven-year term from the start of commercial production on a take-or-pay basis.
- Shareholders approved private placements totaling approximately US$213M from Canada Growth Fund Inc., Investissement Québec, and ENI International B.V.
- The private placements involve issuing 33,351,853 common shares to IQ, 44,452,460 to CGF, and 38,043,478 to ENI, all at US$1.84 per share.
- All eight director nominees, including new director Hubert T. Lacroix, were elected with over 99% of votes in favor.
- PricewaterhouseCoopers LLP was re-appointed as the external auditor with 99.86% votes in favor.
- Shareholders approved amendments to IQ and CGF warrants, extending their expiry date to December 20, 2030.