TOKYO, Feb. 15, 2024 /CNW/ – This news release is issued by Mitsui & Co., Ltd (“Mitsui”) pursuant to the early warning requirements of Canada’s National Instrument 62-104 and National Instrument 62-103 with respect to Nouveau Monde Graphite Inc. (“NMG”).
Mitsui announces that it has entered into a subscription agreement dated February 14, 2024 (the “Subscription Agreement”) with NMG pursuant to which Mitsui has agreed to purchase, at an aggregate subscription price of US$25 million (C$33,875,000 using the daily rate reported by the Bank of Canada for February 14, 2024) (the “Investment”), subject to regulatory approvals and the requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, 12,500,000 Common Shares in the capital of NMG (“Common Shares”) and 12,500,000 common share warrants (“Warrants”). The proceeds of the Investment will be used to repurchase the convertible note of NMG in an aggregate principal amount of US$25,000,000 (C$33,875,000 using the daily rate reported by the Bank of Canada for February 14, 2024) dated November 8, 2022 held by Mitsui, as amended and restated (the “Mitsui Convertible Note”).
Prior to entering into the subscription agreement, Mitsui is deemed to beneficially own an …
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