- Reappointment of the Directors and adoption of all resolutions
submitted shareholders.
- Having a majority of its Phase-2 production reserved via
offtakes with Panasonic Energy and GM, active commercial engagement
with other tier-1 battery and EV manufacturers to formalize
long-term agreements on active anode material volumes and potential
equity investment.
- Strong footing for launch of construction once minimum
financing is reached; construction-ready Phase-2 sites, core owner
team assembled, and project execution strategy outlined.
- Project financing diligently advancing through engagement with
multiple governmental agencies and programs, strategic investors,
and lenders.
- Strong tailwinds supporting NMG’s development, including
geopolitics favoring North American sourcing of graphite battery
materials and continued growth in EV sales (Bloomberg, Rho Motion)
and energy storage markets (BloombergNEF).
Nouveau Monde Graphite Inc. (“NMG“ or the “Company”) (NYSE: NMG,
TSX.V: NOU) held today its virtual Annual General and Special
Meeting of Shareholders (the “Meeting”) which was supplemented with
a corporate presentation. NMG’s management team provided
shareholders with an update on the Company’s key projects,
agreements with Anchor Customers Panasonic Energy Co., Ltd.
(“Panasonic Energy”), a wholly owned subsidiary of Panasonic
Holdings Corporation (“Panasonic”) (TYO: 6752), and General Motors
Holdings LLC, a wholly owned subsidiary of General Motors Co.
(collectively, “GM”) (NYSE:GM), additional commercial engagement,
as well as growth plan.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240627856196/en/
Caterpillar, NMG and Toromont
representatives at Caterpillar’s Tuscon Mining Center as part of a
two-day on-site visit. (Photo: Business Wire)
Eric Desaulniers, Founder, President, and CEO of NMG, said:
“Foundational milestones attained since the beginning of the year
have enabled us to position NMG as a leading active anode material
producer with solid commercial partnerships and 100% ownership of
North America’s two largest and most advanced projected natural
graphite operations. Our team is now actively advancing engineering
to reflect our Anchor Customers’ product specifications and
defining execution plans to deliver on our Phase 2, the Matawinie
Mine and the Bécancour Battery Material Plant.”
Matters Voted upon at the Meeting and Results
Each of the eight nominees listed in the Company’s management
information circular dated May 21, 2024, provided in connection
with the Meeting were reappointed 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 Favor
% Votes in Favor
Votes Withheld
% Votes Withheld
Stephanie Anderson
44,178,608
99.78%
99,409
0.22%
Daniel Buron
44,172,257
99.76%
105,759
0.24%
Eric Desaulniers
44,137,201
99.68%
140,815
0.32%
Arne H Frandsen
44,100,938
99.60%
177,078
0.40%
Jürgen K�hler
44,046,203
99.48%
231,813
0.52%
Nathalie Pilon
44,181,060
99.78%
96,957
0.22%
James Scarlett
44,060,774
99.51%
217,242
0.49%
Andrew Willis
43,399,924
99.37%
278,092
0.63%
APPOINTMENT AND COMPENSATION OF PRICEWATERHOUSE COOPERS LLP AS
AUDITOR
Votes in Favor
% Votes in Favor
Votes Withheld
% Votes Withheld
48,025,453
99.86%
65,632
0.14%
RATIFICATION AND CONFIRMATION OF THE COMPANY’S STOCK OPTION
PLAN
Votes in Favor
% Votes in Favor
Votes Against
% Votes Against
43,390,421
98%
887,595
2%
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 NMG’s profile on SEDAR at www.sedarplus.ca
and on EDGAR at www.sec.gov.
Advancement of NMG’s Business Strategy
The Company is currently updating the results of the feasibility
study for its integrated ore-to-anode-material Phase 2 to reflect
the latest technological advancements, specific requirements from
Anchor Customers, budget optimization, and other project planning
developments. Outputs from this exercise will support project
financing as NMG continues discussions with multiple governmental
agencies and programs, strategic investors, and lenders in view of
the final investment decision (“FID”). Preliminary work on each
site provides a strong footing for launch of construction once
minimum financing is reached. The Company has assembled its core
owner team and has selected an integrated project team model to
ensure greater control over the project’s direction as well as
reduced project management and overall capital costs.
NMG is also reporting progress on the development of
zero-emission equipment for the Matawinie Mine thanks to strategic
agreements with Caterpillar Inc. (“Caterpillar”). Direct
involvement from respective technical and mining teams informs an
integrated solution tailored to the Matawinie site, covering the
fleet, charging infrastructure and operating site management.
