© Reuters.
TORONTO – Mason Sources Inc. (TSXV: LLG) (OTCQX: MGPHF) has entered into an settlement with Nouveau Monde Graphite Inc. (NYSE: NMG) (TSXV: NOU) to promote its Lac Guéret Property, which is slated for the event of the Uatnan Mining Challenge. The transaction will see Mason obtain over 6 million NMG widespread shares and a money cost upon the undertaking’s industrial manufacturing begin.
The asset buy settlement, dated January 21, 2024, stipulates that Mason will get hold of 6,208,210 widespread shares of NMG, equating to a 143% premium based mostly on the Lac Guéret Property’s implied market worth and 9.25% of NMG’s professional forma issued and excellent widespread shares. Moreover, Mason is ready to obtain $5M in money as soon as the Uatnan Mining Challenge commences industrial manufacturing.
Mason’s shareholders are anticipated to learn from this deal by changing into important stakeholders in NMG at a time when the corporate is advancing quickly. This strategic transfer gives Mason with publicity to NMG’s industrial actions with main battery and electrical car producers, resembling Panasonic (OTC:) Power Co. Ltd., and positions Mason to capitalize on the projected rise in graphite costs, significantly following current export restrictions by China.
The transaction, which is topic to straightforward closing situations, is anticipated to be finalized on or earlier than January 31, 2024. Upon completion, it’s going to supersede and terminate earlier agreements between the 2 firms.
Nouveau Monde Graphite goals to ascertain a completely built-in supply of carbon-neutral battery anode materials in Québec, Canada, serving the lithium-ion and gasoline cell markets. Mason, whereas divesting from the Lac Guéret Property, stays the most important shareholder of Black Swan Graphene Inc., specializing in graphene manufacturing.
The transaction’s monetary advisor is Paradigm Capital Inc., and authorized affairs are managed by Davies Ward Phillips & Vineberg LLP. This transfer is seen as a big step in strengthening Québec’s place within the world graphite trade and advancing the sustainable vitality revolution.
This text relies on a press launch assertion from Mason Sources Inc.
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