NMG Discloses Annual General & Special Meeting Voting Results and Provides Update on the Advancement of its Business Strategy
NMG Discloses Annual General & Special Meeting Voting Results and
Provides Update on the Advancement of its Business Strategy
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).
MONTRÉAL--(BUSINESS WIRE)--June 27, 2024--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.
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 Köhler 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
Contacts
MEDIA
Julie Paquet
VP Communications & ESG Strategy
1-450-757-8905 #140
INVESTORS
Marc Jasmin
Director, Investor Relations
1-450-757-8905 #993