Monarques Gold (MQR-T) Nemaska Lithium (NMX-T Halted) Sells Its 15,849,455 Common Shares
May 15, '20 - NR
With the approval of the Superior Court of Quebec, Nemaska Lithium Inc. proceeded yesterday with the sale of all its 15,849,455 common shares of Monarch Gold Corp. The shares were sold at an average price of $0.225, for a total amount of approximately $3.5 million. These shares were not subject to any security and their sale has enabled the Corporation to generate additional liquidity for the ongoing restructuring process under the Companies' Creditors Arrangement Act (CCAA).
More information regarding the Corporation's situation, decisions or actions will continue to be provided on an ongoing basis, as required by applicable law or as may be determined by the Corporation or the Court. For more information, visit www.nemaskalithium.com. You can also refer to the Monitor's website for more information regarding the CCAA procedures at pwc.com.
About Nemaska Lithium
Nemaska Lithium Inc. is a developing chemical company whose activities will be vertically integrated, from spodumene mining to the commercialization of high-purity lithium hydroxide. These lithium salts are mainly destined for the fast-growing lithium-ion battery market, which is driven by the increasing demand for electric vehicles and energy storage worldwide. With its products and processes, the Corporation intends to facilitate access to green energy, for the benefit of humanity.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Gabrielle Tellier
Media Relations
514 348-0466
gabrielle.tellier@nemaskalithium.com |
