Mason Graphite Inc. (" Mason Graphite " or the " Company ") (TSX-V: LLG) (OTCQX: MGPHF) today announced that, following the board of directors' recommendation, Mason Graphite's shareholders approved the Proposed JV Transaction (as defined below) with Nouveau Monde Graphite Inc. (" Nouveau Monde ") (NYSE: NMG) (TSX-V: NOU) and the Proposed COB (as defined below) at the special meeting of shareholders held today in a hybrid format.
Each of the Proposed JV Transaction and the Proposed COB was approved by 99.0% of Mason Graphite's common shares represented in person (or virtually) or by proxy at the special meeting.
It is anticipated that the initial closing of the transactions contemplated under the investment agreement dated May 15, 2022 between the Company and Nouveau Monde (the " Investment Agreement "), including the execution of the OJV Agreement (as defined below) by Mason Graphite and Nouveau Monde and the private placement of 5.0 million common shares of the Company to Nouveau Monde at a price of $0.50 for gross proceeds to the Company of $2.5 million, will occur on or about July 20, 2022. A copy of the Investment Agreement is available under Mason Graphite's profile on SEDAR at www.sedar.com .
At the special meeting, Mason Graphite's shareholders approved, among other things, (i) the entering into by the Company of the option and joint venture agreement (the " OJV Agreement ") with Nouveau Monde pursuant to which (A) Mason Graphite will grant to Nouveau Monde a sole, exclusive, irrevocable and non-assignable option to acquire a fifty-one percent (51%) undivided co-ownership interest in the Lac Guéret property owned by the Company (the " Lac Guéret Property ") and other related assets (the " Option ") and, (B) upon the exercise of such Option by Nouveau Monde, form of a joint venture with Nouveau Monde to undertake exploration, development and mining activities at the Lac Guéret Property (the " Joint Venture ") (the granting of the Option and the formation of the Joint Venture being hereinafter referred to as the " Proposed JV Transaction "), and (ii) the change of business of the Company from a "Tier 2 mining issuer" to a "Tier 2 investment issuer" pursuant to Policy 5.2 – Changes of Business and Reverse Takeovers of the TSX Venture Exchange (the " Proposed COB ", and together with the Proposed JV Transaction, the " Proposed Transactions ").
Mason Graphite is a Canadian corporation focused on the production and transformation of natural graphite. Its strategy includes the development of value-added products, notably for green technologies like transport electrification. The Company also owns 100% of the rights to the Lac Guéret deposit, one of the richest graphite deposits in the world. The Company is also the largest shareholder of Black Swan Graphene Inc., a Canadian private company focusing on the large-scale production and commercialization of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymers, Li-ion batteries and others. For more information: www.masongraphite.com .
Nouveau Monde is striving to become a key contributor to the sustainable energy revolution. The company is working toward developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada, for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable environmental, social and governance (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. Nouveau Monde is listed on the NYSE under the symbol "NMG" and on the TSX Venture Exchange under the symbol "NOU".
Cautionary Statement Regarding Forward-Looking Information
Certain statements made in this news release are forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements with respect to the timing of the Special Meeting, and other statements that are not material facts. Often, but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology.
Although the Company believes that the forward-looking statements in this news release are based on information and assumptions that are current, reasonable and complete, these statements are by their nature subject to a number of factors that could cause actual results to differ materially from management's expectations and plans as set forth in such forward-looking statements, including, without limitation, the following factors, many of which are beyond the Company's control and the effects of which can be difficult to predict: (i) the risks related to the approval of the Proposed Transactions by the TSX Venture Exchange and other risks related to the satisfaction of the conditions to closing the Proposed Transactions, (ii) general risks related to the completion of the Proposed Transactions, (iii) the risks related to the formation of a joint venture, such as the Joint Venture with Nouveau Monde, (iv) volatile stock price; (v) the general global markets and economic conditions; (vi) the possibility of write-downs and impairments; (vii) the risk associated with exploration, development and operations of mineral deposits; (viii) the risk associated with establishing title to mineral properties and assets; (ix) the risks associated with entering into joint ventures; (x) fluctuations in commodity prices; (xi) the risks associated with uninsurable risks arising during the course of exploration, development and production; (xii) competition faced by the Joint Venture in securing experienced personnel and financing; (xiii) access to adequate infrastructure to support mining, processing, development and exploration activities; (xiv) the risks associated with changes in the mining regulatory regime governing the Joint Venture; (xv) the risks associated with the various environmental regulations the Joint Venture is subject to; (xvi) risks related to regulatory and permitting delays; (xvii) risks related to potential conflicts of interest; (xviii) the reliance on key personnel; (xix) liquidity risks; (xx) the risk of potential dilution through the issuance of common shares; (xxi) the companies do not anticipate declaring dividends in the near term; (xxii) the risk of litigation; and (xxiii) risk management. There can be no assurance that forward-looking information will prove to be accurate.
Readers are cautioned not to place undue reliance on the forward-looking statements and information contained in this news release. Mason Graphite disclaims any obligation to update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.
Neither 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.
Mason Graphite Inc. Paul Hardy, VP Corporate Development 1-416-844-7365 ext. 3030, phardy@masongraphite.com
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Battery Mineral Resources Corp. (TSXV: BMR) ("BMR" "Battery" or the "Company") is very pleased to provide a broad corporate update on its recent accomplishments in Chile as it moves its Punitaqui mine complex towards a production restart. The Punitaqui mine and mill have been on continuous care and maintenance since April 2020, when copper prices as low as $2.00 per pound forced the previous operators to cease operations.
Drilling and Updated 43-101 Resource Estimates The Phase 1 drill program at the Punitaqui Mining complex was completed in May and all assays have now been received and reported. The final tally for the Phase 1 program totalled nearly 33,000 meters ("m") of diamond drilling focusing on three zones: San Andres, Dalmacia and Cinabrio Norte. The results of these drilling campaigns will be combined with historical drilling and resource estimates will be calculated and reported. In addition, the current remaining resources for the Cinabrio mine, which fed the Punitaqui copper processing plant for eight-plus years, will be included in the report.
The Company's management are very excited with the results of the Phase 1 program for several reasons, as follows:
Figure 1: Punitaqui Project Tenement Holdings, Resource Targets & Plant Location Map
To view an enhanced version of Figure 1, please visit: https://images.newsfilecorp.com/files/6076/130679_c021bacc14250aba_002full.jpg
JDS Energy and Mining, Inc. are working to complete the updated NI 43-101 resource estimate at the Punitaqui mining complex since receiving all final assays from the Phase 1 drill program. An NI 43-101 resource is to be received in the next three to four weeks.
Punitaqui Mill Maintenance Audit The Punitaqui mill is a standard crush, grind and flotation mill rated for processing of up to 3,600 tonnes per day, which was improved upon and optimized by Glencore Plc during the approximately 8 years that they operated the mill. As part of the planned restart of production, the Company recently engaged a third-party firm to conduct a full maintenance audit of the Punitaqui mill to assess its readiness to recommence processing ore and producing copper concentrate. The audit scope included all mechanical, electrical and instrumentation items. This included inspection of all pumps, motors, conveyor belts, primary, secondary, and tertiary crushers, ball mills, liners, flotation cells, concentrate filters, tailings thickeners, cranes and hoists, electrical supply and water supply.
