Nemaska Lithium closes C$99M private placement with SoftBank Group
April 25, 2018
99.00 Million CAD
On April 25, 2018, Nemaska Lithium Inc. ("Nemaska") announced that it has completed a C$99.075 million private placement of subscription receipts with SoftBank Group Corp. ("SoftBank"). Pursuant to the transaction, SoftBank will acquire up to 9.9% of Nemaska Lithium's common shares. The private placement is part of Nemaska's overall financing project and will allow the company to secure approximately C$1.1 billion in financing to fund the construction and commissioning of Nemaska’s Whabouchi Mine in Quebec and its Shawinigan plant.
Nemaska is a Quebec-based developing chemical company that focuses on commercializing high-purity lithium hydroxide and lithium carbonate. Nemaska is developing in Quebec one of the most important spodumene lithium hard rock deposit in the world, both in volume and grade.
SoftBank Group Corp., based in Tokyo, is part of the SoftBank Group's global portfolio of technology companies which focus on advanced telecommunications, internet services, AI, smart robotics, IoT and clean energy technology providers.
McCarthy Tétrault advised Nemaska with a team that included Philippe Fortier, Charles-Antoine Souliere, Louis-Charles Filiatrault, Thomas Etienne, Louis-Nicolas Boulanger and Martin Thiboutot (Business), Robert Nearing (Tax), Dominique Amyot-Bilodeau (Environmental), and Danielle Drolet (Real Estate).