NMG Advances Toward Additional EV Battery Material Offtakes, Details Capital Strategy For Phase-2 Financing, Reports $88M Cash On Hand
Portfolio Pulse from Benzinga Newsdesk
NMG is advancing its EV battery material offtakes and detailing its capital strategy for Phase-2 financing. The company has $88M cash on hand and is engaging with tier-1 EV and battery manufacturers for additional offtake agreements. NMG is also working with Société Générale and BMO Capital Markets to refine its capital structure for Phase-2 project financing. The company has issued its 2023 ESG Report and closed a $37.5M private placement with Mitsui and Pallinghurst.
May 15, 2024 | 12:17 pm
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NMG is making significant progress in securing additional EV battery material offtakes and refining its capital strategy for Phase-2 financing. The company has $88M cash on hand and is actively engaging with tier-1 EV and battery manufacturers. NMG has also closed a $37.5M private placement with Mitsui and Pallinghurst.
NMG's advancements in securing additional offtake agreements and refining its capital strategy for Phase-2 financing are positive indicators for the company's future revenue streams and financial stability. The $88M cash on hand and the $37.5M private placement further strengthen its financial position.
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