- Nouveau Monde Graphite (NOU) is implementing a share consolidation
- One post-consolidation common share will be equivalent to ten pre-consolidation common shares
- The post-consolidation common shares are expected to commence trading on the TSX Venture Exchange on or about March 31
- Nouveau Monde is developing advanced carbon-neutral solutions of graphite-based materials for the rapidly expanding fuel cell and lithium-ion battery markets
- Nouveau Monde (NOU) opened trading at C$2.06 per share
Nouveau Monde Graphite (NOU) is implementing a consolidation (reverse stock split) of its outstanding common shares.
One post-consolidation common share will be equivalent to ten pre-consolidation common shares.
On behalf of the Board of Directors, Arne H Frandsen, the Chairman of Nouveau Monde, commented,
“First of all, the entire board wishes to thank our shareholders for their vote of confidence in our management and strategic direction. To receive over 98% of the votes in favour of any shareholder resolution is a privilege – thank you!
The agreed share consolidation is a significant step that positions us for the potential U.S. stock exchange listing we have been considering. We believe a U.S. listing would both enhance our global visibility as well as our U.S presence specifically.
In turn, this will benefit our business and shareholder base as we seek to execute on our strategy of becoming the Western World’s largest producer of high-quality anode materials to be used mainly in batteries for electrical vehicles and renewable energy storage.”
The consolidation took effect on March 24, 2021. The post-consolidation common shares are expected to commence trading on the TSX Venture Exchange beginning at the open of markets on or about March 31, 2021.
Prior to the consolidation, there were 370,558,932 common shares issued and outstanding. It is expected that there will be 37,055,893 common shares issued and outstanding following the consolidation, subject to rounding for any fractional shares.
No fractional shares will be issued as a result of the share consolidation and the number of post-consolidation shares to be received by a shareholder will be rounded up, in the case of a fractional interest that is 0.5 or greater or rounded down, in the case of a fractional interest that is less than 0.5.
Registered shareholders will receive a letter of transmittal notifying them of the share consolidation and instructing them to surrender their share certificates representing pre-consolidation common shares for replacement certificates representing their post-consolidation common shares.
Until surrendered for exchange, each share certificate formerly representing pre-consolidation shares will be deemed to represent the number of whole post-consolidation shares to which the holder is entitled as a result of the consolidation.
Nouveau Monde is working towards developing a fully-integrated source of green battery anode material in Québec, Canada. The company is developing advanced carbon-neutral graphite-based material solutions for the growing lithium-ion and fuel cell markets.
Nouveau Monde (NOU) opened trading at C$2.06 per share.