E-Power Resources (CSE:EPR) focuses on developing new graphite resources to supply the growing demand for electric vehicle (EV) manufacturing. With projects located in Quebec and a highly experienced management team, E-Power is well-positioned to help bolster the North American graphite supply chain.
Graphite is the dominant component in anodes used in lithium-ion batteries for EVs. This growing need for graphite puts E-Power in an ideal position to develop new projects and support the growing market. With only one small graphite producer in North America, E-Power has a significant opportunity to become a new supplier of this vital mineral.
The company’s flagship asset, the Tetepisca Property, covers 12,620 hectares and is in the emerging Tetepisca Graphite District, one of North America's largest potential suppliers of graphite. The project is approximately 200 kilometers from Innovation et Development Manicouagan’s (IDM) planned 200,000-ton-per-year battery anode manufacturing facility at Baie-Comeau in Quebec. This proximity allows E-Power Resources to supply graphite for the new plant.
E-Power’s Turgeon project covers 18,366 hectares on the Abitibi Greenstone Belt. The company has completed a high-resolution airborne magnetic and electromagnetic survey covering the complete property and has interpreted several targets to be tested for gold and copper/zinc mineralization. The company has optioned out some of the claims and is currently evaluating options to fully explore and capitalize on the asset’s potential for gold and base metals.
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With its flagship project located in Quebec, one of the best mining jurisdictions in the world, and a highly experienced management team, E-Power is well-positioned to help bolster the North American graphite supply chain, offering a compelling investment proposition.
E-Power Resources (CSE:EPR) is a battery materials exploration and development company focusing on developing new graphite resources to supply the growing demand for electric vehicle (EV) manufacturing.
Graphite is the dominant component in anodes used in lithium-ion batteries for EVs. This growing need for graphite puts E-Power in an ideal position to develop new projects and support the growing market.
Graphite is also used throughout the manufacturing industry, from foundries to lubricants, and increasing demand from the EV and battery sectors can potentially stretch the graphite supply chain for the manufacturing industry. With only one small graphite producer in North America, E-Power has a significant opportunity to provide the industry with new sources of this vital material.
The company’s flagship asset, the Tetepisca property, covers 12,620 hectares and is in the emerging Tetepisca Graphite District, one of North America's largest potential suppliers of graphite. The project is approximately 200 kilometers from Innovation et Developpement Manicouagan’s (IDM) planned 200,000-ton-per-year battery anode manufacturing facility at Baie-Comeau in Quebec. This proximity enables E-Power the opportunity to provide graphite resources for the new plant. Baie-Comeau is also a port with easy maritime links to European and other North American battery production.
An experienced management team with expertise in geology, corporate finance and capital markets throughout the mining industry leads the company toward its goal of becoming a leading graphite resource supplier in North America.
The flagship Tetepisca Graphite Project consists of 230 claims totaling 12,620 hectares in the Tetepisca Graphite District. The project is in Quebec, a mining-friendly jurisdiction, and 215 kilometers from a planned anode manufacturing facility in Baie-Comeau, Quebec. Tetepisca is ideally positioned to supply the market with graphite resources as the development proceeds.
James Cross is a management consultant with capital markets experience in North America, Europe, the Middle East and South Asia. He served as president and CEO of Canadian Gold Resources, Ltd. from 2012–2017. In 2017, Canadian Gold Resources was sold to Colibri Resources (TSXV:CBI) on a share transaction basis valued at $4 million. He also served as director and vice-president of corporate development for Adroit Resources from 2010 to 2011, then listed on the TSX Venture Exchange. He has also acted as a consultant to a number of resource companies. In 1989, he earned a Bachelor of Science in Management from the A.B Freeman School of Business, Tulane University.
Jamie Lavigne is an economic geologist with over 30 years of experience who has participated in several successful exploration and mine development projects. He has held senior positions with major Canadian and Australian mining companies, exploration and management roles with several junior exploration companies, and operates a geological services and consulting company. Lavigne holds a Bachelor of Science from Memorial University of Newfoundland, and a Master of Science from the University of Ottawa and is a member of L’Ordre des Géologues du Quebec and the Northwest Territories and Nunavut Association of Professional Engineers and Geoscientists.
Paul Haber has been involved in corporate finance and capital markets for over 20 years. He has served as the CFO and audit committee chair of many public and private companies. Some of the boards Haber has sat on include: XTM (CSE:PAID), South American Silver (TSX:SAC), Migao Corporation (TSX:MGO), China Health and Diagnostics. (TSXV:CHO), High Desert Gold (TSXV:HDG), and IND Dairytech (TSXV:IND). Haber has also served as the CFO of various public companies including, Oremex Gold (TSXV:OAG), SEL Exchange (TSXV:SEL) and Migao Corporation (TSX:MGO). Haber started his career with Coopers & Lybrand (now PricewaterhouseCoopers LLP). He is both a chartered accountant and a certified public accountant, with an Honors Bachelor of Arts in management from the University of Toronto. Haber was awarded his chartered director designation from the DeGroote School of Business in partnership with the Conference Board of Canada.
