Nouveau Monde Graphite Secures $20 Million in Public Offering to Fund Key Growth Initiatives
Nouveau Monde Graphite Inc. (“NMG”) announced the successful closing of its previously announced public offering, raising approximately $20 million in gross proceeds. The offering consisted of 8,333,334 common shares priced at $2.40 per share. Maxim Group LLC served as the sole placement agent for this transaction.
The capital infusion is strategically allocated to advance NMG’s critical projects. A significant portion will be directed towards the procurement of long-lead equipment and the commencement of construction activities for the Matawinie Mine project, alongside covering detailed engineering and indirect costs. Furthermore, funds will support engineering efforts for the Bécancour Battery Material Plant project, aiming to achieve an AACE Class 3 estimate. The remaining proceeds will bolster general working capital and corporate expenditures, ensuring operational flexibility and supporting ongoing business development.
This offering was conducted through a prospectus supplement filed in Canada and a registration statement on Form F-10 filed with the U.S. Securities and Exchange Commission (SEC) under the Multi-Jurisdictional Disclosure System. This framework facilitates the dual listing and cross-border offering, streamlining regulatory processes for both Canadian and U.S. investors. The offering was exclusively made in the United States and permitted foreign jurisdictions, with no shares offered or sold within Canada. Investors can access the detailed prospectus information through SEDAR+ in Canada and the SEC’s EDGAR database in the United States.
Nouveau Monde Graphite is committed to becoming a leading supplier of carbon-neutral advanced graphite materials. The company’s integrated approach, encompassing responsible mining and advanced processing, positions it to serve burgeoning industries such as energy, defense, technology, and manufacturing. NMG’s focus on recognized ESG standards and strategic customer partnerships underscores its ambition to be a pivotal player in the global supply chain for critical battery materials. The company’s operations in Québec, Canada, are designed to create a fully integrated value chain from ore to processed graphite, emphasizing sustainability and traceability.
The financial maneuvering by NMG highlights a strategic push to operationalize its growth pipeline. The company’s dual-listing strategy on both the NYSE and TSX signals its intent to tap into broader capital markets and cater to a diverse investor base. The use of proceeds, particularly for achieving an AACE Class 3 estimate for the Bécancour plant, indicates a move towards more refined project planning and cost control, a crucial step in de-risking large-scale capital investments and providing greater confidence to stakeholders.
This capital raise is significant in the context of the rapidly expanding electric vehicle and battery storage markets, where graphite is a fundamental component. NMG’s commitment to carbon-neutral production and its integrated model address growing concerns about supply chain security and environmental impact. The successful completion of this offering provides NMG with the necessary runway to execute its ambitious development plans, potentially solidifying its position as a key North American supplier of critical battery minerals.
*This press release contains forward-looking statements. Investors are advised to consult the company’s filings for a comprehensive understanding of the risks and uncertainties involved.*
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