Nouveau Monde Graphite Inc. (TSXV:NOU) entered into an asset purchase agreement to acquire Lac Guéret graphite from Mason Resources Inc. (TSXV:LLG) for CAD 23.6 million on January 21, 2024. The consideration for the acquisition of the Lac Guéret Property is payable in 6,208,210 Nouveau Monde Graphite shares. subsequent payment of CAD 5 million will be made to Mason at the start of commercial production of the contemplated Uatnan Mining Project.

3,104,105 of the common shares of Nouveau Monde Graphite to be issued in connection with the transaction will be subject to a lock-up for a period of 12 months and the remaining 3,104,105 common shares of Nouveau Monde Graphite will be subject to a lock-up of 18 months. Closing of the transaction is expected to occur on or before January 31, 2024, and is subject to certain standard conditions, including the receipt of the final approval from the TSX Venture Exchange.