E-Power Resources Inc. (CSE: EPR) ("E-Power" or the "Company") is pleased to report additional results from the 2024 exploration program on the Company's flagship Tetepisca flake graphite property located in the North Shore region of Québec.
Highlights include:
James Cross, President and CEO of E-Power commented: The early stage exploration work completed during the 2024 exploration season has clearly demonstrated the graphite potential of our northern claims. The second phase of prospecting has extended extended mineralized trends coincident with conductors derived from airborne surveys and has discovered new zones. We anticipate implementing an aggressive program in 2025 to follow up and advance these discoveries and demonstrate the large tonnage potential of the property. Work on our advanced targets on the southern claims has returned Cg grades consistent with, and above, the district average Cg resource grade and graphite concentrates grades up to 96.5% Cg.
Early Stage Exploration
Early stage exploration completed during the 2024 exploration season was focused on evaluating selected conductors and conductor trends on the northern part of the property derived from interpretation of the Company's airborne electromagnetic survey completed in 2022. Exploration during Phase 1 of the program resulted in the discovery of high grade graphitic metasedimentary rocks coincident with 3 conductor trends (see news release dated August 1, 2024). Geological and geophysical prospecting completed during Phase 2 of the early stage exploration program successfully extended mineralized trends and discovered additional graphite mineralization coincident with previously untested targets, Forty-four samples were taken during Phase 2, 38 of which returned analyses greater than 1% Cg, 22 returned values greater than 5% Cg, and 13 samples returned Cg values greater than 15%. The location of the 2024 early stage exploration area is indicated in Map 1 and the results are presented in Map 2.
Map 1: Tetepisca Graphite District VTEM Conductivity Map
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Advanced Exploration and Evaluation
E-Power has prioritized 3 graphite showings located on the southern part of the Tetepisca property for advanced exploration and evaluation. During the 2024 campaign a total of 1,037 kilograms (1.037 tonnes) comprising four bulk samples from three graphite showings (2 samples taken from the Graphi West target area) were collected (locations of showings indicated on Map 1). Field duplicates, consisting of 2 to 3 kg taken from each of the bulk sample excavation sites, returned Cg values that are consistent with and above the average resource Cg grade in the Tetepisca district (approximately 14% Cg). The results are presented in the table below. Work in progress on these samples includes mineralogy studies utilizing reflected and transmitted light petrography and a Scanning Electron Microscope and metallurgical test work. Preliminary mineralogy results document the common occurrence of large to jumbo size graphite flakes which are free of inclusions. Results of metallurgical test work include Graphite concentrate grades of 96.5 % from the Syndicate showing and 96.4% from the Captain Cosmos showing.
Map 2: North Tetepisca Target Area
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Table 1: Cg Results from Advanced targets and comparison with historical results
| Graphite Showing (sample) | Historical Result | Field Duplicate | |
| Sample Wt. | C Graphitic | ||
| C % | kg | % | |
| Captain Cosmos | 29.07 | 2.46 | 30.00 |
| Syndicate | 12.00 | 2.44 | 13.20 |
| Graphi West A | 19.80 | 2.56 | 17.55 |
| Graphi West B | not previously sampled | 2.48 | 16.65 |
About the Tetepisca Property
The Tetepisca Property is located approximately 220 km north of the town of Baie-Comeau in the North Shore Region of Québec. The property consists of 230 claims covering an area of approximately 12,620 hectares within the emerging Tetepisca Graphite District ("TGD"). The TGD is an active graphite exploration and development district with delineated measured and indicated resources in excess of 120 Mt at an average grade of approximately 14% Cg. The Company's Tetepisca property is strategically located over continuous bedrock conductive horizons that are known and interpreted to be due to graphite and which hold significant potential to host flake graphite resources. The intersection of graphite in our 2023 drilling and the results of our 2024 exploration program to date confirms the Company's exploration model and provides the basis for continued exploration and evaluation.
Qualified Person
Jamie Lavigne, P. Geo, Vice President Exploration and Director for E-Power is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical information in this press release.
About E-Power
E-Power Resources Inc. is a Québec Corporation based in Montréal and focused on battery minerals exploration in Québec. The Company is currently advancing two projects; the Tetepisca property, located in the North Shore region of the Province and the Turgeon property located in the Abitibi region adjacent to the Ontario border. The Company's priority target is flake graphite on the Tetepsica Property. The Turgeon property is located in the prolific Abitibi gold and base metal mining district and the Company is evaluating Turgeon primarily for its copper-zinc and gold potential.
