- Nouveau Monde is actively developing what is expected to be the Western World’s largest and most advanced project providing a localized and carbon-neutral alternative to Chinese supply of lithium-ion battery anode material
- Demonstration facilities support Nouveau Monde’s phased business plan and provide the samples required for qualification with potential customers
- Construction of the Matawinie mining project is set to commence and positions Nouveau Monde for an expected commercial production by the end of 2023
- Development of the Bécancour battery material plant aims at providing the value-added conversion facility that leverages the Company’s proprietary processes and green footprint
- Global trends for the electrification and clean energy transition are driving demand for natural graphite with a projected 410% growth through 2030
MONTREAL, June 29, 2021 (GLOBE NEWSWIRE) -- At today’s Annual General and Special Meeting of Shareholders (the “Meeting”), Nouveau Monde Graphite Inc. (“Nouveau Monde” or the “Company”) (NYSE: NMG, TSXV : NOU; Frankfurt : NM9A) presented an update on its projects and corporate development and obtained approval of all Meeting items. The Company is rigorously executing its phased business plan as it strives to become the Western World’s largest, and North America’s only, fully integrated lithium-ion battery anode material producer.
Arne H Frandsen, Chairman of Nouveau Monde, commented: “What a transformative year this has been! From securing the environmental authorization for the Matawinie mining project and commercial partnership with Olin for the Bécancour battery material plant, to strengthening our sustainability commitment and elevating our visibility on capital markets, the progress made is substantial in all aspects of the Company. We are continuing to demonstrate how our de-risked development plan can support a scaled growth to help meet the exponential demand in high-quality battery anode material.”
With a projected 410% growth through 2030 – the strongest growth of the key battery raw materials (Benchmark Mineral Intelligence, January 2021) – graphite is critical to support the global electrification and energy transition. Nouveau Monde has continued to make progress towards the development of its vertically integrated business model with the objective of beginning commercial production by the end of 2023, in time for the projected graphite demand/offer imbalance.
Eric Desaulniers, Founder, President and CEO of Nouveau Monde, added “Thanks to our Phase-1 production units for every step of our value chain, the foundation for our projects is now solidly in place to support the next phase of our development aimed at commercial production. The initial steps in the construction of the Matawinie mining project have begun with the first ore expected in Q4-2023 while the definitive feasibility study for our 45,000-tpa Bécancour battery material plant advances in parallel. Through our recent financing, we have rallied top-tier institutional investors to our unique business model anchored in sustainability and our long-term growth vision, thus providing us with the funds needed to support this continued development.”
At the Meeting, management presented its 12-month roadmap for this development:
- Production of fully-integrated anode material in its Phase 1 plant is scheduled for Q1-2022
- Intensification of qualification of battery anode material and negotiation of long-term cornerstone supply agreement with future customers
- Commence construction of the Phase 2 Matawinie Mine project in Saint-Michel-des-Saints
- Deliver a Definitive Feasibility Study for the Phase 2 Bécancour commercial anode material plant in the strategic location of Bécancour – land purchased and engineering advancing
- Seek to secure a complete financing package for the Phase 2 Matawinie Mine project – Government / export credit agency financing
- Advance strategy to establish a European anode material facility, close to EU customers
- Develop the blueprint for modular expansion to increase capacity to meet EV market demand
Matters Voted upon at the Meeting
The Company also announced today the results of voting at the Meeting. Each of the nine nominees listed in the Company’s management information circular dated May 20, 2021 provided in connection with the Meeting were elected as directors of the Company.
Shareholders also adopted all other resolutions submitted for their approval, including the appointment of PricewaterhouseCoopers LLP as the auditors of the Company to hold office until the close of the next annual meeting of the Company and the authority given to directors to set its compensation, and the ratification and confirmation of the stock option plan of the Company.
The complete voting results for each item of business are as follows:
ELECTION OF DIRECTORS
|Name of Nominee||Votes in Favour||% Votes in Favour||Votes Withheld||% Votes Withheld|
|Arne H Frandsen||15,911,616||99.38||%||98,853||0.62||%|
APPOINTMENT AND COMPENSATION OF AUDITORS
|Votes in Favour||% Votes in Favour||Votes Withheld||% Votes Withheld|
RATIFICATION AND CONFIRMATION OF THE COMPANY’S STOCK OPTION PLAN
|Votes in Favour||% Votes in Favour||Votes Against||% Votes Against|
Details of the voting results on all matters considered at the Meeting are available in the Company’s report of voting results, which is available under Nouveau Monde’s profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
About Nouveau Monde
Nouveau Monde is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully integrated source of green battery anode material in Québec, Canada. Targeting commercial operations by 2023, the Company is developing advanced carbon-neutral graphite-based material solutions for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable ESG standards, Nouveau Monde aspires to become a strategic supplier to the world’s leading battery and automobile manufacturers, providing high performing and reliable advanced materials while promoting sustainability and supply chain traceability.
|Julie Paquet |
VP Communications & ESG Strategy
|Christina Lalli |
Director, Investor Relations
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Cautionary Note Regarding Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to statements with respect to the intended results of the Company’s development plans, the timeline of the initiatives described in this press release, future market supply and demand, the benefits of the Company’s de-risking strategy, the elements of the Company’s 12-month roadmap of development, the positive impact of the foregoing on project economics, the intended results of the initiatives described above, , and those statements which are discussed under the “About Nouveau Monde” paragraph and elsewhere in the press release which essentially describe the Company’s outlook and objectives, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the timely delivery and installation of the equipment supporting the production, the Company’s business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.
Forward-looking information and statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking information and statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favourable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company’s assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company’s businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, the impacts of the global COVID-19 pandemic and the governments’ responses thereto, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information regarding Company is available in the SEDAR database (www.sedar.com) and on the Company’s website at: www.NouveauMonde.group
A chart accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1c735fbf-9bb3-44ee-a714-32c88f56bbc5
Natural graphite demand is expected to outstrip supply by 2023 – and continue beyond. Nouveau Monde Graphite Inc.