Nemaska Lithium has accepted a sale proposal structured as a credit bid from a group made of the corporation’s largest secured creditor, Orion Mine Finance, Investissement Québec and The Pallinghurst Group.
The sale, announced on Monday, comes at the conclusion of a sale or investor solicitation process under the Companies’ Creditors Arrangement Act (CCAA).
The buyers’ group will acquire Nemaska business and assets, other than certain excluded assets and liabilities that will be transferred directly or indirectly to a new entity – Residual Nemaska Lithium.