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Nouveau Monde Graphite Announces C$20 Million Financing
MONTREAL, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Nouveau Monde Graphite Inc. (“Nouveau Monde” or “the Corporation”) (TSXV: NOU; OTCQX: NMGRF; Frankfurt: NM9) is plea
About this update from Nouveau Monde Graphite Inc
[{"type":"text","content":" MONTREAL, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Nouveau Monde Graphite Inc. (“Nouveau Monde” or “the Corporation”) (TSXV: NOU; OTCQX: NMGRF; Frankfurt: NM9) is pleased to announce that it has entered into an agreement with BMO Capital Markets (“BMO”), under which BMO has agreed to buy on bought deal basis 10,345,000 common shares (the “Common Shares”), at a price of C$1.45 per Common Share (the “Offering Price”) for gross proceeds of approximately C$15 million (the “Public Offering”). The Corporation has granted the Underwriter an option, exercisable, in whole or in part, and from time to time, for a period of 30 days from and including the Closing Date (as defined herein), to purchase at the Offering Price up to an additional 1,551,750 Common Shares, representing 15.0% of the number of Common Shares issued pursuant to the Public Offering, order to cover for over-allotments, if any, and for market stabilization purposes. The Public Offering is expected to close on or about January 20, 2021 and is subject to Nouveau Monde receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the “TSX-V”). The Corporation is also pleased to announce that it is concurrently launching a non-brokered private placement for total gross proceeds of approximately C$5 million on the same terms as the Public Offering with institutional investors (the “Private Placement”). In addition, investors participating in the Private Placement will each have the option to purchase a number of additional Common Shares representing up to 15% of the number of Common Shares subscribed by each of them on closing. Any common shares issued pursuant to the Private Placement will be subject to a statutory hold period in Canada for a period of 4 months and one day. The Private Placement is expected to close in early February 2021 and will be subject to Nouveau Monde receiving all necessary regulatory approvals, including the approval of the TSX-V. Closing of the Private Placement and of the Public Offering are not conditional upon each other. The Pallinghurst Group which currently holds approximately 20% of the Corporation’s Common Shares has indicated that it intends to participate pro-rata its current ownership in both the Public Offering and the Private Placement. The net proceeds of the Public Offering and Private Placement will be ...