Mason Graphite has announced the sale of its investment in NanoXplore - the Company sold 22,188,333 common shares for a total net consideration of CAD$28.2 million (around USD$21.5 million). These common shares, representing 18.3% of NanoXplore, were acquired through various private placements by NanoXplore at a total cost of $4.5 million. After this sale, Mason Graphite no longer holds any common shares of NanoXplore.
The shares were sold to a group of buyers that included Martinrea International, Caisse de dépôt et placement du Québec, and Investissement Quebec. As of today, Martinrea holds 30,199,800 shares of NanoXplore which represents approximately 25% of the total outstanding shares of the Corporation.
Benoît Gascon, President and CEO of Mason Graphite, commented: "Mason Graphite is proud to have contributed to the success of NanoXplore since the very beginning of the company in 2014 and this strategic relationship will endure. We look forward to supplying NanoXplore with our graphite from Lac Guéret. In addition, the high caliber and strategic nature of the entities acquiring this block of shares, allowing the future development of NanoXplore, must be highlighted."
Soroush Nazarpour, CEO of NanoXplore, commented on the change in the Corporation’s ownership: “We are excited to welcome Investissement Quebec (investment arm of the Quebec government) and Caisse de dépôt et placement du Québec as new shareholders of the company. We are also thrilled that Martinrea has decided to further increase its shareholder position. We continue to strategically develop graphene-related solutions that will drastically separate Martinrea from the rest of the competition within the automotive space. We would like to thank Mason Graphite for all their support over the last few years and we will continue with our relationship as NanoXplore expands its graphene production capabilities. Mason Graphite’s decision was a necessary step to further progress the development of its mining project and we wish Mason’s management team future success”.