On February 15, 2024, NMG announced having secured multiyear offtake agreements with Panasonic Energy and GM for the supply of active anode material, covering approximately 85% of the Company’s Phase-2 production. The strategic partnerships were assorted with equity investments of US$50 M to advance NMG’s Phase 2 development and targeted future funding of up to US$275 M at the time of the final investment decision, subject to certain conditions. Long-time investor Pallinghurst and strategic partner Mitsui also inject US$37.5 M.

NMG’s Management Team hosted an Investor Briefing for shareholders and analysts to review the details of the announcement.

NMG is advancing what is set to be North America’s largest integrated source of natural graphite-based solutions for the energy transition.