Nmg Successfully Completes Acquisition Of Mason Resources' Graphite Deposit Project

By Author: Orson Amiri
Total Articles: 395
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Nouveau Monde Graphite Inc. (NMG) has successfully closed the acquisition of Mason Resources Inc.'s Lac Guéret property, earmarked for the Uatnan Mining Project's development, under an asset purchase agreement dated January 21, 2024. NMG now owns 100% of Mason's Lac Guéret property, encompassing 74 map-designated claims spanning 3,999.52 hectares. The consideration for this acquisition included 6,208,210 common shares of NMG, constituting 9.25% of the pro forma issued and outstanding shares. Additionally, a subsequent payment of $5,000,000 will be disbursed to Mason upon the commencement of commercial production for the Uatnan Mining Project, marking a significant milestone in their collaboration.

This successful transaction supersedes and terminates prior agreements, streamlining NMG's acquisition strategy. For detailed information on this transaction, refer to NMG's press release dated January 22, 2024, available on SEDAR+ at www.sedarplus.ca, EDGAR at www.sec.gov, and NMG's website at https://nmg.com/acquisition-lac-gueret/.

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