Our Ottawa, Montréal, Toronto, and Québec City offices represented Nouveau Monde Graphite Inc. (NMG) in a US$87.5m private placement whereby anchor investors General Motors Co. and Panasonic Holdings Corporation, together with existing investors of Mitsui & Co., Ltd. And Pallinghurst Bond Limited acquired 43,750,000 common shares and 43,750,000 warrants in NMG. Concurrently with the private placement, GM and Panasonic Energy Co., Ltd., an affiliate of Panasonic Holdings Corporation, entered into offtake agreements with NMG to purchase 18,000 metric tons of active graphite anode material each per year over six to seven years.

This deal is significant for NMG because it will enable them to continue their plans to develop what is projected to be the first fully integrated source of natural graphite active anode material in North America at a time when vehicle producers, like GM, are developing more sustainable and resilient North American-focused EV supply chains. This deal is the first of its kind for Norton Rose Fulbright Canada with respect to an offtake agreement for graphite supply.

Our team advised on all Canadian matters related to the private placement and all matters related to the offtake agreements.

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