Nouveau Monde Graphite Closes $213M Private Placement
Nouveau Monde Graphite announces the closing of its previously announced private placement with Canada Growth Fund, the Government of Quebec via Investissement Quebec and ENI S.p.A., representing aggregate gross proceeds of approximately $213M. With the closing of the Private Placement and the release of the Offering proceeds, and on the basis of the previously announced senior project debt facilities of US$335 million commitment, NMG confirms the final investment decision, FID, for the Phase-2 Matawinie Mine. The Company intends to use the net proceeds from the Offering and the Private Placement, as well as the funds under the Facilities, when available, for: funding the design, engineering and construction of the Phase-2 Matawinie Mine; and general and administrative expenses and general working capital of the Company.