Nemaska Lithium Progresses in its Restructuring Efforts Under the CCAA - Seite 2

The settlement, which is conditional upon its formal approval by Bondholders holding in excess of two thirds of the principal amount of the Bonds and by the Court, is a meaningful progress in the Corporation’s restructuring efforts under the CCAA. The Bondholders are set to hold a Bondholders’ meeting on February 12, 2020, to vote on the proposal. The Corporation has filed an application with the Court to seek approval of the settlement and expects that such application will be heard by the Court on February 13, 2020.

For further information regarding the Court case with the Bondholders, please consult Nemaska Lithium’s press releases dated September 17, 2019, September 25, 2019, and December 5, 2019.

Claims Procedure Begins in Collaboration with the Monitor

The Corporation today obtained an order from the Court that approves Nemaska Lithium’s proposed claims procedure in order to proceed as soon as possible with the review and determination of the number and quantum of claims against the Corporation and its subsidiaries, as well as their directors and officers. Pursuant to the Claims Procedure Order of the Court, persons having claims against the Corporation, its subsidiaries, and their directors and officers must file their proofs of claim at the latest on March 31, 2020, failing which these persons will be barred from asserting their claims.

For further information regarding the claims procedure, please consult the Monitor’s website: https://www.pwc.com/ca/en/services/insolvency-assignments/nemaska-lith ....

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.

The Corporation intends to operate the Whabouchi mine in Québec, Canada, one of the richest lithium spodumene deposits in the world, both in volume and grade, and the spodumene concentrate to be produced thereat will thereafter be processed at the Shawinigan plant using a unique membrane electrolysis process for which the Corporation holds several patents.