Nemaska Lithium is Granted Court Approval of the Sale Proposal from Orion Mine Finance, Investissement Québec and The Pallinghurst Group - Seite 2

The Approval and Vesting Order will enable Residual Nemaska Lithium to submit a joint plan of compromise and arrangement and to call a creditors’ meeting to vote on such plan. Such meeting will be called shortly after the closing of the Transaction.

The Excluded Assets include, among other things, 15,000,000 common shares in the capital of Vision Lithium Inc. currently held by the Corporation, which, based on the closing price of such shares on the TSX Venture Exchange on October 14, 2020, are worth approximately $525,000. Unfortunately, based on the terms of the Transaction and the consideration to be received by Residual Nemaska Lithium, holders of the Corporation’s shares will not receive any payments for, or distributions on, their shares in connection with the CCAA proceedings, nor will they hold any interest in New Nemaska Lithium following the completion of the plan of compromise or arrangement.

Exchange of shares

The Exchange will occur on the date that is four business days before the closing date of the Transaction. At the same time all issued and outstanding options, warrants or other securities of the Corporation (including securities convertible, exchangeable or exercisable for shares of the Corporation) shall be canceled for no consideration. Following the Exchange, each share certificate (or other evidence of ownership of shares of the Corporation) representing shares of the Corporation shall be deemed to represent for all purposes the same number of common shares of Residual Nemaska Lithium. Accordingly, shareholders will not be required to surrender their share certificates representing shares of the Corporation and in the context of the Transaction, since there is no residual value for shareholders, no action is required from shareholders to complete the Exchange.

The Corporation will confirm by press release once the Exchange occurs. All non-residents of Canada should determine with their own tax advisors if any tax filings are required related to the disposition having regards to their own circumstances.

Tax Considerations of the Exchange

The following section provides a general summary of certain Canadian federal tax considerations to beneficial owners of common shares of the Corporation (the “Shares”) who, for the purposes of the Income Tax Act (Canada) (the “Tax Act”) and at all relevant times, are or are deemed to be resident in Canada hold their shares as capital property, deals at arm’s length and are not affiliated with Residual Nemaska Lithium (“Canadian Holders”).