Investissement Québec closed its US$25M private placement in Nouveau Monde Graphite Inc., along with Canada Growth Fund Inc., representing a gross aggregate amount of US$50M
Date Closed
December 20, 2024
Lead Office
Québec City
Value
50.00 Million USD
On December 20, 2024, Investissement Québec (“IQ”) announced the closing of its US$25 million private placement in Nouveau Monde Graphite Inc. (“NMG”), along with Canada Growth Fund Inc. (“CGF”), representing a gross aggregate amount of US$50 million (the “Private Placement”). Pursuant to the Private Placement, each of CGF and IQ subscribed to 19,841,269 common shares of NMG and 19,841,269 common share purchase warrants.
IQ’s mission is to promote the growth of investment in Québec, thereby contributing to economic development and job creation in all regions. It provides businesses with a full range of financial solutions including loans, loan guarantees and equity investments to support them at all stages of their development.
CGF is a C$15 billion independent and arm’s length public fund that helps Canada to speed up the deployment of technologies in its efforts to reduce emissions, transform its economy and support the long-term prosperity of Canadians.
NMG is an integrated company developing responsible mining and advanced manufacturing operations to supply the global economy with carbon-neutral active anode material to power EV and renewable energy storage systems. NMG is developing a fully integrated ore-to-battery-material source of graphite-based active anode material in Québec, Canada. With enviable ESG standards and structuring partnerships with anchor customers, NMG is set to become a strategic supplier to the world’s leading lithium-ion battery and EV manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability.
McCarthy Tétrault assisted IQ with a team led by Charles-Antoine Soulière that included Dominique Amyot-Bilodeau (Environmental), Asma Boudoukha, Joseph Gagnon and Annie Poirier-Simard (Business).