Nemaska Lithium Issues 500,000 Common Shares for the Whabouchi Property
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. WIRE NEWS SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Nemaska Lithium Inc. ("Nemaska" or the "Corporation") (TSX VENTURE:NMX)
(OTCQX:NMKEF) announces that it has issued 500,000 common shares in favour of
the vendor of the Whabouchi property (the "Vendor"), pursuant to the acquisition
agreement dated September 17, 2009, as amended on June 11, 2010 (the
"Agreement"). This issuance represents the last payment in shares to be made
pursuant to the Agreement.
On July 2, 2014, Nemaska announced it had filed a positive Feasibility Study in
connection with the construction of a mine and a concentrator on the Whabouchi
Property and a hydromet plant in Salaberry-de-Valleyfield to produce lithium
hydroxide and lithium carbonate of high purity. Following the filing of the
Feasibility Study, Nemaska had to issue a final block of 500,000 common shares
in favour of the Vendor. The Whabouchi Property is 100% owned by Nemaska and the
Vendor retains a 3% NSR royalty, of which 1/3 may be bought back for an amount
of $1M at any time.
The 500,000 common shares issued in favour of the Vendor are subject to a
restricted period of four months and one day ending on November 16, 2014.
About Nemaska
Nemaska intends to become a lithium hydroxide and lithium carbonate producer
based in Quebec and has filed patent applications for its proprietary methods to
produce these compounds. In tandem, the Corporation is developing one of the
richest spodumene lithium hard rock deposit in the world, both in volume and
grade. Spodumene concentrate produced at Nemaska's Whabouchi mine and from other
global sources will be shipped to the Corporation's lithium compounds processing
plant to be built in Salaberry-de-Valleyfield, Quebec, Canada. This plant will
transform spodumene concentrate into high purity lithium hydroxide and lithium
carbonate mainly for the growing lithium battery market.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
The statements herein that are not historical facts are forward-looking
statements. These statements address future events and conditions and so involve
inherent risks and uncertainties. Actual results could differ from those
currently projected. The Corporation does not assume the obligation to update
any forward-looking statement.
FOR FURTHER INFORMATION PLEASE CONTACT:
Guy Bourassa
President and Chief Executive Officer
418 704-6038
info@nemaskalithium.com
Victor Cantore
Investor Relations
514 831-3809
victor.cantore@nemaskalithium.com
Wanda Cutler
Investor Relations
416 303-6460
wanda.cutler@nemaskalithium.com
www.nemaskalithium.com