The results of the audit confirmed that the budgeted cost estimate, which was based on operating and maintenance records, was accurate and no new major repairs or replacements are required. Finally, the audit confirmed that the Punitaqui mill is in good working condition to restart production after the planned maintenance program concludes, which is expected later this year.
Metallurgical Study on Processing of Punitaqui Ores Although the Punitaqui copper processing plant successfully operated for nearly a decade, the company elected to undertake a comprehensive metallurgical test program on each potential different ore types from the Punitaqui mining complex including material from two zones at the Cinabrio mine (M1 & M2), the Cinabrio Norte, San Andres, and Dalmacia zones. The samples were shipped to the SGS Laboratory in Lakefield, Ontario, where a full flotation program was conducted. SGS Lakefield is a recognized global leader in mineral processing and recovery and their work was overseen by BMR metallurgical consultant Dr. Joseph Ferron. The goal of this study was to minimize any potential start-up risk and maximize metal recoveries and copper concentrate quality.
As previously announced in our June 9th press release, metallurgical studies confirmed that the combined copper concentrate to be produced from the four main deposits (Cinabrio, Cinabrio Norte, Dalmacia and San Andres) is commercially marketable and the company has received strong interest from several concentrate off-takers. Moreover, the testing demonstrated the combined future sources of ore to the Punitaqui mill demonstrate an average of overall 84% copper recovery - a 5% higher recovery than historically realised at Punitaqui by prior operators. Additionally, we are working to refine and improve upon these initial very positive results.
The Punitaqui samples were prepared and submitted for complete chemical and mineralogical analyses. In addition, the sample hardness was measured using the Bond work index procedure (BWI). Most relevant results are presented in the following Table #1.
Table #1 - Chemical & Mineralogical Results of Punitaqui Feed Material
To view an enhanced version of Table #1, please visit: https://images.newsfilecorp.com/files/6076/130679_c021bacc14250aba_003full.jpg
The flotation program included: rougher kinetics tests, open circuit cleaner tests and locked cycle tests. The main parameters examined were copper and precious metals recovery, fineness of primary grind, use of regrind and circuit configuration. The results of the locked cycle tests are presented in the following Table #2.
Table #2 - Concentrate Recoveries & Grades by Zone
To view an enhanced version of Table #2, please visit: https://images.newsfilecorp.com/files/6076/130679_c021bacc14250aba_004full.jpg
The flotation circuit used during these locked cycle tests incorporated a regrind of the entire rougher concentrate, and an open circuit first cleaner stage. Results clearly indicated that the copper recovery was directly related to the percent liberation of the copper sulphides. Copper concentrate grades for all five ore types were squarely in ranges which are marketable (ranging from 21.6% up to 31.5%). Representative copper concentrates produced from each ore sample were submitted to standard smelter analysis. Significant results are presented in Table 3.
Table #3 - Punitaqui Copper Concentrate Chemical Analysis
To view an enhanced version of Table #3, please visit: https://images.newsfilecorp.com/files/6076/130679_c021bacc14250aba_005full.jpg
Final Punitaqui Permitting The permitting process which is a combination of modifying and combining existing environmental and operating permits is progressing in lockstep with the goal restarting the Punitaqui copper mine complex. Permits for operation of the Punitaqui mill, tailings deposition and re-starting underground mine development have already been approved by the regulators.
After resources are updated, mine designs are modified and the remainder of the capital required for recommencing operations is secured, Cinabrio will be the first area to be mined, to be followed soon after by a sequence that brings in mining at San Andres, Cinabrio Norte and Dalmacia.
To recommence underground mining of ore at Cinabrio and San Andres, BMR submitted a simplified environmental impact study (DIA) for the Cinabrio mine and San Andres zone in December 2021 as requested by the authorities. After reviewing the DIA study, regulators are afforded two rounds of comments/questions for clarification. BMR is in the process of preparing the answers to the second and final round of comments sent by the regulatory authorities. These will be filed on July 15th, with final approval expected within 60 days.
Local Community Engagement Battery Mineral Resources is committed to a strong focus of continuous improvement on community relations by proactively engaging with our local communities and especially with the residents of the town of Punitaqui. Earlier this year, BMR engaged the services of consulting firm Integratio Mediação Social e Sustentabilidade ("Integratio"). Integratio is a socio-environmental management, strategic relationship, and stakeholder engagement consultant group operating for over 17 years and based in Belo Horizonte, Brazil. Integratio has recently delivered a report to BMR with community assessment and stakeholder mapping that also highlights the main issues to be focused on in our community relations and social license program and provides the framework for a wholistic and proactive approach to social engagement. As a next step to the responses received in the report, BMR plans to initiate a social management and engagement plan that considers the entire relationship and communication of the company within the area, including the establishment of a social investment program, which will allow direct communication with the entities and population in the area of influence of our Punitaqui mine complex. This program is now being prepared, reviewed and should be implemented by the end of the month. We look forward to continuing to engage in a proactive and positive manner with all our stakeholders and local communities.
About Battery Mineral Resources Corp. Battery Mineral Resources ("BMR") is a battery mineral company focused on growth through cash-flow, exploration, and acquisitions in favourable mining jurisdictions. BMR is currently developing the Punitaqui Mining Complex, a past copper-gold producer, in the Coquimbo region of Chile and pursuing a potential near-term resumption of operations in late 2022. Battery Mineral's mission is the discovery, acquisition, and development of battery metals (namely cobalt, lithium, graphite, nickel, and copper), in North America, South America and South Korea, to become a premier and responsible supplier of battery minerals to the electrification marketplace. BMR is the largest mineral claim holder in the historic Gowganda Cobalt- Silver Camp in Ontario, Canada, and continues to pursue a focused program to build on the recently announced, +1-million-pound high-grade cobalt resource at McAra. In addition, Battery Mineral owns 100% of ESI Energy Services, Inc. a profitable pipeline equipment rental and sales company with operations in Alberta, Canada and Arizona, USA. Battery Minerals Resources is based in Canada and its shares are listed on the Toronto Venture Exchange under the symbol "BMR" and on the OTCQB under the symbol "BTRMF". Further information about BMR and its projects can be found on www.bmrcorp.com
For more information, please contact: Martin Kostuik, CEO Phone: +1 (604) 229 3830 info@bmrcorp.com
Mars Investor Relations +1 (604) 335-1976 bmr@marsinvestorrelations.com
Harbor Access Corp. 475-477-9402 jody.kane@harbor-access.com Twitter: @BMRcorp_ www.bmrcorp.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Statements This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of the Company on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain sufficient financing to complete exploration and development activities, the ability of the Company to complete the Debenture offering, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the ability of the Company to meet its anticipated development schedule, government regulation and fluctuating metal prices. Accordingly, readers should not place undue reliance on forward-looking statements. Battery undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein, whether because of new information or future events or otherwise, except as may be required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130679
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This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated January 21, 2022, to its short form base shelf prospectus dated May 19, 2021, as amended by amendment no. 1 dated January 19, 2022.
