Nemaska Lithium Inc. (the “
Corporation”) (TSX:
NMX) (OTCQX: NMKEF) (Frankfurt: N0T) is pleased to announce that it
has modified and expanded its existing long-term supply agreement
(announced May 11, 2016) for battery grade lithium hydroxide with
Johnson Matthey Plc (LSE: JMAT) (www.matthey.com).
Under this amended agreement, Nemaska Lithium
agrees to supply Johnson Matthey, on a take-or-pay basis and
through its wholly-owned subsidiary Nemaska Lithium Shawinigan
Transformation Inc., a total of 61,000 tonnes of lithium hydroxide
produced at the Corporation’s commercial plant in Shawinigan, for
an initial 10-year supply period scheduled to start in 2021.
Nemaska Lithium is entitled, if ever necessary, to reschedule the
commencement of the supply period within certain parameters set out
in the agreement and based on the anticipated commissioning,
ramping up and production start date for the Shawinigan plant.
To date, Johnson Matthey received over 80 tonnes
of battery grade lithium hydroxide solution from Nemaska Lithium’s
Phase 1 Plant in Shawinigan and started receiving lithium hydroxide
monohydrate earlier this month.*
Guy Bourassa, President and CEO of Nemaska
Lithium said, “Johnson Matthey has been a long-term and valued
partner and customer of Nemaska Lithium. Our relationship began in
2015/2016 with the financing and construction of the Phase 1 Plant
and we are delighted to be expanding on our initial commercial
supply contract.”
*Production from the Phase 1 Plant is not
included in the commercial supply agreement announced today.
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 and lithium carbonate. 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 will be operating the Whabouchi
mine in Québec, Canada, one of the richest lithium spodumene
deposits in the world, both in volume and grade. The spodumene
concentrate produced at the Whabouchi mine will be processed at the
Shawinigan plant using a unique membrane electrolysis process for
which the Corporation holds several patents.
The Corporation is a member of the S&P/TSX
SmallCap Index, S&P/TSX Global Mining Index, S&P/TSX Global
Base Metals Index, S&P/TSX Equal Weight Global Base Metals
Index, and the MSCI Canada Small Cap Index. For more information,
visit www.nemaskalithium.com or twitter.com/Nemaska Lithium.
About Johnson Matthey
Johnson Matthey is a global leader in science
that enables a cleaner and healthier world. With over 200 years of
sustained commitment to innovation and technological breakthroughs,
we improve the performance, function and safety of our customers’
products. Our science has a global impact in areas such as low
emission transport, pharmaceuticals, chemical processing and making
the most efficient use of the planet’s natural resources. Today
more than 14,000 Johnson Matthey professionals collaborate with our
network of customers and partners to make a real difference to the
world around us. For more information, visit
www.matthey.com
Inspiring science, enhancing life
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 completion of the construction of
the Whabouchi mine and the Shawinigan plant, the commissioning,
ramping up and the start of production at the Whabouchi mine and
Shawinigan plant sites, 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 obtaining of the additional capital
required to fulfill the conditions precedent to receive the
remaining proceeds from the project financing, being the second
tranche payment under the Streaming facility and the Bonds offering
proceeds, and to allow the Corporation to complete construction of
the Whabouchi mine and Shawinigan plant, and ultimately commence
production at both sites.
Forward-looking statements contained in this
press release include, without limitation, those related to (i) the
supply by the Corporation of a total of 61,000 tonnes of lithium
hydroxide produced at the Shawinigan plant, (ii) the start of
supply in 2021 and the Corporation’s entitlement to postpone same,
and (iii) generally, the above “About Nemaska Lithium” paragraph
which essentially describes the Corporation’s outlook.
Forward-looking statements are based on expectations, estimates and
projections as of the time of this press release. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by the Corporation as
of the time of such statements, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. These estimates and assumptions may prove to be
incorrect.
Many of these uncertainties and contingencies
can directly or indirectly affect, and could cause, actual results
to differ materially from those expressed or implied in any
forward-looking statements. There can be no assurance that the
Whabouchi mine and/or the electrochemical plant in Shawinigan will
be commissioned and will begin production, as future events could
differ materially what is currently anticipated by the
Corporation.
By their very nature, forward-looking statements
involve inherent risks and uncertainties, both general and
specific, and risks exist that estimates, forecasts, projections
and other forward-looking statements will not be achieved or that
assumptions do not reflect future experience. Forward-looking
statements are provided for the purpose of providing information
about management’s expectations and plans relating to the future.
Readers are cautioned not to place undue reliance on these
forward-looking statements as a number of important risk factors
and future events could cause the actual outcomes to differ
materially from the beliefs, plans, objectives, expectations,
anticipations, estimates, assumptions and intentions expressed in
such forward-looking statements. All of the forward-looking
statements made in this press release are qualified by these
cautionary statements and those made in our other filings with the
securities regulators of Canada including, but not limited to, the
cautionary statements made in the “Risk Factors” section of the
Corporation’s Annual Information Form dated October 10, 2018, and
the “Risk Exposure and Management” section of the Corporation’s
quarterly Management Discussion & Analysis. The Corporation
cautions that the foregoing list of factors that may affect future
results is not exhaustive, and new, unforeseeable risks may arise
from time to time. The Corporation disclaims any intention or
obligation to update or revise any forward-looking statements or to
explain any material difference between subsequent actual events
and such forward-looking statements, except to the extent required
by applicable law.
Further information regarding Nemaska Lithium is
available in the SEDAR database (www.sedar.com) and on the
Corporation’s website at: www.nemaskalithium.com.
FOR FURTHER INFORMATION, PLEASE
CONTACT:
Victor CantoreInvestor Relations514
831-3809victor.cantore@nemaskalithium.com |
Wanda
Cutler Investor Relations416 303-6460
wanda.cutler@nemaskalithium.com |
Gabrielle TellierMedia
Relations819 533-0080gabrielle.tellier@nemaskalithium.com