Nouveau Monde Graphite set trade on the Toronto Stock Exchange
Nouveau Monde Graphite Inc. [NOU-TSXV, NMG-NYSE] said it is uplisting to the Toronto Stock Exchange. The company said it has received final approval from the TSX for the uplisting of common shares on the TSX board, having met the necessary listing requirements, including the filing of all required documentation.
The shares are expected to begin trading on the TSX on January 20, 2025, under the ticker symbol NOU. In conjunction with the graduation to the TSX, the common shares will be voluntarily delisted from the TSX Venture Exchange at the market close on January 17, 2025.
“This migration underscores our relevance in the North American battery and electric vehicle sector and our commitment to generating value for our shareholders and stakeholders,’’ said Nouveau Monde founder, President and CEO Eric Desaulniers. “Aligning with our business plan, this listing is set to enhance our visibility and credibility in the capital market, enabling us to attract strategic institutional and retail investors to our story,’’ he said.
The shares edged higher on the news, rising 0.98% or $0.03 to $3.10. The shares trade in a 52-week range of $4.14 and $1.70.
Nouveau Monde 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 was in the news recently when it announced a US$50 million equity investment by Canada Growth Fund and the Government of Quebec via its Investissement Quebec (IQ) in the company to continue advancement and development towards commercial operations, subject to regulatory approvals.
As the company prepares for a final investment decision regarding the Phase-2 Matawinie Mine and Becancour Battery Material Plant in Quebec, the investment aims to facilitate progress on detailed engineering, orders of long-lead items and support critical path activities.
Nouveau Monde’s Matawinie graphite mining project is located in Saint-Michel-des-Saints, Que., approximately 150 kilometres north of Montreal. The company recently signed an impact and benefits agreement with the Atikamekw First Nation of Manawan. “With this agreement, the Manawan Atikamekw give their consent to the Matawinie mining project, which aims to responsibly valorize graphite by Nouveau Monde, in a way that respects the environment and provides direct benefits to the First Nation.
The company is actively progressing toward the finalization of an updated feasibility study for its integrated Phase-2 Matawinie Mine and Becancour Battery Materials plant to optimize production parameters, engineering and cost projections; the updated results are expected early in the first quarter of 2025.
It said ongoing project financing activities for Phase 2 include expressions of interest for approximately $1.4 billion, consisting of potential lenders and, anchor customers and institutional equity investors.
The company is also seeking eligibility to a refundable investment tax credit from the Canadian government, estimated at about $350 million for the Phase-2 facilities.