Nemaska Lithium Completes Acquisition of Shawinigan Facilities, Quebec

Nemaska Lithium Inc. (TSXV:NMX,OTCQX:NMKEF) announced the closing of the purchase agreement with Société de développement Shawinigan for the part of the land and the selected existing buildings of the former Resolute Forest Products’ Laurentide plant in Shawinigan, Quebec.
As quoted in the press release:

The Shawinigan Site will house Nemaska Lithium’s Phase 1 Plant and the future Commercial Hydromet Plant that will convert spodumene concentrate into high purity lithium hydroxide and lithium carbonate. The purchase price of $2M is to be paid in two instalments, a first tranche of $300,000 and a second tranche of $1.7M. The first tranche was put in escrow at the signature of the purchase agreement and should be released once the Corporation receives the construction permit for the Phase 1 Plant. The second tranche will be paid closer to the construction start date of the Commercial Hydromet Plant, once the construction permits are obtained.

Nemaska Lithium selected the site for several key factors including:

• excellent quality and state of existing buildings, significantly reducing capital costs and time over new construction options;
• existing and ready to use infrastructure required for the operation, including natural gas, electric power station and railway; and finally
• proximity of Shawinigan to the Whabouchi mine site, keeping concentrate transportation costs low.

Nemaska Lithium Director of Environmental and Social Responsibility, Simon Thibault, stated:

We expect to create approximately 100 skilled jobs in Shawinigan starting with the Phase 1 Plant and then the Commercial Hydromet Plant to follow. Now that we are the owner of the site, we look forward to speaking with the people of Shawinigan on how this project will benefit the area and create new opportunities and economic growth.

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