Pallinghurst proposes to invest $600 mln in Nemaska Lithium
Nemaska Lithium Inc (TSX: NMX), a Québec City-based lithium hydroxide supplier to the lithium battery market, has received a $600 million investment offer from Pallinghurst Group, a U.K. metals and mining private equity firm. Pallinghurst proposed to invest $200 million through a private placement as well as $400 million through a rights offering. The parties agreed to a three-month period to finalize an agreement. Nemaska shareholders will vote on a deal no later than October. The proceeds are intended to fund the company's Whabouchi project, which includes a lithium spodumene mine and electrochemical plant in Québec. Nemaska last year struck a US$150 million streaming deal with Orion Mine Finance.
19 July 2019•7 mins read
