Nouveau Monde Graphite has closed its private placement for aggregate gross proceeds of US$50 million in accordance with the subscription agreements entered into between the Company and each of Panasonic and General Motors.
Nouveau Monde Graphite is ramping up its efforts in Bécancour, Québec, to implement its Phase-2 Bécancour Battery Materials Plant.
NMG's Management Team hosted an Investor Briefing for shareholders and analysts to review the details of the announcement.
On the back of agreed-upon offtake agreements with Panasonic Energy and General Motors, Nouveau Monde Graphite has rallied Mitsui and Pallinghurst for an aggregate combined investment of US$87.5 million to advance its development toward commercial operations.
Nouveau Monde Graphite and Panasonic Energy have entered into a binding 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.
Nouveau Monde Graphite and General Motors have agreed to sign a supply agreement upon closing of the Tranche 1 Investment, in which NMG will provide 18,000 tonnes per annum of its expected Phase-2 active anode material output to GM upon reaching full production for an initial term of six years.
