Nemaska Lithium Confirms Fulfillment of Conditions Precedent to the Long Stop Date Under Its USD 350M Bond Offering

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QUÉBEC CITY, Aug. 29, 2018 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (“Nemaska Lithium” or the “Corporation”) (TSX:NMX) (OTCQX:NMKEF) (FRANCFORT:N0T) is pleased to confirm that it has satisfied the conditions required before the the Long Stop Date (as defined in the terms of the Bonds) pursuant to its offering of senior secured callable bonds in the aggregate principal amount of USD 350M (the "Bonds"), the completion of which was announced on May 30, 2018 (the "Bond Offering").

As indicated at the time of the pricing and closing of the books for the Bond Offering (see May 10, 2018 press release), the Corporation had until August 30, 2018, to satisfy a series of conditions precedent to the transfer of proceeds to the trustee in charge of holding same for the benefit of the bondholders, before the Corporation may draw on such proceeds. The main conditions met are:

(a)	having raised minimum net equity proceeds of USD 299M (see May 30, 2018 press release);
(b)	having received the first instalment of USD 75M of the streaming facility (see August 23, 2018 press release);
(c)	having executed and/or obtained, as applicable, material project documents, agreements and governmental, regulatory and environmental permits and authorizations related to the project;
(d)	having obtained the intercreditor agreement in respect of the streaming facility; and
(e)	having put in place the security package over all of the assets determined in connection with the Bond Offering.

“Meeting the conditions precedent required to make the proceeds from the Bonds offering available proves an important Project financing milestone,” said Guy Bourassa, President and CEO of Nemaska Lithium. “As per our schedule relating to the various components of the $1.1B financing completed on last May 30, our first drawdown from the Bonds will occur once we have invested the proceeds from the equity offerings raised in respect of the project (USD 299M) as well as the USD 150M ensuing from the streaming agreement. The Project execution progresses well, namely as regards engineering, purchasing of long lead items and construction.”