Nouveau Monde Graphite completes C$10.3M private placement with Pallinghurst Graphite
April 25, 2019
10.30 Million CAD
On April 25, 2019, Nouveau Monde Graphite Inc. completed its previously announced non-brokered private placement agreement with Pallinghurst Graphite Limited pursuant to which Nouveau Monde issued 43,825,000 common shares at a price of C$0.23 per share for gross proceeds of approximately C$10.3 million. Nouveau Monde intends to use the proceeds from the offering to partially fund the next stage of development of its Matawinie project, a graphite development project north of Montreal.
Nouveau Monde is a mineral exploration company focused on exploring and evaluating properties in Quebec. Its Matawinie project has an estimated production of 100,000 tonnes of graphite concentrate per year over a period of 25 years.
Pallinghurst Graphite is an affiliate of The Pallinghurst Group, a UK-based investor in the global metals and mining sector. Based in London, The Pallinghurst Group has invested over US$1.5 billion in mining projects.
McCarthy Tétrault LLP advised Nouveau Monde with a team led by Philippe Fortier that included Isabelle Nazon and Alexis Hudon (Business) and Cindy Vaillancourt (Environmental).