Nouveau Monde Graphite announces private placement of C$22M including $10.3M from Pallinghurst

|About: Nouveau Monde Graphite Inc. (NMGRF)|By:, SA News Editor

Nouveau Monde Graphite (OTCQX:NMGRF) announces a non-brokered private placement with Pallinghurst for C$10.3M

Pallinghurst purchases 43.8M shares at $0.235/share; upon closing, Pallinghurst will hold ~20% of Nouveau Monde shares.

Additionally, Nouveau Monde plans to complete a second private placement to select existing institutional shareholders and other investors, expected to close in May 2019.

Combined proceeds of ~C$22M from both the placements, is expected to be used for development of the Matawinie project.

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