Nemaska Lithium Accepts a Sale Proposal from Orion Mine Finance, Investissement Québec and The Pallinghurst Group

Nemaska Lithium Accepts a Sale Proposal from Orion Mine Finance, Investissement Québec and The Pallinghurst Group

MONTREAL, Aug. 24, 2020 (GLOBE NEWSWIRE) — Nemaska ​​Lithium Inc. (“Nemaska Lithium” or the “Corporation”) announces today that it has accepted a sale proposal structured as a credit bid (the “Bid”) from a group (the “Buyers’ Group”) made up of the Corporation’s largest secured creditor, Orion Mine Finance (“Orion”), Investissement Québec and The Pallinghurst Group, acting through a new entity named Quebec Lithium Partners (The Pallinghurst Group collectively with Investissement Québec being hereinafter, the “Sponsors”), at the conclusion of its previously announced Sale or Investor Solicitation Process (the “SISP”) under the Companies’ Creditors Arrangement Act (the “CCAA”).
After a thorough review, with its financial and legal advisors, of available qualified bids received as part of the SISP and after the withdrawal of other indications of interest as well as a careful consideration of the interest of all of its stakeholders, the Corporation’s Board of Directors, following a unanimous recommendation of its special committee, the recommendation of the Corporation’s advisors and the support of the CCAA Monitor, determined that accepting the Bid was the best alternative for the Corporation.Terms of the Bid
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