Developing a local, carbon-neutral and traceable turnkey supply of advanced materials for the Western World, Nouveau Monde Graphite Inc. ("NMG", "Nouveau Monde" or the "Company") ( NYSE: NMG , TSXV: NOU ) releases the results of its feasibility study (the "Study") completed in accordance with the National Instrument 43-101 ("NI 43-101") for its integrated business operation comprised of the Phase-2 Matawinie Mine and Bécancour Battery Material Plant projects. The Study, conducted by engineering firm BBA Inc. ("BBA") with the support of various technical consultants, has demonstrated strong economics for NMG's model as the battery and electric vehicle ("EV") manufacturers seek alternatives for sourcing their graphite-based solutions amidst growing demand and projected structural deficit of production in the next decade. The Company is ideally positioned to cater to the North American and European markets with its large graphite deposit, proprietary ecotechnologies, demonstrated production capacity thanks to its Phase-1 operations, as well as preferential jurisdiction advantages including clean hydropower, flexible logistical base and stable fiscal and political environment.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220706005291/en/
Rendering of NMG's future Matawinie Mine. (Photo: Business Wire)
Updating resources and reserves, operational, and financial metrics of the Matawinie Mine 2018 bankable feasibility study (effective as of July 10, 2018 and issued on December 10, 2018), the Study also layered the production and economics structure of the Bécancour Battery Material Plant, the process and engineering optimizations generated in recent months, the latest market pricing as per Benchmark Mineral Intelligence's assessment, as well as capital expenditures ("CAPEX") and operating expenses ("OPEX") profile amidst current economic conditions. These combined parameters for a projected annual average production of 103,328 tonnes per annum ("tpa") of high-purity flake graphite concentrate at the Matawinie Mine and 42,616 tpa of anode material plus 3,007 tpa of purified jumbo flakes at the Bécancour Battery Material Plant, using a portion of Matawinie's production as feedstock, indicate an after-tax net present value ("NPV") of C$ 1,581 million and internal rate of return ("IRR") of 21%.
Arne H Frandsen, Chair of NMG, said: "Market trends have accelerated in past months and while inflation and logistics turbulences present a more challenging environment, we have demonstrated our graphite expertise, advanced manufacturing capacity and complex project management skills to execute our vision of an integrated green anode material production. The successful upstream integration is designed to ensure that we have access to high-quality, responsible feedstock for decades to come, and provides battery and EV manufacturers with the assurance of a traceable, local, and carbon-neutral supply. "
Table 1: Economic highlights of NMG's integrated Phase-2 graphite operations.
Bécancour Battery Material Plant
42,616 tonnes of anode material 3,007 tonnes of purified jumbo flakes 18,384 tonnes of by-product fines
Life of mine ("LOM")
CAPEX and OPEX were established from test work results, Phase-1 operations, supplier quotations and consultant's in-house databases. Estimates being currently at the market's peak as influenced by inflationary trends, NMG and its consulting firms have refined design, engineering, and construction parameters to enable cost optimization and competitive pricing of NMG's production. Québec's affordable clean hydropower underpins the Company's technologies, economics structure and carbon-neutrality commitment.
NMG's integrated business model, with a secured feedstock, close-by operations at the western market's doorstep and operational flexibility to adapt production based on demand, represents a stable and cost-effective structure in today's everchanging macroeconomics.
Eric Desaulniers, Founder, President, and CEO of NMG, commented: "We have come a long way from our initial Matawinie Mine project to develop an integrated operation tailored to the market's technical requirements and sourcing strategy. NMG is positioning itself as North America's largest, fully integrated natural graphite production to relieve battery and EV manufacturers from their overreliance on Chinese production. With attractive economics, strong ESG credentials, demonstrated execution capacity, and high-purity advanced materials, we are set to provide a turnkey large-scale solution for the booming local battery value chain. Our significant forecasted incremental annual operating profit potential is a testimony that it is possible to embrace sustainable development and profitability to the benefit of all stakeholders."
The integrated material flowsheet developed by NMG is designed to leverage the distribution of graphite concentrate flake sizes to be produced at the Phase-2 Matawinie Mine by catering to the most profitable market segments. Jumbo to coarse flakes will be destined to high-purity, high-margin specialty and traditional markets at a LOM average price of C$ 2,135 per tonne. While fine to intermediate flakes will be transformed into coated spherical purified graphite ("CSPG") at the Phase-2 Bécancour Battery Material Plant for sales as anode material for lithium-ion battery applications at a LOM average price of C$ 11,540 per tonne. A portion of jumbo flakes will also undergo refinement at the Bécancour Battery Material Plant to produce purified jumbo flakes for niche applications such as heat dissipators in 5G technologies and bipolar plates in hydrogen fuel cells. By-products from this facility will also be sold to optimize the Bécancour basket price.
Selling prices were calculated using forecasts provided by Benchmark Mineral Intelligence, an IOSCO-regulated price reporting agency and market intelligence publisher for the lithium-ion battery to EV supply chain. They were estimated for the North American market where the Company is expected to have competitive advantages over international producers, namely its carbon-neutral footprint, multimodal logistical base, stable political jurisdiction and exclusion from U.S. import tariffs on graphite.
Pressure caused by gigafactories development across the world, limited production capacity impacted by Chinese pandemic measures and turbulent logistics is reflected in the year-over-year flake graphite price increase of 37% (Benchmark Mineral Intelligence, May 2022). The global lithium-ion battery production capacity pipeline to 2031 now reaches 6,660 GWh, driving associated projections for graphite demand to 7,993,000 tpa, the largest of all battery metals.
The mining property (the "Mining Property" or the "Tony Block") presently consists of 159 contiguous map-designated claims totalling 8,266.42 hectares ("ha") wholly owned (100%) by NMG. The Matawinie Mine project lies within the municipality of Saint-Michel-des-Saints, Québec, Canada, approximately 120 km as the crow flies north of Montréal.
Exploration work on the Mining Property targeted graphite mineralization and consists to date of airborne geophysics, prospecting, ground TDEM surveying, trenching/channel sampling and core drilling. Surface and core samples were also collected for metallurgical and geomechanical tests. Exploration work uncovered significant crystalline flake graphite mineralization ultimately leading to the identification of Mineral Resources and Reserves.
Mineral Resources have been estimated for the West Zone of the Mining Property. These Mineral Resources are based on 8,274 assay intervals collected from 27,888.24 m of core drilling and three (3) surface trenches providing 207 channel samples. Proper quality control measures, including the insertion of duplicate, blank and standard samples, were used throughout the exploration programs and returned within acceptable limits.
Table 2: Current Pit-Constrained Mineral Resource Estimate for the West Zone 1
A combined Mineral Resource of the South-East and South-West zones is also present on the Mining Property . While these deposits are part of the Property, they have not been studied to be integrated in the Mineral Reserves or the mine plan.
