Further information regarding Nemaska Lithium is available in the SEDAR database (www.sedar.com) and on the Corporation’s website at: www.nemaskalithium.com. You can also refer to the Monitor’s website for more information regarding the CCAA procedures at https://www.pwc.com/ca/en/services/insolvency-assignments/nemaska-lithium-inc.html. All news about NEMASKA LITHIUM INC. 2020: NEMASKA LITHIUM: Investissement Quebec, the Pallinghurst Group and Orion Mine F.. AQ. Immediately prior to the implementation of the CCAA Reorganization, Nemaska Lithium Inc., as a predecessor to the Issuer, had 847,634,338 issued and outstanding Common Shares. Most relevant news about NEMASKA LITHIUM INC: 10/20: NEMASKA LITHIUM: La Cour Supérieure Du Québec Émet Une Premičre Ordonnance.. AQ. Certain important assumptions by the Corporation in making forward-looking statements include, but are not limited to, the achievement of a Court-approved arrangement under the CCAA. It is engaged in exploring and evaluating lithium properties and processing of spodumene into lithium compounds in Quebec, Canada. Apparently , companies can just take the money and get away with it.. what a scam! This company didn’t file for bankruptcy. I sincerely hope this does NOT get approved by the courts. 10/20: NEMASKA LITHIUM: Reverse Vesting Order Issued By Québec Superior Court After Fi.. AQ. If there’s a class action suit, we’re in… this whole thing is appalling!!! While such due diligence work is continuing, the Corporation is confident it will receive qualified bids by the July 10, 2020 deadline. As for the claims process, the Corporation and the Monitor are continuing their review, with the aim of formalizing a plan of arrangement acceptable to its creditors and the Court in a timely manner. There was another mine just 140 kms away that was also a good lithium resource. Bunch of crooks. How is this even legal? Once the qualified bids have been received, Nemaska ​​Lithium, in collaboration with its strategic advisers, will evaluate them to determine which ones qualify for the continuation of the process, with a view to making a recommendation to the Court. 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. This entity, once out of CCAA proceedings, will then amalgamate with an entity controlled by Orion Mine Finance, to form what is referred to as “New Nemaska Lithium.” The sponsors will then invest up to $600 million in the project to push it forward. nmxinvestorsgroup@gmail.com. As a holder of thousands of now-worthless Nemaska shares, I am highly displeased to learn that the decision cuts loose all common shareholders. For more information, visit www.nemaskalithium.com. 2020 : Lithium producer Livent extends Tesla deal, to invest in Nemaska joint ventur.. RE. https://www.bloomberg.com/press-releases/2020-09-03/the-nemaska-shareholders-group-appeals-to-premier-legault, Link to join a share holder lawsuit That’s how analysts are describing NEMASKA Lithium’s Whabouchi Lithium Project worth and estimated C$1.1Billion. Morgan Jones - February 19, 2019. Unfortunately we common shareholders are left with nothing ! Current cash on hand with the public vehicle will remain, subject to certain undisclosed adjustments. Lets see here, total capital raised is approximately Canadian $1 billion. Nemaska ​​Lithium is continuing its restructuring efforts, mainly the Sale or Investor Solicitation Process (the “SISP”) and the claims process, in collaboration with its financial and legal advisers and under the supervision of the CCAA Monitor, PricewaterhouseCoopers. Yes we need to do that. The Corporation intends to operate the Whabouchi mine in Québec, Canada, one of the richest lithium spodumene deposits in the world, both in volume and grade, and the spodumene concentrate to be produced thereat will thereafter be processed at the Shawinigan plant using a unique membrane electrolysis process for which the Corporation holds several patents. All statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to the CCAA proceedings and the Corporation’s activities and its ability to meet its obligations, 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. The Wabouchi mine was 1 km long and a football field wide, was also the best hard rock lithium resource in the world. Nemaska Lithium remains halted as a result of the ongoing bankruptcy proceedings. It says that there was about $550 million in share holder equity. Lithium News; NEMASKA Lithium a Train wreck. After completing a sale or investor solicitation process (SISP) under the Companies’ Creditors Arrangement Act (CCAA), Nemaska Lithium has … Most relevant news about NEMASKA LITHIUM INC. 11/05: Lithium producer Livent in deal to buy Nemaska, extend Tesla contract: RE. Always do additional research and consult a professional before purchasing a security. Nemaska Lithium Inc is a Canada based lithium company. PricewaterhouseCoopers Inc. Court File Number: This is obviously not a high-risk investment, it is some form of pyramid scheme, and because it was done through my RRSP, I can not even claim a capital loss on my taxes!! He would leave the management team and vacate his seat on the board with immediate effect, the … Many have lost their life savings because of him and his minions. The role of the auditors in this whole drama is also questionable. Now they want to take all the assets from the company belonging to the share holders including cash in bank and paying for free. Nemaska’s Phase One Plant which will initially produce 610 tonnes of lithium hydroxide and lithium carbonate annually, is slated for expansion to a full-scale commercial facility. 