Canada Growth Fund announces first transaction in critical minerals sector with investment in Quebec-based Nouveau Monde Graphite

MONTREAL, Dec. 17, 2024 /CNW/ - Canada Growth Fund Inc. ("CGF") is pleased to announce that it has entered into a definitive agreement with respect to a ~C$35.6 million private placement with Nouveau Monde Graphite Inc. (TSXV:NOU.VN) (NYSE:NMG) ("NMG"), a Québec-based integrated graphite mining and processing company. With operations in Saint-Michel-des-Saints and Bécancour, NMG is developing an integrated value chain to transform natural graphite into active anode material, a critical component of lithium-ion batteries. NMG's Phase-2 Matawinie Mine and Bécancour Battery Material Plant represent one of the most advanced integrated critical minerals opportunities in Canada and will support North America's efforts to build more resilient supply chains to the benefit of their domestic economies.