Nouveau Monde Graphite (NMG) and Panasonic have entered into two important agreements.
The binding offtake agreement covers the supply of a committed annual volume of 18,000 tonnes of active anode material by NMG to Panasonic Energy for an initial seven-year term from the commencement of the Company’s Phase-2 production. Through this offtake agreement, Panasonic Energy is set to leverage NMG’s fully integrated North American production, carbon neutrality profile, and proactive ESG practices for the establishment of a reliable, local, and responsible battery manufacturing value chain.
NMG and Panasonic also entered into a subscription agreement for an initial US $25 million equity investment in NMG. Panasonic has agreed to subscribe for 12,500,000 common shares in the capital of NMG and 12,500,000 common share purchases for aggregate proceeds of US $25 million. The initial US $25 million equity investment in NMG will support the advancement of NMG’s Phase-2 operations – the Matawinie Mine and the Bécancour Battery Material Plant – in line with Panasonic Energy’s specifications refined during the qualification process and technical collaboration.
A Fasken team composed of Frank Mariage, Jean-Philippe Côté, Marie-Pierre Boudreau, Jean-Philippe Therriault and William Harvey advised Panasonic Energy in connection with this transaction.
Jurisdiction
- Québec