The table below presents the Mineral Reserves which have been estimated for the West Zone of the Matawinie Deposit.
Table 3: Matawinie Mineral Reserves for the West Zone
The Qualified Person for the Mineral Reserve Estimate is Jeffrey Cassoff, P.Eng., of BBA Inc.
The effective date of the estimate is July 6, 2022.
Mineral Reserves were estimated using a graphite concentrate average selling price of C$2,135/tonne, and consider a 2% royalty, and selling costs of C$47.92/tonne. An average grade of 97% was considered for the graphite concentrate.
A metallurgical recovery of 93% was used.
A cut-off grade of 2.20% Cg was used.
The strip ratio for the open pit is 1.16 to 1.
The Mineral Reserves are inclusive of mining dilution and ore loss.
The reference point for the Mineral Reserves is the primary crusher.
Totals may not add due to rounding.
The Matawinie Mine will leverage the West Zone deposit with an average production of 103,328 tpa of high-purity graphite concentrate over the LOM. The project demonstrates exceptional potential due to its significant high-purity Mineral Reserves and low-cost operational model, coupled with a skilled workforce, high-quality infrastructure, including paved roads and hydroelectricity, as well as the dynamic regional business ecosystem.
The deposit will be mined using conventional open-pit mining methods consisting of drilling, blasting, loading, and hauling. Estimation of the Mineral Reserves included pit optimization, pit design, mine scheduling, and the application of modifying factors to the Measured and Indicated Mineral Resources. To maximize the NPV, mining phases have been designed and incorporated into the mining sequence to defer waste rock stripping and provide a balanced blended feed grade for the concentrator over the LOM. The mine plan is successful at achieving the targeted concentrate production with a strip ratio of 1.16:1 and an average grade of 4.23% Cg over the 25‑year LOM.
A concentrator will be built adjacent to the pit. The concentrator was designed based on the results from the metallurgical testing at NMG's Phase-1 mineral processing facility plant and at external labs. Through crushing, milling, flotation, cleaning, and drying, the ore is concentrated to attain 97% Cg and classified per flake size. Water recycling is maximized throughout the process.
Table 4: Graphite Concentrate Size Fraction Proportion
Graphite Concentrate Flakes Size Fraction
Tailings produced by the concentrator will be separated into non-acid generating ("NAG") and potentially‑acid generating ("PAG") for co-disposal with waste rock. A co‑deposition storage facility will be located at surface and as of Year 8, tailings will be returned to the pit using the co-disposal system. The deposit will be mined from south to north to ensure adequate space is available for in‑pit backfilling. See Environmental Design & Carbon Neutrality Commitment section for additional information.
As part of its electrification strategy, NMG is committed to having both heavy equipment used for mining operations and ore concentration and processing activities become fully electric within the first five years of production. NMG's electrification plan is not presented in this Study as active planning and development are ongoing with Caterpillar Inc., which is expected to supply the equipment using their Job Site Solution service model. With this model, NMG would pay for machine use on an hourly basis which includes machine supply and maintenance (parts and service) and a fleet management system. Electrical trucks and equipment would be introduced into the mining fleet as they become available. Projected to be the world's first all-electric open-pit mine, the Matawinie Mine could reduce CO 2 emissions by over 300,000 tonnes over the mine's lifespan.
Table 5: Operational and Economic Highlights of the Matawinie Mine
Average annual graphite concentrate production (LOM)
OPEX cost per tonne of graphite concentrate
Matawinie average basket price (LOM)
All governmental permits and municipal authorizations pertaining to exploration, geotechnical, hydrogeological, and early preparatory works to date have been obtained. The ministerial decree authorizing the Matawinie Mine (Decree # 47-2021) was granted by the Québec Government on January 20, 2021; the latest operational parameters will be presented to governmental authorities for adjustment.
Early works for the Matawinie Mine started in Q2-2021 with activities related to tree clearing, construction of the nearly 8-km access road, preparation of the industrial pad, and civil works for environmental infrastructure.
In striving to limit potential impacts and plan beyond the LOM, the Company has developed the Matawinie Mine with environmental and social considerations at the forefront. NMG has and continues to actively engage with the local community and the Atikamekw First Nation. NMG has signed a collaboration and benefit-sharing agreement with the Municipality of Saint-Michel-des-Saints (2020) as well as a framework agreement (2018) and a pre-development agreement (2019) with the Atikamekw First Nation. The Company is actively progressing towards the elaboration of the impact and benefit agreement with the Atikamekw First Nation for the Phase-2 Matawinie Mine to maximize opportunities for Indigenous workers, contractors, and the community.
Bécancour Battery Material Plant
NMG's advanced manufacturing operations will be regrouped at its Phase-2 Bécancour Battery Material Plant located in Bécancour, Québec, approximately 150 km northeast of Montréal, on the Saint Lawrence River. The robust local infrastructure provides the Company with a direct supply of required chemicals in addition to affordable hydroelectricity, a skilled workforce, and a multi-modal logistical base that includes a major international port in proximity to U.S. and European markets. Bécancour is rapidly attracting important industrial players in the battery materials and cell manufacturing space, supported by the Québec Government's battery hub strategy. Twenty industrial and commercial projects are planned or under study, including BASF, GM-Posco, Vale and Nemaska Lithium.
In 2021, NMG purchased a 200,000-m² land in the Bécancour industrial park , adjacent to its chlorine supplier's facility – Olin Corporation, to build its integrated manufacturing facility of anode material for lithium-ion batteries. The property presents no environmental limitations for construction. It offers all necessary infrastructure to have a safe and direct pipeline of chemical supply from Olin as well as quick access to rail, port, and road for both importing raw materials and exporting final products throughout North America and Europe.
Regrouping onsite all beneficiation units, the Bécancour Battery Material Plant is designed to receive approximately 63,775 tpa of graphite concentrate from the Matawinie Mine to be transformed into 42,616 tpa of CSPG, 3,007 tpa of purified flakes and 18,384 tpa of by-product fines, a valuable graphite material.
For CSPG production, the finest flake size fraction graphite concentrate will undergo micronization and spheronization ("shaping"), purification and coating. A portion of the jumbo flake production from the Matawinie Mine will be treated onsite through purification only to produce purified jumbo flakes.
The shaping process, essentially a mechanical transformation, reduces the flake size (micronization) to D 50 of approximately 10 to 20 microns and rounds graphite material (spheronization) to increase the density of the spherical graphite for battery use. Shaping will also generate by-product fines to be sold as carbon riser.
NMG's proprietary carbochlorination purification process elevates graphite materials to ≥99.95% Cg while respecting purity specifications of end-users. The carbochlorination process involves the injection of chlorine gas into furnaces at high temperatures to remove impurities contained in the graphite. Leveraging Québec's abundant, clean, and affordable hydropower, the Company's technology avoids using hydrofluoric acid in favor of high temperatures and the addition of chlor-based reagent, hence providing a greener and more sustainable alternative to that currently used in traditional anode material production. Production at NMG's Phase-1 purification facility has demonstrated the performance of this ecotechnology with large-scale samples produced at 99.99% purity . Piloting is ongoing and set to continue over H2-2022 to finalize the scope of the purification sector of the plant.
