Nemaska Lithium Sells Its 15,849,455 Common Shares of Monarques

MONTRÉAL, May 15, 2020 (GLOBE NEWSWIRE) -- With the approval of the Superior Court of Québec, Nemaska Lithium Inc. (the “Corporation“) proceeded yesterday with the sale of all its 15,849,455 common shares of Monarch Gold Corporation (“Monarques”). The shares were sold at an average price of $0.225, for a total amount of approximately $3.5 million. These shares were not subject to any security and their sale has enabled the Corporation to generate additional liquidity for the ongoing restructuring process under the Companies’ Creditors Arrangement Act (CCAA).

More information regarding the Corporation’s situation, decisions or actions will continue to be provided on an ongoing basis, as required by applicable law or as may be determined by the Corporation or the Court. For more information, visit www.nemaskalithium.com. You can also refer to the Monitor’s website for more information regarding the CCAA procedures at 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.

Cautionary Statement on Forward-Looking Information

All statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to the CCAA proceedings and the Corporation’s activities and its ability to meet its obligations, constitute “forward-looking information” and “forward-looking statements” within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Certain important assumptions by the Corporation in making forward-looking statements include, but are not limited to, the achievement of a Court-approved arrangement under the CCAA to allow the resumption of the project construction and engineering activities.