For more information about E-Power Resources Inc. please visit the Company website at: e-powerresources.com
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.
For information contact: James Cross, CEO, Tel: (438) 701-3736, info@e-powerresources.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225869
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E-Power Resources Inc. (CSE: EPR) ("E-Power" or the "Company") is pleased to announce the voting results from the Company's Annual General and Special Meeting ("Meeting") held on September 6, 2024. A total of 21,672,022 common shares were voted, representing approximately 53.37 % of total shares issued and outstanding as at the record date of the Meeting.
The following nominees for election as directors of the Company were elected by a majority of votes cast by the shareholders virtually present or represented by proxy at the Meeting:
| Number of Directors | Votes For | % Votes For | Votes Against | % Votes Against |
| Number of Directors to be set at four | 21,672,072 | 100 | 0 | 0 |
| Election of Directors | Votes For | % Votes For | Votes Against | % Votes Against |
| Jamie Lavigne | 18,839,572 | 86.93 | 2,832,450 | 13.07 |
| Michael Danielsson | 14,495,572 | 66.89 | 7,176,450 | 33.11 |
| William Pfaffenberger | 17,789,572 | 82.09 | 3,882,450 | 17.91 |
| Gabriel Erdeleyi | 17,789,572 | 82.09 | 3,882,450 | 17.91 |
| Appointment of Auditor | Votes For | % Votes For | Votes Against | % Votes Against |
| To re-appoint SHIM & Associates LLP, Chartered Professional Accountants appointed as auditors of the Company for the ensuing year and authorizing the directors to fix remuneration | 17,782,579 | 94.43 | 1,050,000 | 5.57 |
| Company's Stock Option Plan | ||||
| To approve all options, rights or entitlements pursuant to the Company's Stock Option Plan | 21,672,022 | 100 | 0 | 0 |
| Company's Restricted Unit Plan | ||||
| To approve all options, rights or entitlements pursuant to the Company's Restricted Share Unit | 18,839,572 | 100 | 0 | 0 |
| Company's Advance Notice Provisions | ||||
| To approve the Company's Advance Notice Provisions | 17,789,572 | 94.43 | 1,050,000 | 5.57 |
Advisors
Norton Rose Fulbright Canada LLP acted as special legal counsel to E-Power Resources Inc. in connection with certain dissident shareholder actions in connection with the Meeting.
About E-Power Resources Inc.
E-Power Resources Inc. is an exploration stage company engaged principally in the acquisition, exploration, and development of graphite properties in Quebec. Its flagship asset, the Tetepisca Graphite Property, is located in the Tetepisca Graphite District of the North Shore Region of Quebec, approximately 215 kilometers from the Port of Baie-Comeau. For further information, please refer to the Company's disclosure record on SEDAR (www.sedar.com) or contact the Company by email at info@e-powerresources.com.
On Behalf of the Board of Directors
James Cross
President & CEO
+1 (438) 701-3736
info@e-powerresources.com
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance are "forward-looking statements". These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The CSE has not reviewed, approved or disapproved the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222594
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E-Power Resources Inc. (CSE: EPR) ("E-Power" or the "Company") is pleased to report results from the first phase of the 2024 exploration program on the Company's flagship Tetepisca flake graphite property located in the North Shore region of Québec. Highlights include the discovery of graphite bearing metamorphic rocks along three conductor trends which include a high of 31 % Cg (Graphite Carbon) from an outcrop grab sample and a sample of proximal float rock which returned a value of 24.8% Cg from a 4th conductor target area.
James Cross, President and CEO of E-Power commented:"We are completing metallurgical and mineralogical chacterization studies on our Tetepisca Property to determine product quality and applicability to end users. At the same time, we are conducting a propecting program focussed on the northern end of our property. The prospecting is to evaluate our large land position in an effort to demonstrate large tonnage potential in multiple target areas. The results of the prospecting completed to date, including high grade grab samples, are very enouraging. We look forward to the metallurgical test work results as well as continued success in the field program through the 2024 exploration campaign."
Exploration Update
The 2024 exploration program being completed on the tetepisca property includes:
E-Power collected a total of 1,037 kilograms (1.037 tonnes) comprising four bulk samples from three graphite showings (2 samples taken from the Graphi West target area) on the Tetepisca property (locations of showings indicated on Map 1). Metallurgical testwork including production of graphite concentrates and graphite flake size distribution analysis is underway at Volt Carbon Technologies Inc.'s dry separation facility in Scarborough, Ont. Whole rock major and trace element geochemistry on field duplicates of the 4 samples is in progress at ALS Geochmistry in Val d'Or, Quebec and will also be completed on representative splits of the 4 x 250 kg samples as received by Volt Technologies. Mineralogy studies are also underway which includes reflected and transmitted light petrography on a total of 12 thin sections. The Company anticipates completing further detailed mineral compositions and graphite textural analysis utilizing a Scanning Electron Microscope ("SEM"). Consulting geologist Allan Miller, PhD, P.Geo, is managing and completing the mineralogy studies.
