Nemaska Lithium Inc. today announces important change in its management and provides an update regarding the restructuring efforts undertaken since obtaining protection under the Companies’ Creditors Arrangement Act on December 23rd, 2019. Change in Management The Board of Directors of Nemaska Lithium is announcing the departure of the [...]
Nemaska Lithium Inc. provides today an update on its restructuring efforts under the Companies’ Creditors Arrangement Act initiated on December 23, 2019 under the supervision of the Superior Court of Québec and PricewaterhouseCoopers Inc., as monitor of the business and financial affairs of the Corporation. Implementation of Sale and [...]
Nemaska Lithium Inc. announces a further reduction, today, of its workforce in connection with the ongoing process under the Companies’ Creditors Arrangement Act and its work aimed at formalizing an eventual plan of arrangement acceptable to its creditors and the Court. The 29-employee layoff is the result of a review of the essential [...]
Nemaska Lithium announces that its Board of Directors appointed Mr. Jacques Mallette as Chairman of the Board, effective January 19, 2020. Mr. Mallette has acted in capacity of Director of the Corporation since March 8, 2019. Mr. Mallette, who has more than 35 years of experience as chief executive officer , chief financial officer and director [...]
Nemaska Lithium Inc. announced today it has obtained from the Superior Court of Québec protection from creditors under the Companies’ Creditors Arrangement Act , to enable the Corporation to finalize its financing efforts in order to complete the construction and begin the operation of the Whabouchi project, following the previously [...]
Nemaska Lithium Inc. announced today that its Board of Directors has authorized the Corporation and its subsidiaries to bring an application in the Superior Court of Québec to seek protection from creditors under the Companies’ Creditors Arrangement Act to give the Corporation sufficient time to complete its re-financing efforts to [...]
Nemaska Lithium Inc. informs the market that the Superior Court of Québec has ordered the Corporation and the Nordic Trustee of the USD 350M nominal amount of the Senior Secured Bonds issued pursuant to the bond offering announced on May 10, 2018 , to cooperate so as to cause the escrow manager of the Bonds to distribute to Bondholders [...]
Efforts to complete an optimized project financing structure continue Project investment at both sites totals $392 million as at September 30, 2019 Temporary shutdown of activities will be completed shortly at the Whabouchi mine Phase 1 plant to fulfill last orders before beginning of the shutdown QUEBEC CITY, Nov. 15, 2019 -- Nemaska Lithium today [...]
• The Corporation needs to downsize by letting go of 64 employees • The Phase 1 Plant will cease operations at the end of December 2019 • Activities at Whabouchi will slow down until the winterization of the site QUEBEC CITY, Oct. 15, 2019 -- Nemaska Lithium Inc. is announcing that it must adjust the implementation of its project [...]
Nemaska Lithium and Pallinghurst making progress furthering the proposed financing and extend the exclusivity negotiation period until December 31, 2019, Pallinghurst expressed its continued commitment to work cooperatively with the Corporation and its principal shareholders to consider optimized capital structure Project Investment Totals CAD 361M [...]
Nemaska Lithium Inc. informs the market that it has been notified today of a notice published by Nordic Trustee AS who is holding in escrow the USD 350M proceeds from the Senior Secured Bonds . The notice states that a written Bondholders` resolution seeking approval of Bondholders to instruct Nordic Trustee AS to refrain from effecting, among [...]
• Nemaska Lithium informed the Nordic Trustee that it acknowledges the set-off of the Nominal Amount of the Senior Secured Bonds plus accrued interest • The Corporation filed an application with the Court seeking the discharge of the security which secured the Senior Secured Bonds • Pallinghurst confirms willingness to pursue its [...]