Nouveau Monde Graphite (NMG) confirmed the closing of its private placements from Canada Growth Fund Inc. (CGF) and Investissement Québec (IQ), totaling a gross aggregate amount of US$50 million. Each of CGF and IQ subscribed to 19,841,269 common shares at US$1.26 per share and 19,841,269 common share purchase warrants.
The warrants entitle the holder to acquire one common share at a price of US$2.38 from the Final Investment Decision (FID) date to five years from the closing. Proceeds from this private placement are designated to advance detailed and equipment-specific engineering, procure long-lead items, support Phase-2 critical-path activities, and cover general and administrative expenses, working capital, and financing costs.
Following the closing, CGF now owns or controls 19,841,269 common shares and 19,841,269 warrants, representing approximately 23.1% of issued and outstanding common shares on a partially diluted basis. IQ now holds 25,637,260 common shares, 19,841,269 warrants, and US$12,500,000 principal amount of notes, representing 28.89% on a partially diluted basis.
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