The ultimate beneficiation step, coating is instrumental to battery technology. By applying a nanometric layer of amorphous carbon on the surface of spheronized purified graphite, coating helps create a stable electrolyte interface layer in the battery system and increase initial coulombic efficiency and discharge capacity, thus extending the battery performance over time. NMG's coating technology is projected to reduce the energy consumption of this process up to 25% compared to the dominant manufacturing operations, with a minimal environmental footprint thanks to the Company's access to clean hydropower and its strong ESG operational parameters. The module built at NMG's Phase-1 plant will be replicated and scaled up for the Phase-2 Bécancour Battery Material Plant. The technology provides versatility for the use of different precursors as research and development ("R&D") advances.
Piloting of all Phase-1 battery material modules is ongoing to produce large samples for battery manufacturers in order to accelerate the commercial qualification of the battery-grade commercial products.
Table 6: Operational and Economic Highlights of the Bécancour Battery Material Plant
Annual purified jumbo flake production
OPEX cost per tonne of CSPG throughput 1
Bécancour average basket price
The Bécancour Battery Material Plant will be organized by process sectors, with dedicated facilities for shaping, purification, and coating, plus support services. This modular facility is designed with a capacity to expand as demand increases in battery and specialty markets.
Environmental Design & Carbon Neutrality Commitment
NMG intends to develop a world-class operation at its Phase-2 Matawinie Mine and Bécancour Battery Material Plant through the strategic integration of some of the industry's latest technological innovations and best practices to reduce greenhouse gas ("GHG") emissions and minimize environmental impacts.
For the Matawinie Mine, active stakeholder engagement and an environmental and social impact assessment ("ESIA") were conducted to guide the project's development, underpinned by sustainability principles. Complete inventories of fauna, flora, water, soils, and wetlands were carried out along with modelling of all project parameters to optimize the mine development by reducing the project's footprint, avoiding sensitive habitats and integrating mitigation measures for water preservation, vulnerable species, habitats, soils and ecosystems.
NMG incorporated forward‑looking environmental initiatives to limit the Matawinie Mine's potential impact on the natural and human milieu:
As per Québec's and Canada's stringent environmental framework, NMG must comply with robust regulatory requirements regarding the quality of the environment, social and environmental monitoring, reporting, and permitting for different phases of construction, mining operations, and closure.
A Monitoring Committee, previously operating as NMG's Accompanying Committee since 2017, is in place and functions as both a consultative body as well as a platform for environmental and social surveillance of NMG's operations.
For the future Phase-2 Bécancour Battery Material Plant, NMG completed an environmental baseline study of the 200,000-m 2 land located within the industrial park. Results suggest the absence of soil and water contamination as well as no plant species threatened, vulnerable or likely to be designated so. As NMG advances the development of its project, feedback from local stakeholders will be important to ensure an inclusive and respectful diversification of the local and regional economy.
NMG is designing a mining and advanced manufacturing operation aligned with global decarbonization efforts. In 2021, NMG laid the foundation for its climate strategy first by tracking its historical emissions from the initial phases of its mining exploration and offsetting this carbon footprint. Through its Climate Action Plan released in February 2022, NMG has committed to prevent, reduce, and fully compensate its GHG emissions as the Company develops, adopts renewable energy sources, electrifies its operations, and transitions from carbon neutrality to a Net Zero footprint by 2030. Striving to put reductions at the foundation of its strategy, several reduction projects have been selected for the Company's largest emitting sources. This should result in significant emissions reductions as Phase-2 activities are implemented.
In addition to GHG reduction opportunities, NMG has launched R&D projects to continually improve its carbon footprint. Furthermore, the Company has developed an offset strategy for the remaining emissions to provide assurance to its customers of carbon-neutral products at every stage of its production development. The strategy includes commitments to transition to sequestration credits, the development of a Company's portfolio of offsetting projects, partnerships with local communities, industrial synergies, and investments in developing countries. This approach is aimed at ensuring a swift transition to Net Zero while limiting the financial risk associated with the carbon credit market.
Next Steps and Quality Assurance
This Study shows that the projects are technically feasible as well as economically viable. It further strengthens ongoing project finance efforts and active commercial discussions with a view towards securing an anchor customer agreement with potential financial participation. From the final investment decision, NMG's Phase-2 Matawinie Mine and Bécancour Battery Material Plant could be built within an approximate 30-month schedule.
Shareholders and analysts are invited to attend a webcast Investor Briefing this morning, Wednesday, July 6, 2022, at 10:30 a.m. ET. Hosted by President and CEO Eric Desaulniers with the participation of NMG's Management Team, the briefing will entail a technical presentation followed by a question-and-answer session. Registration should be completed prior to the start of the briefing at: https://us06web.zoom.us/webinar/register/WN_XA0uyzAQTBiPinZmx3pvuA .
There is no certainty that the economic forecasts on which this Study is based will be realized. There are a number of risks and uncertainties identifiable to any new project and usually cover the mineralization, process, financial, environment and permitting aspects. NMG's Phase 2 is no different and an evaluation of the possible risks was undertaken as part of the Study.
Following an analysis of the major risks to the project, a P50 management risk reserve of C$ 150 million is recommended. The top risks are: (1) Firstly, uncertainty on the duration of the purification cycle time, which could lead to additional furnaces being required. The piloting program is underway to finalize the engineering design parameters of the purification sector during H2-2022. (2) Secondly, the availability of construction workforce in the current labor market coupled with equipment delivery uncertainties associated with COVID-19 repercussions; these conditions could increase the cost of equipment and materials, and cause construction delays. (3) Thirdly, studies and simulations are underway to finalize the scope and design of the atmospheric emission outlets' dimension and configuration for the different equipment, particularly dedusting, to ensure regulatory requirements are met. This reserve is not included in the capital cost estimate but is within the range of the financial sensitivity analysis of the capital cost.
Scientific and technical information presented in this press release was reviewed and approved by André Allaire, P.Eng. (BBA), Yann Camus, P.Eng. (SGS Geological Services) and Jeffrey Cassoff, P.Eng. (BBA), Qualified Persons as defined under NI 43-101.
The Study for the Matawinie Mine and Bécancour Battery Material projects prepared in accordance with NI 43-101 and will be filed on SEDAR at www.sedar.com , EDGAR at www.sec.gov and on the Company's website at www.NMG.com within 45 days of this press release. Readers are encouraged to read the Study in its entirety, including all qualifications, assumptions and exclusions that relate to the details summarized in this press release. The Study is intended to be read as a whole, and sections should not be read or relied upon out of context.
