Nouveau Monde Graphite has completed a a US$87,500,000 private placement transaction whereby new anchor investors General Motors Co. (GM) and Panasonic Holdings Corporation, together with existing investors Mitsui & Co., Ltd. and Pallinghurst Bond Limited, acquired 43,750,000 common shares and 43,750,000 warrants in NMG. Concurrently with the private placement, GM and Panasonic Energy Co., Ltd., an affiliate of Panasonic Holdings Corporation, entered into offtake agreements with NMG to purchase 18,000 metric tons of active graphite anode material each per year over six to seven years.
The deal enables NMG to continue their plans to develop what is projected to be the first fully integrated source of natural graphite active anode material in North America at a time when vehicle producers, like GM, are developing more sustainable and resilient North American-focused EV supply chains.
Norton Rose Fulbright advised on all Canadian matters related to the private placement and all matters related to the offtake agreements. Norton Rose Fulbright’s team was led by Alison Babbitt; Geoffrey Gilbert; Brigitte LeBlanc-Lapointe, and included Brian Benford; Erin Brown; Paul Fitzgerald; Julia Godolphin; Jeff Kang; Tracey Kernahan; Steven Legault; Brandon MacDonald; Martin Masse; Solomon Sananes; Barry Segal; Hélène St-Louis; Ruth Wahl; Kyle Walton.
Dorsey & Whitney LLP, NMG’s existing U.S. counsel, acted concerning U.S. securities laws and U.S. regulatory matters.
Blake, Cassels & Graydon LLP acted as legal counsel to Mitsui.
Fasken Martineau DuMoulin LLP acted as legal counsel to Panasonic.
Osler, Hoskin & Harcourt LLP acted as legal counsel to GM.