NMG Receives Over US$1 Billion in Letters of Interest for its Project Debt Financing
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Letters of interest obtained thus far for a total of US$1 billion toward NMG's Phase-2 project financing with ongoing solicitation of interest
Targeted capital providers include Export Development Canada, Canada Infrastructure Bank, Export–Import Bank of the United States, and various governmental bodies, public institutions, and export credit agencies
Related due diligence exercises well advanced in preparation for debt providers investment committee reviews with a view to reach FID
NMG's fully integrated Phase-2 graphite projects cater to current North American efforts to develop local and reliable supply chains for the battery and EV sector
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MONTRÉAL — Nouveau Monde Graphite Inc. ('NMG' or the 'Company') ( NYSE: NMG, TSX: NOU) is firming up its project debt financing structure with the intended participation of syndicate institutional funds and export credit agencies for over US$1 billion toward the Company's Phase-2 Matawinie Mine and Bécancour Battery Material Plant. NMG released earlier this year the NI 43-101 Updated Technical Feasibility Study Report for the Matawinie Mine and Bécancour Battery Material Plant Integrated Graphite Projects (the 'Updated Feasibility Study') which confirmed the technical and economic viability of the Company's projected integrated production of natural graphite and active anode material within a 150-km radius of Montréal, Québec, Canada, with an after-tax internal rate of return ('IRR') of 17.5% and net present value ('NPV') of US$1,053 million. NMG has since entered its project financing stage to bring its Phase 2 to a final investment decision ('FID').
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Eric Desaulniers, Founder, President, and CEO of NMG, declared: 'We have been extremely busy in the past weeks to present the results of our Updated Feasibility Study and engage with our financial stakeholders to advance our project financing. Feedback has been positive as demonstrated by the quality of lenders rallying behind our business plan. Economies around the world are seeking opportunities to relocate and secure critical minerals mining and processing to enable local manufacturing, economic resilience, energy autonomy, and national security.' Financing Update NMG has now received letters of interest from targeted capital providers totaling over US$1 billion in potential debt financing support. This milestone provides a foundation for NMG Phase-2 project financing and further solidifies the Company's path toward FID. These letters of interest include:
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US$430 million from Export Development Canada ('EDC'), Canada's export credit agency that specializes in providing financing solutions to support Canadian exporters in global markets with a special focus on sustainable, responsible and inclusive trade. EDC facilitated over US$7.6 billion in business activities supporting customers in the mining and metals sector in 2024, reinforcing its ongoing commitment to Canada's critical minerals strategy and global resource leadership.
US$172 million from Export–Import Bank of the United States ('EXIM'), the official export credit agency of the United States, who issued a letter of interest to NMG in support of securing access to critical minerals via a potential financing under EXIM's Supply Chain Resiliency Initiative ('SCRI'). The SCRI aims to diversify and strengthen U.S. supply chains, reduce dependency on the People's Republic of China, and strengthen U.S. national and economic security, while protecting and creating American jobs.
Over US$481 million from undisclosed parties. While specific terms remain confidential at this stage, these discussions reflect interest in the project's strategic and economic significance.
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The Company is advancing discussions with these various governmental bodies, public institutions, and export credit agencies to support the overall debt funding package.
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The senior debt amount aligns with NMG's financing projections, consistent with the anticipated debt-to-equity ratio for the project. Debt providers are contemplating long-term debt or guarantees with a maturity beyond 10 years, with no capital repayment during the construction period. The received letters of interest were provided to the Company by various parties and are non-binding; they express an interest and intent to work towards completing a final term sheet. Project financing also relies on the successful completion of equity financing with strategic investors as well as the completion of outstanding conditions precedent, including an updated project timeline, necessary to secure the purchase obligations under the offtake agreements with the anchor customers. While discussions between the various parties are ongoing, there is no guarantee or assurance that final agreements will be reached and/or funding will be provided to the Company.
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Path to FID
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The due diligence processes are progressing, supported by specialized advisory firms, which are proceeding concurrently to assess the corporate, technical, market, and ESG components of NMG's planned Phase-2 operations and to guide financial stakeholders' risk assessment. The due diligence outcomes will feed into the structuring of legal documentation and a project debt package ahead of investment committee reviews.
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NMG is also advancing the project development of technical documentation in preparation for FID through engineering work, negotiation of contracts with key suppliers, preparation of call for tenders for construction, and value engineering, all with the objective of enabling an efficient execution upon financing close.
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About Nouveau Monde Graphite
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Nouveau Monde Graphite is an integrated company developing responsible mining and advanced processing operations to supply the global economy with carbon-neutral active anode material to power EV and renewable energy storage systems. The Company is developing a fully integrated ore-to-battery-material source of graphite-based active anode material in Québec, Canada. With recognized ESG standards and structuring partnerships with anchor customers, NMG is set to become a strategic supplier to the world's leading lithium-ion battery and EV manufacturers, providing advanced materials while promoting sustainability and supply chain traceability. www.NMG.com Subscribe to our news feed: https://bit.ly/3UDrY3X Cautionary Note Regarding Forward-Looking Information This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities legislation (collectively, 'forward-looking statements'), including, but not limited to, statements relating to future events or future financial or operating performance of the Company and reflect management's expectations and assumptions regarding the Company's growth, results, performance and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and are based on information currently available to it. These forward-looking statements include, but are not limited to, the Company's ability to secure its project financing and to secure a positive FID, including to complete the term sheet and finalize the legal documentation, to execute contracts with key suppliers and construction contractors, to complete the detailed engineering, to develop a fully integrated ore-to-battery-material source of graphite-based active anode material in the Province of Québec, the completion of the Phase-2 Matawinie Mine and Bécancour Battery Material Plant, , and the expected results of the initiatives described in this press release, and those statements which are discussed under the 'About Nouveau Monde' paragraph and elsewhere in the press release which essentially describe the Company's outlook and objectives. Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions are not guarantees of future performance and may prove to be incorrect. Moreover, these forward-looking statements are based upon various underlying factors and assumptions, including the business relationship between the Company and its stakeholders, the ability to obtain sufficient financing for the development of the Matawinie Mine and the Bécancour Battery Material Plant, the Company's ability to satisfy the due diligence processes of the stakeholders, and are not guarantees of future performance. Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, availability financing or financing on favorable terms for the Company, delays in the reaching FID, , and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG's Annual Information Form dated March 31, 2025, including in the section thereof captioned 'Risk Factors', which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. Further information regarding the Company is available in the SEDAR+ database (www.sedarplus.ca), and for United States readers on EDGAR (www.sec.gov), and on the Company's website at: .
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Julie Paquet
VP Communications & ESG Strategy
+1-450-757-8905 #140
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