Nouveau Monde Graphite is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable ESG standards, NMG 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. www.NMG.com
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All statements, other than statements of historical fact, contained in this press release including, but not limited to those describing the impact of the foregoing on the project economics, Study results (as such results are set out in the various tables featured above, and are commented in the text of this press release), including CAPEX, OPEX, NPV and IRR, the estimated value of the Matawinie Mine and Bécancour Battery Material Plant projects, the planned open-pit and advanced manufacturing operations development scenarios for the Matawinie Mine and Bécancour Battery Material Plant projects, high-purity flakes and advanced graphite materials price estimates, the attractive economics, robust operational parameters and low-cost operational model for the Matawinie Mine and Bécancour Battery Material Plant projects, the recommended risk reserve, LOM plans, the Company's intended marketing strategy, the Company's expected competitive advantages, the projected annual average input and production of the Company's Phase-2 operations, the expected electrification strategy and its intended results and benefits, including those related to the mine emissions, the potential results and benefits of the Company's proprietary technologies, including the potential reduction in energy consumption, the timelines and costs related to the various initiatives, deliverables and milestones described in this press release and their expected results, the Company's expected financial and operational performance, the nature of relationships with stakeholders such as local community and the Atikamekw First Nation, future demand for batteries and EVs, the objective of developing the largest fully integrated natural graphite operation in North America and the world's first all-electric open-pit mine, the production of carbon-neutral anode material, Mineral Resource and Mineral Reserve estimates (including assumptions and estimates used in preparing the Mineral Resource and Mineral Reserve estimates), the general business and operational outlook of the Company, the Company's future growth and business prospects, the Company's ESG commitments, initiatives and goals, 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 sales prices for high-purity flakes and advanced graphite materials , the accuracy of any Mineral Reserve and 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, the capital cost estimates, the Matawinie Mine and Bécancour Battery Material Plant projects permits' status, all economic and operational projections relating to the Matawinie Mine and Bécancour Battery Material Plant projects, 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 which are discussed under the "Next steps and Quality Assurance" paragraph, 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, 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. A further description of risks and uncertainties can be found in NMG's Annual Information Form dated March 22, 2022, including in the section thereof captioned "Risk Factors", which is available on SEDAR at www.sedar.com 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.
Disclosure regarding Mineral Reserve and Mineral Resource estimates included in this press release were prepared in accordance with Canadian NI 43-101. The disclosure included in this press release use the terms "Feasibility Study," "Mineral Resource," "Inferred Mineral Resource," "Indicated Mineral Resource," "Measured Mineral Resource," "Mineral Reserve," and "Probable Mineral Reserve" in connection with the presentation of resources, as each of these terms is defined in accordance with the CIM Definition Standards on Mineral Resources and Reserves adopted by the CIM Council, as required by NI 43-101. Unless otherwise indicated, all reserve and resource estimates included in this press release have been prepared in accordance with the CIM Definition Standards, as required by NI 43-101.
NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes the Canadian standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the United Securities and Exchange Commission (the "SEC"). Accordingly, mineral resource and reserve information included in this press release may not be comparable to similar information made public by United States companies reporting pursuant to SEC reporting and disclosure requirements.
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.sedar.com ), 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/20220706005291/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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Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to announce that Manganese X Energy Corp. (TSXV: MN) has filed a Preliminary Economic Assessment ("PEA") of the Battery Hill manganese project ("Battery Hill") in New Brunswick, Canada, on SEDAR. Electric Royalties holds a 2% gross revenue royalty on Battery Hill, which is projected to have a 47-year operating mine life
Brendan Yurik, CEO of Electric Royalties,commented: "We congratulate our royalty asset partner Manganese X Energy on this milestone, which shows significant gross revenue projections for the Battery Hill project of US$177 million per year over an initial forecast mine life of 47 years. Electric Royalties' 2% gross revenue royalty entitles us to 2% of those gross revenues which, once in production, could present a source of significant cash flow to the Company moving forward. The Battery Hill PEA forecasts robust economics and a short payback period for a relatively low capital investment which bodes well for Manganese X Energy as it strives to become the first North American company to commercialize high purity, battery-quality manganese."
Highlights of the PEA (all dollar values are in US dollars unless otherwise stated)1:
HPMSM Market Price and Sensitivity
The Battery Hill project is located approximately 6 km northwest of the town of Woodstock and is accessible to the east via a new two-lane road that connects with Highway 560. The PEA mine plan assumes conventional open-pit mining using a contract mining equipment fleet at a total mining rate of 1.0 million tonnes per year to provide a mill feed of 365,000 tonnes per year, or 1,000 tonnes per day. The proposed process for Battery Hill manganese resources is a whole ore sulphuric acid slurry leach which is further treated to produce a crystalline manganese sulphate monohydrate product meeting all specifications for sale as a battery grade product.
The PEA is preliminary in nature; it includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the preliminary economic assessment will be realized. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
David Gaunt, P.Geo., a qualified person who is not independent of Electric Royalties, has reviewed and approved the technical information in this release.
Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications.
Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase significantly over the next several years and with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to fuel the electric revolution.
Electric Royalties has a growing portfolio of 19 royalties, including one royalty that currently generates revenue. The Company is focused predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk, which offers investors exposure to the clean energy transition via the underlying commodities required to rebuild the global infrastructure over the next several decades towards a decarbonized global economy.
For further information, please contact: Brendan Yurik CEO, Electric Royalties Ltd. Phone: (604) 364‐3540 Email: Brendan.yurik@electricroyalties.com www.electricroyalties.com
Scott Logan Renmark Financial Communications Inc. Phone: (416) 644-2020 or (212) 812-7680 Email: slogan@renmarkfinancial.com www.renmarkfinancial.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor any other regulatory body or securities exchange platform, accepts responsibility for the adequacy or accuracy of this release.
1 Technical report titled "NI 43-101 Technical Report on the Preliminary Economic Assessment of the Battery Hill Manganese Project, Woodstock, New Brunswick, Canada" with an effective date of May 12, 2022, available under Manganese X Energy Corp.'s profile on Sedar.com. The Mineral Resource (MR) within the mine plan includes Measured MR of 5.90 Mt grading 7.65% Mn, Indicated MR of 6.37 Mt grading 7.26% Mn and Inferred MR of 4.73 Mt grading 8.26% Mn at 3.3% Mn cut-off. Input assumptions to the pit shells that constrain the MR estimate include an HPMSM price of US$2,900/t, mine operating cost of $7.43/t, process operating cost of $110/t, G&A cost of $7.60/t, stockpile reclaim cost of $1.46/t, closure cost of $3.00/t, selling cost of US$65/t, process recovery of 78%, a gross metal royalty of 3% applied to the HPMSM produced, and a pit slope of 45°.
2 CPM Group generated a single weighted average forecast price of HPMSM (80% North America/20% Europe) for the 2029 to 2035 period of US$4,200/tonne. A risk managed base case scenario for the long-term period covering the LOM for the Project was provided at US$2,900/tonne HPMSM. Wood's QP considers the US$4,200/tonne HPMSM price as a reasonable basis for the upside sensitivity analysis of the Project economics.
