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Nouveau Monde to raise more than C$100 million for graphite mine and anode plant

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(Kitco News) - Nouveau Monde Graphite (NYSE: NMG; TSXV: NOU), a Canadian company developing advanced carbon-neutral graphite-based material solutions for the growing lithium-ion and fuel cell markets, today announced the launch of a proposed underwritten public offering of 7,000,000 of its common shares.

At today’s share price of C$13.5, the total proceeds of the offering are estimated to be approximately C$95 million (~US$78 million). Nouveau Monde said it also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the common shares sold pursuant to the offering.

The company has also announced that, shortly following the closing of the offering and after preliminary discussions with one of its current shareholders, it plans to complete a non-brokered private placement of a maximum of 1,750,000 common shares on the same terms as the offering.

The company said it expects the net proceeds of the offering and the private placement to be used towards the development of the Matawinie graphite mine project and LiB anode plant project and for general working capital and corporate expense needs.

Nouveau Monde is working towards developing a fully integrated source of green battery anode material in Québec, Canada. Targeting commercial operations by 2023, the company is developing advanced carbon-neutral graphite-based material solutions for the growing lithium-ion and fuel cell markets.

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