Nouveau Monde acquires Lac Gueret Property from Mason Resources

Nouveau Monde has entered into an asset purchase agreement with Mason Resources for the acquisition of the entire Lac Gueret Property, targeted for the development of the Uatnan Mining Project. The transaction strengthens the company’s long-term vision to be a dominant force in the supply of carbon-neutral anode material for the Western market. NMG‘s active commercial discussions with tier-1 battery and electric vehicle, or EV, manufacturers, including Panasonic Energy, a wholly owned subsidiary of Panasonic, confirm the strong projected demand by battery materials analysts for graphite. This acquisition of another major asset in Quebec, Canada, reinforces NMG’s fully vertically integrated production model in North America with the highest ESG standards of the industry, as validated by Benchmark Mineral Intelligence’s Sustainability Index. NMG has agreed to acquire 100% of Mason’s Lac Gueret Property, which consists among other things of 74 map-designated claims totaling 3,999.52 hectares. The consideration for the acquisition of the Lac Gueret Property is payable in 6,208,210 common shares of NMG, representing 9.25% of the pro forma issued and outstanding shares of NMG, to be issued to Mason upon the closing of the transaction. A subsequent payment of $5,000,000 will be made to Mason at the start of commercial production of the contemplated Uatnan Mining Project. 3,104,105 of the common shares of NMG to be issued in connection with the transaction will be subject to a lock-up for a period of 12 months and the remaining 3,104,105 common shares of NMG will be subject to a lock-up of 18 months. The shares of NMG will also be subject to a four-month hold period pursuant to Canadian securities laws. Closing of the transaction is expected to occur on or before January 31, 2024, and is subject to certain standard conditions, including the receipt of the final approval from the TSX Venture Exchange.