Cautionary Statements Regarding Forward-Looking Information and Other Company Information
This news release includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company within the meaning of Canadian securities laws. This news release includes information regarding other companies and projects owned by such other companies in which the Company holds a royalty interest, based on previously disclosed public information disclosed by those companies and the Company is not responsible for the accuracy of that information, and that all information provided herein is subject to this Cautionary Statement Regarding Forward-Looking Information and Other Company Information.Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company's future outlook and anticipated events and may include statements regarding the financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities of the Company and the projects in which it holds royalty interests.
While management considers these assumptions to be reasonable, based on information available, they may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or these projects to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the renewable energy industry; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the mining industry generally, the Covid-19 pandemic, recent market volatility, income tax and regulatory matters; the ability of the Company or the owners of these projects to implement their business strategies including expansion plans; competition; currency and interest rate fluctuations, and the other risks.
The reader is referred to the Company's most recent filings on SEDAR as well as other information filed with the OTC Markets for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at www.sedar.com and at otcmarkets.com.
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Mason Graphite Inc. (TSX-V: LLG) (OTCQX: MGPHF) ("Mason Graphite" or the "Company") is pleased to announce that Institutional Shareholder Services (ISS) and Glass Lewis, the leading independent proxy voting advisory firms, have recommended that Mason Graphite shareholders vote "FOR" the option and joint venture agreement (the "OJV Agreement") with Nouveau Monde Graphite Inc. ("NMG") (NYSE: NMG) (TSX-V: NOU) and the change of business (the "Change of Business").
Shareholders will benefit from the proposed joint venture to be formed with NMG under the OJV Agreement (the "Joint Venture") by:
In reaching its recommendation that Mason Graphite shareholders vote "FOR" the OJV Agreement, ISS stated: "The joint venture arrangement makes strategic sense as it enables the company to act on the new company business model, while minimizing the costs associated with exploration and further development. The company appears to have conducted a lengthy strategic alternative review and in light of there being no significant governance concerns, shareholder approval of this resolution is warranted."
In reaching its recommendation that Mason Graphite shareholders vote "FOR" the Change of Business, ISS stated: "Given that the change of business will formally align the company with its already current business activities and is being done to comply with TSXV policies, and in the absence of other significant corporate governance concerns, shareholder approval of this resolution is warranted."
As of July 4, 2022, the total votes cast represent 12.98% of the total shares issued and outstanding and both resolutions are being supported by 99.7% of the vote cast.
For more information, shareholders are invited to review Mason Graphite's management information circular prepared in connection with the special meeting of shareholders to be held on July 14, 2022 and Mason Graphite's press releases dated May 16 and June 23, 2022.
Shareholders are reminded every vote counts regardless of how many shares they own and to vote their proxies online by going to www.voteproxyonline.com and entering the 12-digit control number printed on the Proxy or Voting Instruction Form, if you are a registered or Canadian Beneficial Holder. If you are a US beneficial shareholder, go to www.proxyvote.com and enter the 16-digit control number or call 1-800-454-8683 to cast your vote.
If you have any questions, please contact Kingsdale Advisors at 1-800-749-9052 toll-free in North America, or 416-867-2272 outside North America or by email at contactus@kingsdaleadvisors.com.
Mason Graphite Inc. on behalf of the Board of Directors: "Peter Damouni", Executive Director, Mason Graphite Inc.
Paul Hardy, Vice President Corporate Development, at info@masongraphite.com or phardy@masongraphite.com , or +1 514 289-3580. Head Office: 3030, Le Carrefour Blvd., Suite 600, Laval, Québec, Canada, H7T 2P5
Mason Graphite is a Canadian corporation focused on the production and transformation of natural graphite. Its strategy includes the development of value-added products, notably for green technologies like transport electrification. The Company also owns 100% of the rights to the Lac Guéret deposit, one of the richest graphite deposits in the world. The Company is also the largest shareholder of Black Swan Graphene, a Canadian private company focusing on the large-scale production and commercialization of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymers, Li-ion batteries and others. For more information: www.masongraphite.com .
About Nouveau Monde Graphite Inc.
Nouveau Monde is striving to become a key contributor to the sustainable energy revolution. The company is working toward developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada, for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable environmental, social and governance (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. Nouveau Monde is listed on the NYSE under the symbol "NMG" and on the TSX-V under the symbol "NOU".
About Institutional Shareholder Services (ISS)
Institutional Shareholder Services Inc. (ISS) is the world's leading provider of corporate governance and responsible investment (RI) solutions for asset owners, asset managers, hedge funds, and asset service providers. ISS' solutions include: objective governance research and recommendations; RI data, analytics, and research; end-to-end proxy voting and distribution solutions; turnkey securities class-action claims management; and reliable global governance data and modeling tools. Institutional clients turn to ISS to apply their corporate governance views, identify environmental, social and governance risk, and manage their complete proxy voting needs on a global basis. ISS analysts have unique expertise and insight on the governance and RI landscape, local market voting practices and regulatory requirements, along with expertise in varied fields such as law, M&A, compensation, and analytics.
Glass Lewis is the leading independent provider of global governance services, helping institutional investors understand and connect with the companies they invest in. Glass Lewis empowers more than 1,200 institutional investors to make sound voting decisions at more than 20,000 meetings a year by uncovering and assessing governance, business, legal, political, and accounting risks at issuers domiciled in 100 countries.
Neither 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.
News Provided by GlobeNewswire via QuoteMedia
Mason Graphite Inc. (TSX-V: LLG) (OTCQX: MGPHF) ("Mason Graphite" or the "Company") is pleased to announce that Institutional Shareholder Services (ISS) and Glass Lewis, the leading independent proxy voting advisory firms, have recommended that Mason Graphite shareholders vote "FOR" the option and joint venture agreement (the "OJV Agreement") with Nouveau Monde Graphite Inc. ("NMG") (NYSE: NMG) (TSX-V: NOU) and the change of business (the "Change of Business").
Shareholders will benefit from the proposed joint venture to be formed with NMG under the OJV Agreement (the "Joint Venture") by:
In reaching its recommendation that Mason Graphite shareholders vote "FOR" the OJV Agreement, ISS stated: "The joint venture arrangement makes strategic sense as it enables the company to act on the new company business model, while minimizing the costs associated with exploration and further development. The company appears to have conducted a lengthy strategic alternative review and in light of there being no significant governance concerns, shareholder approval of this resolution is warranted."
In reaching its recommendation that Mason Graphite shareholders vote "FOR" the Change of Business, ISS stated: "Given that the change of business will formally align the company with its already current business activities and is being done to comply with TSXV policies, and in the absence of other significant corporate governance concerns, shareholder approval of this resolution is warranted."
As of July 4, 2022, the total votes cast represent 12.98% of the total shares issued and outstanding and both resolutions are being supported by 99.7% of the vote cast.
For more information, shareholders are invited to review Mason Graphite's management information circular prepared in connection with the special meeting of shareholders to be held on July 14, 2022 and Mason Graphite's press releases dated May 16 and June 23, 2022.