Geological and geophysical prospecting been completed on a limited area of the northwestern most claims and has confirmed three previously targeted and prioritized conductive trends to be graphite bearing (see map 2). A total of 32 grab samples from outcrop were analyzed for Cg. Twenty-two of the 32 samples contained Cg greater than 1 %, 20 samples contained Cg concentration greater than 7% Cg, and 13 samples contained greater than 10 % Cg. The highest grade samples contained 31.0 and 34.8 % Cg.
About the Tetepisca Property
The Tetepisca Property is located approximately 220 km north of the town of Baie-Comeau in the North Shore Region of Québec. The property consists of 230 claims covering an area of approximately 12,620 hectares within the emerging Tetepisca Graphite District ("TGD"). The TGD is an active graphite exploration and development district with delineated measured and indicated resources in excess of 100 Mt at an average grade of 14% Cg. The Company's Tetepisca property is strategically located over continuous bedrock conductive horizons that are known and interpreted to be due to graphite and which hold significant potential to host flake graphite resources. The intersection of graphite in our 2023 drilling and the results of our 2024 exploration program to date confirms the Company's exploration model and provides the basis for continued exploration and evaluation.
Qualified Person
Jamie Lavigne, P. Geo, Vice President Exploration and Director for E-Power is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical information in this press release.
About E-Power
E-Power Resources Inc. is a Québec Corporation based in Montréal and focused on battery minerals exploration in Québec. The Company is currently advancing two projects; the Tetepisca property, located in the North Shore region of the Province and the Turgeon property located in the Abitibi region adjacent to the Ontario border. The Company's priority target is flake graphite on the Tetepsica Property. The Turgeon property is located in the prolific Abitibi gold and base metal mining district and the Company is evaluating Turgeon primarily for its copper-zinc and gold potential.
For more information about E-Power Resources Inc. please visit the Company website at: e-powerresources.com.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.
For information contact: James Cross, CEO, Tel: (438) 701-3736, info@e-powerresources.com.
Map 1: Tetepisca Graphite District VTEM Conductivity Map
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Map 2: North Tetepisca Target Area
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218562
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E-Power Resources Inc (CSE: EPR) ("E-Power" or the "Company") announces that it has closed the flow-through non-brokered private placement (the "FT Offering") previously announced on July 24, 2024.
An aggregate of 1,250,000 units (the "FT Units") of the Company were issued in the FT Offering at a price of $0.08 per FT Unit for gross proceeds of $100,000, each FT Unit being comprised of one common share in the capital of the Company (each a "Common Share") and one common share purchase warrant (each a "Warrant"), each Warrant entitling its holder thereof to acquire one additional common share (each a "Warrant Share") at a price of $0.12 per Warrant Share for a period of 5 years. All securities issued as part of the closing of the FT Offering, including any shares that may be issued pursuant to the exercise of the Warrant Shares, are subject to a hold period in Canada until November 25, 2024, being four months and one day from the closing of the FT Offering, in accordance with applicable Canadian securities legislation.
Net proceeds from the FT Offering will be used by the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures", as defined in subsection 127(9) of the Income Tax Act (Canada) and under section 359.1 of the Taxation Act (Quebec) (the "Qualifying Expenditures"), related to the Company's Tetepisca Graphite Property, located in the Tetepisca Graphite District of the North Shore Region of Quebec on or before December 31, 2025. All Qualifying Expenditures will be renounced in favour of the subscribers to the FT Offering effective December 31, 2024. In addition, with respect to Quebec resident subscribers of FT Shares and who are eligible individuals under the Taxation Act (Quebec), the Canadian exploration expenses will also qualify for inclusion in the "exploration base relating to certain Quebec exploration expenses" within the meaning of section 726.4.10 of the Taxation Act (Quebec) and for inclusion in the "exploration base relating to certain Quebec surface mining expenses or oil and gas exploration expenses" within the meaning of section 726.4.17.2 of the Taxation Act (Quebec).
No Insiders of the Company participated in this FT Offering.
The Company paid finders' fees to Qwest Fund Management Ltd. ("Qwest"). Qwest received a cash commission of $8,000. In addition, Qwest received 100,000 broker warrants, with each Warrant entitling its holder thereof to purchase one Common Share of the Company at a price of $0.08 per Warrant Share for a period of 5 years.
The securities offered pursuant to the FT Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
About E-Power Resources Inc.
E-Power Resources Inc. is an exploration stage company engaged principally in the acquisition, exploration, and development of graphite properties in Quebec. Its flagship asset, the Tetepisca Graphite Property, is located in the Tetepisca Graphite District of the North Shore Region of Quebec, approximately 215 kilometers from the Port of Baie-Comeau. For further information, please refer to the Company's disclosure record on SEDAR (www.sedar.com) or contact the Company by email at info@e-powerresources.com.
