Investissement Québec Completes its Investment in Nouveau Monde Graphite as part of US$309.5M Equity Financing Package for its Phase 2 Matawinie Mine

On May 15, 2026, Nouveau Monde Graphite Inc. (“NMG”) announced the completion of a US$309.5 million equity financing package, including a private placement for aggregate gross proceeds of approximately US$213 million to Canada Growth Fund Inc., the Government of Québec, through Investissement Québec, and Eni S.p.A.

As part of the private placement, IQ subscribed for approximately US$61 million in common shares of NMG.

Investissement Québec’s mission is to play an active role in Quebec’s economic development by stimulating business innovation, entrepreneurship, and business acquisitions, as well as growth in investment and exports. Operating in all the province’s administrative regions, Investissement Québec supports the creation and growth of businesses of all sizes with investments and customized financial solutions. 

NMG is an integrated company developing responsible mining and advanced processing operations to supply the global economy with carbon-neutral advanced graphite materials. The Company is developing in Quebec, Canada, a fully integrated ore-to-processed graphite value chain to serve tomorrow’s industries in energy, advanced technology, and manufacturing.

McCarthy Tétrault LLP advised Investissement Québec with a team led by Charles Antoine Soulière and Konstantin A. Sobolevski that included Dominique Amyot-Bilodeau, Amine Kamoun and Annie Poirier-Simard (Business), John W. Boscariol and Christopher Yam (International Trade), and Christian Meighen and Fred Purkey (Tax).