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Investissement Québec, The Pallinghurst Group and Orion Mine Finance Complete Acquisition of Nemaska Lithium

Montréal, Québec, Dec. 01, 2020 (GLOBE NEWSWIRE) — Nemaska ​​Lithium Inc. (“Nemaska Lithium” or the “Corporation”) announces that the Corporation completed today its previously announced sale (the “Transaction”) to a group made up of Investissement Québec (“IQ”), and The Pallinghurst Group, acting through an entity named Quebec Lithium Partners (“Pallinghurst” and, together with IQ, the “Purchasers”), together with Orion Mine Finance (“Orion”), structured as a credit bid. Details of the Transaction were previously provided in press releases issued on August 24, 2020, and October 15, 2020.

Pursuant to the Transaction, the Purchasers acquired, on a 50-50 basis, all of the issued and outstanding shares of an entity resulting from the amalgamation of the Corporation, its subsidiaries and entities controlled by Orion, to form a new resulting entity that will operate the business of the Corporation (“New Nemaska Lithium”). As a successor to the Corporation, New Nemaska Lithium has applied to the Canadian securities regulatory authorities to cease to be a reporting issuer under applicable Canadian securities laws.

The Purchasers believe that the closing of the Transaction will enable the business of New Nemaska Lithium to progress forward with strong financial and operational backing, all while preserving present and future employment and economic opportunities to the benefit of the local community, including the Cree Nation.

About the Purchasers

IQ’s mission is to participate actively in Québec’s economic development by stimulating business innovation, entrepreneurship and the growth of exports and investment in every region of Québec. IQ provides enterprises and entrepreneurs with support services, including technology-based measures, as well as adapted financial solutions and investments. More information about IQ is available at

Pallinghurst is a leading private investor in the global natural resources sector. Pallinghurst’s firm focus is on investing in the entire value-chain of sustainably sourced battery and fuel-cell materials. It is a partnership that prides itself on being an active investor, always participating in the management and development of the companies and assets it invests in. Pallinghurst is headquartered in London and has deployed in excess of US$2 billion of equity for projects around the world. Since its formation, Pallinghurst has responsibly developed, built and operated major resource projects in North America, Europe, Africa and Australia. In addition to lithium, currently, it has investments in platinum, graphite and manganese companies. More information about Pallinghurst is available at