Shortly following the closing of the providing and after preliminary discussions with considered one of its present shareholders, Nouveau Monde additionally plans to finish a non-brokered non-public placement of a most of 1.75 million widespread shares on the identical phrases because the providing.
Altogether, the corporate is predicted to boost gross proceeds of roughly C$118.7 million ($97.6 million) from the general public providing and personal placement.
Internet proceeds could be used in the direction of the event of its Matawinie graphite property and Li-ion battery anode plant, in addition to for common working capital and company expense wants.
The corporate presently is working in the direction of creating a totally built-in supply of inexperienced battery anode materials in Québec, with business operations focused by 2023.
Shares of Nouveau Monde dropped 6.7% by midday Toronto time, giving the corporate a market capitalization of about C$469.5 million.