Nouveau Monde Graphite Inc. has announced the closing of the previously announced acquisition of the entire Lac Guéret property, targeted for the development of the Uatnan Mining Project, contemplated under an asset purchase agreement with Mason Resources Inc. dated January 21, 2024.
NMG acquired 100% of Mason’s Lac Guéret property, which consists among other things of 74 map-designated claims totalling 3,999.52 hectares. The consideration for the acquisition of the Lac Guéret property was paid with 6,208,210 common shares of NMG, representing 9.25% of the pro forma issued and outstanding shares of NMG. A subsequent payment of $5,000,000 will be made to Mason at the start of commercial production of the contemplated Uatnan Mining Project.
The asset purchase agreement supersedes and terminates the previously announced investment agreement and option and joint venture agreement between NMG and Mason.