Nemaska Lithium Achieves Milestone for Ressources Quebec CDN$5M and JMBM CDN$6M Payment Installments for Phase 1 Plant

Nemaska Lithium Inc. (TSXV:NMX,OTCQX:NMKEF) announced that it has reached a key milestone for the Phase 1 Plant project.
As quoted in the press release:

The City of Shawinigan has obtained the zoning approval necessary for permitting the site that will house Nemaska Lithium’s Phase 1 Plant and the future Commercial Hydromet Plant. With the completion of this milestone Nemaska Lithium has received the second $5M tranche from Ressources Québec Inc., a subsidiary of Investissement Québec, acting as a mandatary for the government of Québec. In addition, the Corporation has received the first installment of $6M from Johnson Matthey Battery Materials (JMBM).

Nemaska Lithium President and CEO, Guy Bourassa, stated:

Our next steps will be to refurbish the building to meet our Phase 1 Plant needs. We have spoken to our electrolyser supplier and we expect to receive the units in the fall of this year, which is in line with our expectations. We are anticipating to be in start-up mode in December 2016 with commissioning in Q1 2017 and commercial samples to follow.

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