Shareholders are reminded every vote counts regardless of how many shares they own and to vote their proxies online by going to www.voteproxyonline.com and entering the 12-digit control number printed on the Proxy or Voting Instruction Form, if you are a registered or Canadian Beneficial Holder. If you are a US beneficial shareholder, go to www.proxyvote.com and enter the 16-digit control number or call 1-800-454-8683 to cast your vote.
If you have any questions, please contact Kingsdale Advisors at 1-800-749-9052 toll-free in North America, or 416-867-2272 outside North America or by email at contactus@kingsdaleadvisors.com.
Mason Graphite Inc. on behalf of the Board of Directors: "Peter Damouni", Executive Director, Mason Graphite Inc.
Paul Hardy, Vice President Corporate Development, at info@masongraphite.com or phardy@masongraphite.com , or +1 514 289-3580. Head Office: 3030, Le Carrefour Blvd., Suite 600, Laval, Québec, Canada, H7T 2P5
Mason Graphite is a Canadian corporation focused on the production and transformation of natural graphite. Its strategy includes the development of value-added products, notably for green technologies like transport electrification. The Company also owns 100% of the rights to the Lac Guéret deposit, one of the richest graphite deposits in the world. The Company is also the largest shareholder of Black Swan Graphene, a Canadian private company focusing on the large-scale production and commercialization of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymers, Li-ion batteries and others. For more information: www.masongraphite.com .
About Nouveau Monde Graphite Inc.
Nouveau Monde is striving to become a key contributor to the sustainable energy revolution. The company is working toward developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada, for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable environmental, social and governance (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. Nouveau Monde is listed on the NYSE under the symbol "NMG" and on the TSX-V under the symbol "NOU".
About Institutional Shareholder Services (ISS)
Institutional Shareholder Services Inc. (ISS) is the world's leading provider of corporate governance and responsible investment (RI) solutions for asset owners, asset managers, hedge funds, and asset service providers. ISS' solutions include: objective governance research and recommendations; RI data, analytics, and research; end-to-end proxy voting and distribution solutions; turnkey securities class-action claims management; and reliable global governance data and modeling tools. Institutional clients turn to ISS to apply their corporate governance views, identify environmental, social and governance risk, and manage their complete proxy voting needs on a global basis. ISS analysts have unique expertise and insight on the governance and RI landscape, local market voting practices and regulatory requirements, along with expertise in varied fields such as law, M&A, compensation, and analytics.
Glass Lewis is the leading independent provider of global governance services, helping institutional investors understand and connect with the companies they invest in. Glass Lewis empowers more than 1,200 institutional investors to make sound voting decisions at more than 20,000 meetings a year by uncovering and assessing governance, business, legal, political, and accounting risks at issuers domiciled in 100 countries.
Neither 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.
News Provided by GlobeNewswire via QuoteMedia
Mason Graphite Inc. (TSX-V: LLG) (OTCQX: MGPHF) ("Mason Graphite" or the "Company") is pleased to announce that Institutional Shareholder Services (ISS) and Glass Lewis, the leading independent proxy voting advisory firms, have recommended that Mason Graphite shareholders vote "FOR" the option and joint venture agreement (the "OJV Agreement") with Nouveau Monde Graphite Inc. ("NMG") (NYSE: NMG) (TSX-V: NOU) and the change of business (the "Change of Business").
Shareholders will benefit from the proposed joint venture to be formed with NMG under the OJV Agreement (the "Joint Venture") by:
In reaching its recommendation that Mason Graphite shareholders vote "FOR" the OJV Agreement, ISS stated: "The joint venture arrangement makes strategic sense as it enables the company to act on the new company business model, while minimizing the costs associated with exploration and further development. The company appears to have conducted a lengthy strategic alternative review and in light of there being no significant governance concerns, shareholder approval of this resolution is warranted."
In reaching its recommendation that Mason Graphite shareholders vote "FOR" the Change of Business, ISS stated: "Given that the change of business will formally align the company with its already current business activities and is being done to comply with TSXV policies, and in the absence of other significant corporate governance concerns, shareholder approval of this resolution is warranted."
As of July 4, 2022, the total votes cast represent 12.98% of the total shares issued and outstanding and both resolutions are being supported by 99.7% of the vote cast.
For more information, shareholders are invited to review Mason Graphite's management information circular prepared in connection with the special meeting of shareholders to be held on July 14, 2022 and Mason Graphite's press releases dated May 16 and June 23, 2022.
Shareholders are reminded every vote counts regardless of how many shares they own and to vote their proxies online by going to www.voteproxyonline.com and entering the 12-digit control number printed on the Proxy or Voting Instruction Form, if you are a registered or Canadian Beneficial Holder. If you are a US beneficial shareholder, go to www.proxyvote.com and enter the 16-digit control number or call 1-800-454-8683 to cast your vote.
If you have any questions, please contact Kingsdale Advisors at 1-800-749-9052 toll-free in North America, or 416-867-2272 outside North America or by email at contactus@kingsdaleadvisors.com.
Mason Graphite Inc. on behalf of the Board of Directors: "Peter Damouni", Executive Director, Mason Graphite Inc.
Paul Hardy, Vice President Corporate Development, at info@masongraphite.com or phardy@masongraphite.com , or +1 514 289-3580. Head Office: 3030, Le Carrefour Blvd., Suite 600, Laval, Québec, Canada, H7T 2P5
Mason Graphite is a Canadian corporation focused on the production and transformation of natural graphite. Its strategy includes the development of value-added products, notably for green technologies like transport electrification. The Company also owns 100% of the rights to the Lac Guéret deposit, one of the richest graphite deposits in the world. The Company is also the largest shareholder of Black Swan Graphene, a Canadian private company focusing on the large-scale production and commercialization of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymers, Li-ion batteries and others. For more information: www.masongraphite.com .
About Nouveau Monde Graphite Inc.
Nouveau Monde is striving to become a key contributor to the sustainable energy revolution. The company is working toward developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada, for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable environmental, social and governance (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. Nouveau Monde is listed on the NYSE under the symbol "NMG" and on the TSX-V under the symbol "NOU".
About Institutional Shareholder Services (ISS)
Institutional Shareholder Services Inc. (ISS) is the world's leading provider of corporate governance and responsible investment (RI) solutions for asset owners, asset managers, hedge funds, and asset service providers. ISS' solutions include: objective governance research and recommendations; RI data, analytics, and research; end-to-end proxy voting and distribution solutions; turnkey securities class-action claims management; and reliable global governance data and modeling tools. Institutional clients turn to ISS to apply their corporate governance views, identify environmental, social and governance risk, and manage their complete proxy voting needs on a global basis. ISS analysts have unique expertise and insight on the governance and RI landscape, local market voting practices and regulatory requirements, along with expertise in varied fields such as law, M&A, compensation, and analytics.
Glass Lewis is the leading independent provider of global governance services, helping institutional investors understand and connect with the companies they invest in. Glass Lewis empowers more than 1,200 institutional investors to make sound voting decisions at more than 20,000 meetings a year by uncovering and assessing governance, business, legal, political, and accounting risks at issuers domiciled in 100 countries.
Neither 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.
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