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Italy’s Eni to Take Stake in Canada’s Nouveau Monde Graphite in $70-Million Investment
The deal combines private investment and a public offering to fully fund Phase 2 and move the graphite project toward a final investment decision.
- On Friday, Nouveau Monde Graphite Inc. announced a US$297 million equity financing package combining US$82 million from Canada Growth Fund, US$61 million from Investissement Québec, US$70 million from Eni, and an US$84 million public offering.
- Aiming to reduce dependence on materials sourced from China, Eni seeks to enter the critical minerals value chain at a time when European companies are securing carbon-neutral graphite supplies.
- Combined with previously announced US$335 million in debt facilities, the equity proceeds fully fund the Phase-2 Matawinie Mine, where construction manager Pomerleau has begun onsite mobilization to supervise preliminary civil works in coming weeks.
- The public offering is expected to close on or about April 16, 2026, while completion of the private placement requires shareholder approval at a May 13, 2026 meeting under "Regulation 61-101" rules for related-party transactions.
- Gross proceeds will be held in escrow pending release conditions; if not satisfied by July 31, 2026, or if a "termination event" occurs, subscription receipt holders receive their full purchase price plus pro rata income.
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NMG Announces US$297 Million Equity Financing Package including US$213 Million Private Placement and US$84 Million Bought Deal Public Offering, Advancing Phase-2 Matawinie Mine toward FID
Canada Growth Fund, the Government of Québec, through Investissement Québec, and Eni S.p.A., commit to an aggregate US$213 million equity investment, to...
Canada Growth Fund To Invest $82M USD In Nouveau Monde Graphite
MONTREAL — Canada Growth Fund Inc. announced on Apr. 9 that it has entered into a definitive agreement with respect to an $82 million USD ($113 million CAD) private placement with Nouveau Monde Graphite Inc., a Quebec-based graphite miner and refiner. NMG is building a fully integrated Canadian graphite supply chain, anchored by a mine at Saint-Michel-des-Saints and Bécancour-based refining facility to support the energy transition, advanced tec…
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Total News Sources11
Leaning Left3Leaning Right1Center2Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 33%
R 17%
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