Canadian Mining Journal

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Nemaska Lithium attracts financing for Whabouchi



Nemaska Lithium (TSX: NMX; US-OTC: NMKEF) has landed two big financing deals in as many weeks with Japanese multinational conglomerate SoftBank Group Corp. and private equity firm Orion Mine Finance.

The two companies agreed this month to put their shoulders to the wheel and help Nemaska turn its spodumene lithium hard rock deposit in Quebec into a mine along with a processing plant that will transform the mine’s spodumene concentrate into lithium hydroxide and lithium carbonate for use in the lithium battery market.

The SoftBank Group, a global technology player with a portfolio of companies in advanced telecoms, internet services, robotics and clean energy, is taking up to a 9.9% stake in Nemaska Lithium’s outstanding common shares at a price of $1.12 for gross proceeds of up to $99.08 million.

Continue reading at The Northern Miner.