On Behalf of the Board of Directors
James Cross
President & CEO
+1 (438) 701-3736
info@e-powerresources.com
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance are "forward-looking statements". These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The CSE has not reviewed, approved or disapproved the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218262
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E-Power Resources Inc. (CSE: EPR) ("E-Power" or the "Company") announces its intention to complete a non-brokered private placement to raise gross proceeds of C$100,000 (the "FT Offering").
Securities to be issued pursuant to the FT Offering shall consist of an amount of up to 1,250,000 units of the Company (the "FT Units") issued at a price of $0.08 per FT Unit, each FT Unit being comprised of one common share in the capital of the Company (each a "FT Share") that will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)), and one Warrant, each Warrant entitling its holder thereof to acquire one Warrant Share at a price of $0.12 per Warrant Share for a period of 5 years from the closing date of the FT Offering.
In connection with the FT Offering, the Company will pay a cash finder's fees totaling C$8,000 and will issue 8% broker warrants on portions of the FT Offering. The securities issued in connection with the FT Offering are subject to the applicable statutory four-month and one day hold period.
Net proceeds from the FT Offering will be used by the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures," as defined in subsection 127(9) of the Income Tax Act (Canada) and under section 359.1 of the Taxation Act (Quebec) (the "Qualifying Expenditures"), related to the Company's Tetepisca Graphite Property, located in the Tetepisca Graphite District of the North Shore Region of Quebec, on or before December 31, 2025. All Qualifying Expenditures will be renounced in favour of the subscribers to the FT Offering effective December 31, 2024. In addition, with respect to Quebec resident subscribers of FT Shares and who are eligible individuals under the Taxation Act (Quebec), the Canadian exploration expenses will also qualify for inclusion in the "exploration base relating to certain Quebec exploration expenses" within the meaning of section 726.4.10 of the Taxation Act (Quebec) and for inclusion in the "exploration base relating to certain Quebec surface mining expenses or oil and gas exploration expenses" within the meaning of section 726.4.17.2 of the Taxation Act (Quebec).
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the FT Shares and FT Units will be offered by way of private placement pursuant to applicable exemptions from NI 45-106. The FT Offering is expected to close on or about July 29, 2024 (the "Closing Date"), subject to the satisfaction or waiver of the customary closing conditions, including the approval of the Canadian Securities Exchange.
The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Option Grant
The Company also announces that 200,000 options have been awarded to certain directors. The options shall be valid for 5 years and carry a strike price of $0.12.
About E-Power Resources Inc.
E-Power Resources Inc. is an exploration stage company engaged principally in the acquisition, exploration, and development of graphite properties in Quebec. Its flagship asset, the Tetepisca Graphite Property, is located in the Tetepisca Graphite District of the North Shore Region of Quebec, approximately 215 kilometers from the Port of Baie-Comeau. For further information, please refer to the Company's disclosure record on SEDAR (www.sedarplus.ca) or contact the Company by email at info@e-powerresources.com.
On Behalf of the Board of Directors
James Cross
President & CEO
+1 (438) 701-3736
info@e-powerresources.com
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The CSE has not reviewed, approved or disapproved the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217564
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Nouveau Monde Graphite Inc. ("NMG" or the "Company") ( NYSE: NMG , TSX.V: NOU ) reports progress update on its multiple workstreams to bring its Phase-2 Matawinie Mine and Bécancour Battery Material Plant to a Final Investment Decision ("FID"). The Company is actively advancing its integrated feasibility study, engaging with its Anchor Customers Panasonic Energy Co., Ltd. ("Panasonic Energy"), a wholly owned subsidiary of Panasonic Holdings Corporation ("Panasonic") ( TYO: 6752 ), and General Motors Holdings LLC, a wholly owned subsidiary of General Motors Co. (collectively, "GM") ( NYSE: GM ), ongoing project financing activities, and preparing for the construction of its Phase-2 operations.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241115963747/en/
NMG's leadership poses with a battery-powered mining truck at Caterpillar's Tuscon Proving Ground in September. (Photo: Business Wire)
Arne H Frandsen, Chair of NMG, declared: "Our roadmap is laid out with key components aligning toward the establishment of North America's largest and fully integrated natural graphite production for the electric vehicle ("EV") and lithium-ion battery market. The team is relentless in diligently advancing the technical, commercial and financial deliverables to support a positive FID."
