“If a listing is obtained, Nouveau Monde is likely to be one of the largest battery grade graphite companies listed in the US,” Frandsen went on to say.
Nouveau Monde, which is developing battery anode materials in Quebec, recently announced plans to begin early construction at its Matawinie graphite project, following key approvals from the provincial government.
The Matawinie mine is set to be the Western world’s largest graphite mine, currently authorized to produce 100,000 tonnes of graphite material per year.
“The addition of a listing on the NYSE or Nasdaq will further enhance the company’s US presence. With our strategic use of hydroelectricity and plans to rely on a fully electrical mining fleet, Nouveau Monde is uniquely positioned to deliver a North American source of carbon-neutral graphite-based material solutions for the growing lithium-ion and fuel cell markets, with full-scale commercial production targeted for 2023,” president and CEO Eric Desaulniers added.
In connection with the potential US listing, Nouveau Monde has scheduled a special shareholders meeting on March 23, seeking approval for a share consolidation at a ratio that will result in a post-consolidation price that meets the listing requirements for the selected US stock exchange.
The company anticipates its stock to begin trading in the US during the second quarter of this year, subject to all necessary approvals.
Shares of Nouveau Monde fell 3.2% by 1:15 p.m. Tuesday in Toronto. The company has a market capitalization of C$882.8 million.
