Nouveau Monde announces $213M private placement

Nouveau Monde (NMG) is pleased to announce an equity investment of $82M by Canada Growth Fund, $61M by the Government of Quebec, through Investissement Quebec, and $70M by Eni S.p.A.,respectively, in NMG for an aggregate investment amount of $213M, subject to, among other things, receipt of the shareholder approvals. Each of CGF, IQ, and Eni has agreed to subscribe, on a private placement basis, for common shares in the capital of NMG, subject to certain conditions, including receipt of the shareholder approvals. Pursuant to the Private Placement, the company will issue an aggregate 115,847,792 Common Shares at a price of $1.84 per Common Share, for aggregate gross proceeds of $213M. The Private Placement is expected to close on or about May 15.