The Company is actively engaging with other tier-1 potential
customers for offtake agreement(s) on the balance of its Phase-2
active anode material production accompanied by strategic
investments. In addition, the recent acquisition of the Uatnan
Mining Project, a key asset to underpin NMG’s Phase 3, provides a
scalable commercial profile aligned with the western market growth
set to reach nearly 2.7 TWh by the end of the decade (Benchmark
Mineral Intelligence, June 2024). Hence, the Company has initiated
the assessment of industrial sites for the establishment battery
material plants to refine this production, including in Québec,
Europe and the U.S., close to its potential customer base.
Geopolitics, with escalating tensions between the U.S. and China
on critical components of the energy transition, including
graphite, batteries and electric vehicles (“EVs”), have created
strong tailwinds for the Company over the past few months. China,
which controls over 95% of the global spherical graphite production
(Benchmark Mineral Intelligence, February 2024) has announced
restrictions on graphite exports, while the U.S. defined
limitations on battery components or critical minerals sourced from
China or Chinese-controlled companies, and announced the
reinstatement of tariffs on graphite from China.
These trade tensions amplify pressure on battery and EV
manufacturers for securing graphite, especially in a sustained
growth environment. Indeed, EV sales have grown 19% year-over-year
worldwide (Rho Motion, May 2024) while the energy storage market
almost tripled in 2023 (BloombergNEF, April 2024).
About Nouveau Monde Graphite
Nouveau Monde Graphite is an integrated company developing
responsible mining and advanced manufacturing operations to supply
the global economy with carbon-neutral active anode material to
power EV and renewable energy storage systems. The Company is
developing a fully integrated ore-to-battery-material source of
graphite-based active anode material in Québec, Canada. With
enviable ESG standards and structuring partnerships with anchor
customers, NMG is set to become a strategic supplier to the world’s
leading lithium-ion battery and EV manufacturers, providing
high-performing and reliable advanced materials while promoting
sustainability and supply chain traceability. www.NMG.com
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Cautionary Note
All statements, other than statements of historical fact,
contained in this press release including, but not limited to those
describing the update of the feasibility study for its Phase 2
reflecting the technological advancements, specific requirements of
the Anchor Customers, budget optimization, and other project
planning developments, to support project financing, and the
discussions with various governmental agencies, strategic
investors, and lenders, as well as the advantages of its project
execution model to ensure greater control over the project’s
direction and reduction project management and engineering costs,
the active discussions and positive outcome with other tier-1
potential customers for the balance of its Phase-2 active anode
material production, strategic investments and the potential of the
Phase 3 Uatnan project to meet the western market growth, the
assessment of industrial sites for the establishment of production
plants for such production, and the intended results of the
initiatives described in this press release 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” (collectively,
“forward-looking statements”) within the meaning of Canadian and
United States 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
current technological trends, the business relationship between the
Company and its stakeholders, the ability to operate in a safe and
effective manner, the timely delivery and installation at estimated
prices of the equipment supporting the production, assumed sale
prices for graphite concentrate, the accuracy of any Mineral
Resource estimates, future currency exchange rates and interest
rates, political and regulatory stability, prices of commodity and
production costs, the receipt of governmental, regulatory and third
party approvals, licenses and permits on favorable terms, sustained
labor stability, stability in financial and capital markets,
availability of equipment and critical supplies, spare parts and
consumables, the various tax assumptions, CAPEX and OPEX estimates,
all economic and operational projections relating to the project,
local infrastructures, 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 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
statements. Risk factors that could cause actual results or events
to differ materially from current expectations include, among
others, those risks, 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 favorable 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, including the
changes in China’s policy regarding restrictions on Chinese
graphite materials exportations, political and social acceptability
risk, environmental regulation risk, currency and exchange rate
risk, technological developments, and general economic conditions,
as well as earnings, capital expenditure, cash flow and capital
structure risks and general business risks. A further description
of risks and uncertainties can be found in NMG’s Annual Information
Form dated March 27, 2024, including in the section thereof
captioned “Risk Factors”, which is available on SEDAR at
www.sedarplus.ca and on EDGAR at www.sec.gov. 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.
The market and industry data contained in this press release is
based upon information from independent industry publications,
market research, analyst reports and surveys and other publicly
available sources. Although the Company believes these sources to
be generally reliable, market and industry data is subject to
interpretation and cannot be verified with complete certainty due
to limits on the availability and reliability of raw data, the
voluntary nature of the data-gathering process and other
limitations and uncertainties inherent in any survey. The Company
has not independently verified any of the data from third-party
sources referred to in this press release and accordingly, the
accuracy and completeness of such data is not guaranteed.
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 the Company is available in the
SEDAR database (www.sedarplus.ca), and for United States readers on
EDGAR (www.sec.gov), and on the Company’s website at:
www.NMG.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240627856196/en/
MEDIA Julie Paquet VP Communications & ESG Strategy
1-450-757-8905 #140 jpaquet@nmg.com
INVESTORS Marc Jasmin Director, Investor Relations
1-450-757-8905 #993 mjasmin@nmg.com
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