Pallinghurst Increases its Interest in Nouveau Monde to 21% - Showing Further Commitment to the Company
Nouveau Monde Graphite Inc. (Nouveau Monde or the Company) ( NYSE: NMG , TSXV: NOU ) is pleased to announce that Pallinghurst Graphite International Limited (Pallinghurst), the holder of a secured convertible bond in the principal amount of C$15 million (the Convertible Bond), as announced in the press release dated July 15, 2020, has converted the full outstanding principal amount of the Convertible Bond to common shares of the Company. This decision further demonstrates Pallinghursts significant and continuing support for the Company and its ongoing project development initiatives, as it strives to become a key player in the sustainable energy revolution.
Importantly, all related security to secure the obligations of the Company under the Convertible Bond will be released and discharged, which will provide the Company with increased flexibility for its project financing initiatives, as it moves towards the next stage of development.
The Convertible Bond was converted in two tranches: 1,875,000 common shares were received by Pallinghurst on exercise of the first tranche and distributed by Pallinghurst to its investors, which include Messrs. Arne H Frandsen and Andrew Willis, who are directors of the Company. 5,625,000 common shares were subsequently issued to Pallinghurst in respect of conversion of the second tranche.
Hier die ganze Meldung:
money.tmx.com/en/quote/NOU/news/..._Commitment_to_the_Company