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. Nemaska Lithium Inc. (NMX.TO) News Headlines Notice: This company has been marked as potentially delisted and may not be actively trading. So from the current state the total cost to get to production is Canadian 690 million. Is Nemaska Lithium Inc. (NMX.TO) a buy right now? total cost for development is 1.4 billion which is now being done by a total cost of only unto Canadian 840 million. If the approval of the Court is obtained, Nemaska Lithium and the Buyers’ Group expect to close the Transaction at the latest on October 15, 2020. 2020: NEMASKA LITHIUM: Completes Share Exchange with Residual Nemaska Lithium: PU. 514-205-5434 So total cost required to develop the asset for production is about Canadian $1.4 billion. sign this petition, where is that piece of garbage guy bourassa he conned everyone stole the money and now is hiding out. There is no assurance that the Corporation will emerge from the CCAA process by completing a project refinancing, and that there will be any residual value for shareholders under the CCAA process. Christian.bourque@pwc.com, Share holders of Nemaska, here are some very valuable links, Letter by a NMX Share holder group Nemaska Lithium is a pure play lithium investment. 10/15 : NEMASKA LITHIUM: is Granted Court Approval of the Sale … Nemaska Lithium ran into financial trouble developing the mine and associated electrochemical plant, facing project cost overruns. Not a recommendation to buy or sell securities. This post fixes some typos in my earlier post. Hopefully the courts don’t approve and the common shareholders get to own equivalent # of new offspring’s shares. The authorized share capital of Nemaska Lithium Inc., as a predecessor to the Issuer, consisted of an unlimited number of common shares (Common Shares). Monitor’s Representative: And to take it away from the share holders without having them at the table, without even attempting an equity raise is just ROBBERY. Over promising and under-delivering has proved costly for long term shareholders as NEMASKA’s share price has tanked 50% this year alone. MONTRÉAL, June 29, 2020 (GLOBE NEWSWIRE) -- Nemaska ​​Lithium Inc. (the “Corporation” or “Nemaska Lithium”) provides an update on its restructuring efforts under the Companies’ Creditors Arrangement Act (the “CCAA”), initiated on December 23, 2019. To date the company has signed a number of financial agreements, including: 1. Get the latest NEMASKA LITHIUM INC (NMX.TO) stock news and headlines to help you in your trading and investing decisions. https://nmx.zone/soyez-representez-be-represented/. Lets see here, total capital raised is approximately Canadian $1 billion. What can we do, that court does NOT get approved it. It should also be noted that the New Nemaska will retain substantially all current employees of the public issuer. Court-Appointed Monitor: Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. Telephone: Not a recommendation to buy or sell. Accordingly, the Corporation sought from the Court an extension of the bid deadline, having determined, in consultation with the Monitor, that it would be in the best interests of its stakeholders to allow a short extension to give all qualified bidders additional time to complete their due diligence reviews. Court and Judicial District: As regards the SISP, the Corporation announces that it has obtained today an order from the Superior Court of Québec (the “Court”) peremptorily extending the date on which the eight qualified bidders currently participating in the SISP must deliver their respective bids from June 30 to July 10, 2020 at 5:00 PM (Montréal time). Welcome to The Deep Dive, where we focus on providing investors of Canadian junior stock markets the knowledge they need to make smart investment decisions. The company, based in Canada. So a total of Canadian 840 million. https://www.youtube.com/watch?v=liThZjFkXv8 The result of this however, is that New Nemaska Lithium will not be a reporting issuer within Canada – meaning current shareholders no longer receive exposure to it. The company announced that it has accepted a sales proposal, with its main assets being purchased by a group that consists of the firms largest secured creditor, Orion Mine Finance, Investissement Québec, and the Pallinghurst Group. 2020: Lithium producer Livent in deal to buy Nemaska, extend Tesla contract: RE. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. (Credit: Nemaska Lithium) Canada’s Nemaska Lithium (TSX: NMX) said on Monday it … Just checked their 2019 3rd quarter accounts submitted by the auditors of Nemaska. 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. As of today, all my stock has gone out of my account. while the secured creditors, and the bigger they are, get to dictate the terms of who gets what – and we common share holders are not even at the table – so that is the first injustice. Join us. 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. 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