NMG issues 131,659 shares to pay convertible note interest

Nouveau Monde Graphite Inc. (NYSE: NMG) will issue 131,659 common shares valued at $321,248 to settle accrued interest payments to Investissement Québec for the fourth quarter of 2025, according to a company statement.

The shares, priced at $2.44 each, will pay interest owed under an unsecured convertible note connected to a private placement announced in November 2022. The note was amended and restated on October 27, 2025.

The transaction requires approval from the Toronto Stock Exchange and New York Stock Exchange. Once issued, the shares will be subject to a four-month and one-day hold period.

Investissement Québec holds more than 10% of NMG's securities, making this a related party transaction under Canadian securities regulations. The company's board determined the transaction qualifies for exemptions from formal valuation and minority shareholder approval requirements, as the fair market value does not exceed 25% of NMG's market capitalization.

Share certificates will be delivered to Investissement Québec at the maturity, conversion or redemption of the convertible note. The interest payment covers amounts due on December 31, 2025.

NMG develops graphite mining and processing operations in Quebec, Canada, targeting advanced materials for energy, defense, technology and manufacturing industries.

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