Nouveau Monde Graphite announced a $297 million equity financing package to advance its Phase-2 Matawinie Mine toward final investment decision, combining a $213 million private placement and a $84 million bought deal public offering.
The private placement includes investments from Canada Growth Fund, the Government of Québec through Investissement Québec, and Eni S.p.A., reflecting strong institutional and strategic backing for the project. The equity financing, alongside previously announced $335 million in committed project debt facilities, is expected to fully fund the Phase-2 Matawinie Mine and position the company to move toward construction.
The Matawinie Mine is a key component of NMG’s broader strategy to establish a fully integrated mine-to-anode-material value chain in Québec, supporting the global transition to electric vehicles and advanced battery technologies. The company intends to use proceeds to fund engineering, design, and construction activities, as well as general corporate purposes.
As part of the investment, Eni has also entered into discussions for a potential long-term offtake agreement covering up to 15,000 tonnes per year of graphite concentrate or equivalent anode material, signaling growing demand for secure, low-carbon critical mineral supply chains.
In parallel, NMG is developing its Bécancour Battery Material Plant, targeting a production capacity of 13 kilotonnes per year of active anode material, with a final investment decision expected in the second half of 2026.
The financing remains subject to shareholder approvals and regulatory clearances, with a shareholder meeting scheduled for May 13, 2026. The public offering is expected to close around April 16, 2026, while the private placement is anticipated to close in mid-May 2026.
The transaction represents a critical milestone in assembling a fully funded development plan for one of North America’s key graphite projects, positioning NMG as a strategic supplier of battery materials.
KEY QUOTE:
“The participation of IQ and CGF in the Private Placement builds on their prior support for the advancement of the Phase-2 Matawinie Mine and the broader ore to battery material value chain, while Eni’s investment reflects growing strategic interest from global energy and industrial players in secure, carbon neutral critical minerals supply.”
Company Statement
