TSX-V-listed Nouveau Monde Graphite (NMG’s), which is developing the Matawinie graphite project in Saint-Michel-des-Saints near Quebec, has closed financing transactions totalling C$20-million with Pallinghurst.
Shareholders at the annual general and special meeting held last week approved the transactions, which will fund the next phase of NMG’s development, focused on lithium-ion battery material.
Graphite is a critical input material for the electric vehicle (EV) and stationary energy storage industries.