Québec funds back Nouveau Monde's $9.2 private offering

Nouveau Monde Graphite Inc, a natural graphite producer, has closed the second tranche of a private placement offering, raising gross proceeds of about $9.2 million. Québec private equity funds, including Ressource Québec, Sodémex Développement, Fonds de solidarité FTQ, Sidex and Capital croissance PME (CCPME), backed the tranche. Montréal-based Nouveau said the funds raised will be used to develop its Matawinie graphite project in Québec. Sodémex is sponsored by Caisse de dépôt et placement du Québec (CDPQ), while CCPME is jointly sponsored by CDPQ and Capital régional et coopératif Desjardins.

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