Nemaska Lithium Inc fka NMKEF

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News:Nemaska Lithium Welcomes New Directors

https://ih.advfn.com/p.php?pid=nmona&article=77575427&symbol=TSX:NMX

Nemaska Lithium Inc. (“Nemaska Lithium” or the “Corporation”) (TSX:NMX) (OTCQX:NMKEF) (FRANKFURT:N0T) is pleased to announce that, in connection with the completion of its project financing structure announced on May 30, 2018 and in accordance with terms of investment agreements with Ressources Québec (“RQ”) and SoftBank Group Corp. (“SoftBank”), its Board of Directors welcomes two new directors:
• Patrick Godin, Chief Operating Officer and director of Stornoway Diamond Corporation (“Stornoway”) as RQ representative; and
• Shigeki (Sean) Miwa, General Manager, CEO Project Office, of SoftBank, as representative of that organisation.

RQ Representative

As part of the private placement entered into with RQ, for as long as RQ holds at least 10% of the issued and outstanding common shares of the Corporation, the Corporation undertook to ensure: a) that one nominee for election to the board of directors of the Corporation shall be designated by RQ and to solicit proxies in order that all nominees proposed by management, including the RQ representative, be elected as directors of the Corporation; and b) at any other time when the RQ representative does not serve on the Corporation’s board of directors (for example, because of resignation, dismissal or non-election), to appoint another person designated by RQ as RQ representative on the board of directors.

Mr. Godin joined Stornoway as Chief Operating Officer in May 2010 and was appointed director in October 2011. He has had overall responsibility for the development of the Renard Project up to commercial production and now oversees operations. Prior to joining Stornoway, he was Vice President, Project Development for G Mining Services Inc. and was responsible, in such capacity, for the development of the Essakane Mine in Burkina Faso, as contractor for Iamgold Corp. Prior to that, he was Vice President of Operations for Canadian Royalties, heading the development of its nickel project in Northern Québec. Prior to that, he was President and General Manager of the French subsidiary of Iamgold (originally Cambior Inc.) that was developing the Camp Caïman gold project in French Guiana, after having held positions of increasing management responsibility within Cambior. Mr. Godin holds a bachelor degree in Mining Engineering from Université Laval (Québec) and is a member of the Ordre des Ingénieurs du Québec and of the Collège des administrateurs de sociétés. He is a director of Mason Graphite Inc.

SoftBank Representative

Mr. Miwa holds several positions concurrently within SoftBank, including Representative Director & CEO of SB Energy Corp. (from 2017) and General Manager – CEO Project Office (from 2016), in addition to being a Board Member of the Renewable Energy Institute (from 2014), Representative Director & CEO of Bloom Energy Japan Ltd. (from 2013) and director of Clean Energy Asia LLC (from 2012). Prior to joining SoftBank in 2011, he worked for Mitsui & Co. Ltd. From 1991, mainly in the natural resources and energy sector, and was based in Tokyo, Sydney and Brisbane, Australia. Mr. Miwa graduated from Waseda University in Tokyo with a B.A. in History, received a Master of Financial Management from Macquarie University in Sydney, and completed the General Management Program at Harvard Business School in Boston, USA.

Michel Baril, Chairman of the Board of Nemaska Lithium, commented: “We are very happy to have Patrick and Sean joining us as directors. Patrick’s significant experience as seasoned executive in project development, operations management and also as a director of publicly-held companies will prove a great addition to the Corporation, especially at this juncture of its development. We are equally looking forward to benefitting from Sean’s remarkable and vast experience, on a global basis, in the energy and natural resources sector, which should prove an excellent fit with our organization.”

The Corporation also reports on the following grant of stock options as follows:

• 6M options to 6 independent directors;
• 9,5M options to the CEO and 3 officers; and
• 3,85M options to 9 managers.

All above-listed options were granted under the following terms:

• Each stock option confers the right to its holder to purchase one (1) common share of the Corporation at a price of CAD $1.04, being the higher of:

The closing price of one common share of the Corporation on the TSX as of May 29, May 30 and May 31, 2018; and
CAD $1.00 (being the offering price of the last public offering, as announced on May 22, 2018);
• Each stock option expires as at May 29, 2023;
• Stock options granted to each independent director are vesting immediately; and
• Stock options granted to officers and managers vest in ten (10) equal tranches every three (3) months, starting as of today.