Eric Desaulniers, Founder, President, and CEO of NMG, stated: "Our focus on engineering, customer engagement, financing, and construction preparation is driving us closer to our goal of becoming a leading supplier of carbon-neutral active anode material. Our time-to-market window remains reasonable and the efforts we invest in refining our facilities and production parameters, CAPEX and OPEX projections, and execution strategy will bear fruit upon reaching FID. Our team, along with our Anchor Customers, strategic investors, lenders, and consultants, are rallied behind our objective of building a competitive, responsible, and quality ore-to-active-anode-materials operation to deliver value to the market and our shareholders."
Path to FID: Disciplined Approach to Commercial Launch
The Company is actively working on updating the feasibility study for its integrated ore-to-active-anode-material Phase 2. The Matawinie Mine is well advanced in regard to detailed engineering; work on that end focuses on updating cost projections to reflect the advancement in equipment selection, construction strategy, and economic conditions. In parallel, plans for the Bécancour Battery Material Plant are being updated to reflect Anchor Customers' product specifications, including production parameters, engineering and cost projections. The exercise aims at optimizing all aspects of the project, from technological trade-offs to equipment selection, energy efficiency and engineering, in order to design, finance, and build a competitive value-added operation. Management expects the results of the updated integrated feasibility study to be ready early in Q1-2025.
The Company is working closely with its Anchor Customers to advance the product qualification, project execution, commercial and corporate requirements associated with the respective offtake agreements with the objective of supporting Phase-2 development. This work involves the full review of Phase-2 plans, both technical and financial, to ensure that all key contractual components are aligned prior to launching Phase-2 construction and all conditions to the Anchor Customers' multi-year offtake obligations and additional equity subscription commitments can be met. Results from the updated feasibility study are among those key deliverables.
The Company's contracts with its Anchor Customers contain conditions precedent which require NMG to have made a positive decision with respect to FID and entered into certain other project-related agreements by certain fixed dates, failing which the Anchor Customers may terminate their contracts with the Company. Those dates will be exceeded. The Company and its Anchor Customers are working collaboratively toward FID and are in discussions to update the project timeline, including for the satisfaction of these conditions' precedent.
As the issuance of the updated feasibility study nears, NMG is accelerating financing activities in preparation for FID. Since the launch of project financing planning efforts, the Company has received cumulative expressions of interest totaling approximately $1.4 billion for its Phase-2 project financing comprised of potential lenders, Anchor Customers and institutional equity investors. Presentations, site visits, due diligence reviews, and regular meetings provide financial partners with visibility and comfort on the Company's project, execution strategy, and risk management.
The financing structure is set to include Panasonic and GM's respective Tranche-2 investments announced in February 2024 in conjunction with their respective offtake agreements. Upon a positive FID decision and meeting of established conditions, the Anchor Customers, directly or through an affiliate, or together with potential co-investors, would participate in future funding for a total amount valued at approximately US$275 million.
A third-party assessment of the Company's Phase-2 CAPEX eligibility to the new Canadian Investment Tax Credit for Clean Technology Manufacturing indicate a potential for securing approximately $350 million through this refundable tax credit. NMG is designing its capital structure to leverage such fiscal incentives along with strategic debt and equity facilities.
The Company is also furthering its project execution plan. NMG has awarded the Matawinie Mine's 120kV electrical substation contract to ABB . ABB will lead construction of the substation as the primary connection point between the mining site and Hydro-Québec's hydropower line, enabling full electrification of the Matawinie Mine using renewable energy. NMG will benefit from technical expertise and dedicated resources overseeing engineering, supply, commissioning, and start-up of the substation.
Complimentary procurement activities are being deployed in preparation of the first construction packages for tendering, including direct meetings with local and Indigenous businesses representatives to document the capacity, service offerings and availability of businesses in the region.
The Company's electrification program is making tangible progress. Hydro-Québec, which NMG has mandated to build and operate the 120-kV electrical line set to connect the Matawinie Mine to the provincial hydropower network, is now actively updating execution plans, meeting with landowners and key stakeholders, and preparing construction activities. The powerline is set to be operational in time for the Matawinie Mine commissioning phase.
In parallel, Caterpillar Inc. ("Caterpillar") continues to advance the development of zero-exhaust emission equipment for the mining industry, including NMG's Matawinie Mine. NMG participated in a site visit at Caterpillar's Tucson Proving Ground involving live field demonstrations of zero-exhaust emission Early Learner machines and prototypes, including battery-electric haulage and charging solutions in the 70 to 100-ton-class. NMG's technical team is actively collaborating with Caterpillar to support the development, testing and deployment of an integrated site solution for the Matawinie Mine covering the fleet, charging infrastructure, and operating site management.
Market Perspectives
The global supply of natural graphite remains robust, with China continuing to dominate the market. The overcapacity in China results in intense competition and a pressured market. Nonetheless, the prices for natural graphite continue their correction with a 11.2% year-to-date gain on the Benchmark Flake Graphite Price Index (Benchmark Mineral Intelligence, September 2024). The stability in pricing, coupled with the growing demand, indicates a healthy market outlook for natural graphite.
