TSX-V-listed Nouveau Monde Graphite has announced plans to raise C$20-million to advance its Becancour value-added graphite project and the Matawinie mine project, in Canada.
The company will raise C$15-million from BMO Capital, which has agreed to buy on a bought-deal basis 10 345 000 shares at C$1.45 a share.
Nouveau Monde is also concurrently launching a nonbrokered private placement to raise C$5-million on the same terms as the public offering with institutional investors.
The Pallinghurst Group, which holds about 20% of the corporation’s common shares, plans to participate pro-rata its current ownership in the public offering and the private placement.