Indeed, the lithium-ion battery manufacturing for EVs and energy storage systems approaches the 10 TWh landmark by 2030 as gigafactories continue to be added to the pipeline (Benchmark Mineral Intelligence, October 2024). Anchor Customer Panasonic Energy announced strategic partnerships with Mazda and Subaru as part of its plans to supply of next-generation automotive lithium-ion batteries (Panasonic Energy, September 2024).
After surpassing 1 million EV sales for the first time in August 2024, September reached another record with 1.7 million EVs for a total of 11.5 million EVs year-to-date (Rho Motion, October 2024). Among the manufacturers supporting this trend is GM, which has been making significant progress on EV profitability, rising sales (60% year-over-year increase), and market share growth. GM has invested in a dedicated EV platform, U.S. battery cell manufacturing, and flexible assembly capacity to buttress its EV strategy (GM, October 2024).
Echoing the U.S. trade restrictions, Canada has announced a 100% surtax on Chinese-made EVs starting October 2024. The Canadian government is also exploring potential tariffs on graphite and other minerals, materials and products associated with the energy transition in response to Chinese trade practices in critical manufacturing sectors.
Market conditions remain favorable to NMG's business strategy, especially with long-term incentives and trade instruments from Western governments targeting onshoring and friendshoring of battery materials. Furthermore, NMG strongly believes in the eventual decoupling from China of the pricing for active anode material in North America based on geopolitical dynamics, ESG advantages and logistical gains.
Additional Corporate Development
Director Stephanie Anderson will be leaving the Company after two years. NMG thanks Stephanie for her tenure; her technical skillset and careful judgment have contributed significantly to the Company's development and sound governance.
The Company has appointed Stéphane Leblanc (ex-Rio Tinto), a senior mining executive with over 30 years of experience in the industry, to its Board of Directors .
In addition, NMG has recruited Karine Doucet to the position of Vice President, Human Resources. With over 20 years of experience in human capital management, Mrs. Doucet will lead the next phase of corporate and operational design for the Company's workforce with a view to strengthen talent acquisition and management, leadership development, and labor relations.
NMG continues to engage with First Nations and local communities to inform project execution and maximize local benefits. Discussions between NMG and the Atikamekw First Nation of Manawan are progressing well toward the adoption of an Impact and Benefit Agreement for the Matawinie Mine in line with the two previously signed agreements.
For the twelve-month rolling period ended September 30, 2024, NMG reported a total recordable injury frequency rate of 1.73 and severity rate of 0.86 at the Company's facilities. There were no environmental incidents during this period.
The period-end cash position stands at $56.5 million.
About Nouveau Monde Graphite
Nouveau Monde Graphite is an integrated company developing responsible mining and advanced manufacturing operations to supply the global economy with carbon-neutral active anode material to power EV and renewable energy storage systems. The Company is developing a fully integrated ore-to-battery-material source of graphite-based active anode material in Québec, Canada. With enviable ESG standards and structuring partnerships with anchor customers, NMG is set to become a strategic supplier to the world's leading lithium-ion battery and EV manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability. www.NMG.com
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Cautionary Note
Certain statements contained in this press release constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") within the meaning of Canadian and United States securities laws. Such statements reflect management's current beliefs and are based upon information currently available to it. Such forward-looking statements include but are not limited to statements regarding the future benefit from ABB's technical expertise, the projections about future operations, including reliance on hydroelectricity and becoming the world's first all-electric open-pit mine, the future engagement and potential economic benefits for the region, the implementation and integration of the four-season recreational center into the milieu, the future impact and success of the Matawinie Mine in reshoring efforts, the completion of the four-season recreational center adjacent to the Matawinie mining site, the services and impacts of the four-season recreational center, as will as the intended results of the initiatives described in this press release and those statements which are discussed under the "About Nouveau Monde" paragraph and elsewhere in the press release which describe the Company's outlook and objectives.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions are not guarantees of future performance and may prove to be incorrect. Moreover, these forward-looking statements are based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to obtain sufficient financing for the development of the Matawinie Mine and the Bécancour Battery Material Plant, the Company's ability to provide high-performing and reliable advanced materials while promoting sustainability and supply chain traceability, the consumers demand for components in lithium-ion batteries for EVs and energy storage solutions, the ability to operate in a safe and effective manner, the timely delivery and installation at estimated prices of the equipment supporting the production, assumed sale prices for graphite concentrate, the accuracy of any Mineral Resource estimates, future currency exchange rates and interest rates, political and regulatory stability, prices of commodity and production costs, the receipt of governmental, regulatory and third party approvals, licenses and permits on favorable terms, sustained labor stability, stability in financial and capital markets, availability of equipment and critical supplies, spare parts and consumables, the various tax assumptions, CAPEX and OPEX estimates, all economic and operational projections relating to the project, local infrastructures, the Company's business prospects and opportunities and estimates of the operational performance of the equipment.
Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, those risks, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company's assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company's businesses, including the changes in China's policy regarding restrictions on Chinese graphite materials exportations, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG's Annual Information Form dated March 27, 2024, including in the section thereof captioned "Risk Factors", which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov . Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company 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.
The market and industry data contained in this press release is based upon information from independent industry publications, market research, analyst reports and surveys and other publicly available sources. Although the Company believes these sources to be generally reliable, market and industry data is subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data-gathering process and other limitations and uncertainties inherent in any survey. The Company has not independently verified any of the data from third-party sources referred to in this press release and accordingly, the accuracy and completeness of such data is not guaranteed.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information regarding the Company is available in the SEDAR+ database ( www.sedarplus.ca ), and for United States readers on EDGAR ( www.sec.gov ), and on the Company's website at: www.NMG.com
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MEDIA
Julie Paquet
VP Communications & ESG Strategy
+1-450-757-8905 #140
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Marc Jasmin
Director, Investor Relations
+1-450-757-8905 #993
mjasmin@nmg.com
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Highlights
It is proposed that the Shares and Options under the Placement will be issued on 22 November 2024 and will be issued out of the Company’s available capacity under Listing Rules 7.1.
The Placement was managed by Evolution Capital. The costs associated with the Placement was a 6% fee on all funds raised. Evolution Capital will also receive 8,000,000 ATCOC options for managing the Placement.
The funds raised under the Placement will be used for:
Managing Director Mr Iggy Tan stated“We are encouraged by the strong market interest in our current initiatives. In August 2024, we conducted an Entitlements Issue at $0.04 per share that provided our existing shareholders with a fair opportunity to participate previously. The current placement at $0.06 per share represents a 50% premium over the recent Entitlements Issue price and Altech does not intend to conduct another Entitlement Issue at the higher price.
This capital raise comes at an exciting juncture for Altech as it advances the commercialisation of its 120MWh CERENERGY® battery project and nears commissioning of the Silumina Anodes™ pilot plant. A portion of the funds will also be allocated to a preliminary study for a larger 4 GWh battery facility, marking the next significant step towards commercialisation”.
The table below outlines the intended use of funds for the $4M raised via this placement.
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HIGHLIGHTS
The Company has entered into a funding agreement with the Department of Jobs, Tourism, Science and Innovation (JTSI) on behalf of the State Government of Western Australia for $4.5 million of the grant announced by the Premier of Western Australia, the Hon Roger Cook, on 22 April 20241 (JTSI Grant).
Managing Director and CEO Andrew Worland said: “We are excited to be pushing ahead with the construction of the new plant at Collie. Establishing a micronising business in Collie has been an important step in our development plans. Critically it will establish the Company as a producer in the graphite industry and build further our technical skills as we progress our Springdale mine to market battery anode material strategy.”
Stage 1 of the JTSI Grant is available to be drawn down progressively over the project construction period as milestones are achieved. The balance of Stage 1 funding is to be met through funding awarded to the Company under the Australian Government Critical Minerals Office grant2, existing cash reserves and additional Company contributions over the construction period, including future R&D rebates.
The balance of the JTSI Grant of $2.5 million will be applied towards expansion of the facility in Stage 2. Ultimately, the Company envisages expanding the Collie Micronising Facility to around 10,000 tpa capacity. It is expected to produce 95% total graphitic content (TGC) and 99% TGC micronised products from graphite concentrates produced at the Company’s 100% owned Springdale Graphite Project, on the south coast of Western Australia, once the mine is in production.
“At those production levels, our Collie facility will be amongst the most significant global producers of micronised graphite outside of China”, Mr. Worland said.
A front-end engineering and design (FEED) study is expected to be completed over the coming months which will confirm the implementation schedule and forecast economics for Stage 1.
The critical path items for the project include local building approvals, construction of new buildings and connection to services, including to the electricity grid, on new development lots adjacent to the Company’s existing facilities in Collie.
Building the project in two stages has been made possible, in part, by the operating experience gained from the Collie Graphite Processing & R&D Facility. Opened in 2022, the exiting facility includes pilot scale micronising and spheroidising equipment and a qualification scale micronising plant.
The facility has been instrumental in optimising equipment selection, vendor assessment, operating conditions and scaling of Stage 1 production capacity to achieve lower unit capital costs than was envisaged in the original 2023 feasibility study.
Figure 1: April 2024 - Inspecting the proposed site for the new commercial micronising plant at Collie, from left, WA Regional Development Minister Don Punch, IG6 Chairman Phil Hearse, Collie-Preston MLA Jodie Hanns and IG6 Managing Director Andrew Worland.
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This article includes content from International Graphite, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.