In addition, there can be no assurance that the CCAA proceedings will result in the maximization of the return in respect of the Corporation’s assets and those of its subsidiaries. So basically the stock holders got ripped off of about approximately Canadian $600 million. 3. Address: Nemaska’s Phase One Plant which will initially produce 610 tonnes of lithium hydroxide and lithium carbonate annually, is slated for expansion to a full-scale commercial facility. Shoot us an email & let’s chat! OSB File Number: On the operations side of things, the group will acquire the Nemaska entities and assets through what is referred to as a reverse vesting order. Court File Number: Certain important assumptions by the Corporation in making forward-looking statements include, but are not limited to, the achievement of a Court-approved arrangement under the CCAA. 10/16: NEMASKA LITHIUM: Is granted court approval of the sale proposal from orion mine.. AQ. So total cost required to develop the asset for production is about Canadian $1.4 billion. They later found they were Canadian $375 million. Canada has now become the third world where they cheat people. What can we do, that court does NOT get approved it. The consensus among Wall Street research analysts is that investors should "sell" Nemaska Lithium Inc. (NMX.TO) stock. I can not believe that there is no residual value in the common stocks….are they out of their minds! With its products and processes, the Corporation intends to facilitate access to green energy, for the benefit of humanity. Yes we need to do that. You have successfully joined our subscriber list. You can also refer to the Monitor’s website for more information regarding the CCAA procedures at https://www.pwc.com/ca/en/services/insolvency-assignments/nemaska-lithium-inc.html. He would leave the management team and vacate his seat on the board with immediate effect, the … The role of the auditors in this whole drama is also questionable. Nemaska Lithium is a developing chemical company whose activities will be vertically integrated, from spodumene mining to the commercialization of high-purity lithium hydroxide. These estimates and assumptions may prove to be incorrect. Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. As regards the SISP, the Corporation announces that it has obtained today an order from the Superior Court of Québec (the “Court”) peremptorily extending the date on which the eight qualified bidders currently participating in the SISP must deliver their respective bids from June 30 to July 10, 2020 at 5:00 PM (Montréal time). Nemaska Lithium Nemaska Lithium is a developing chemical company whose activities will be vertically integrated, from spodumene mining to the commercialization of high-purity lithium hydroxide. This data is listed online by the Office of the Superintendent for Bankruptcies, Government of Canada regarding the Nemaska Lithium re-organization. There can be no assurance that the Whabouchi mine and/or the electrochemical plant in Shawinigan will be commissioned and will begin production, as future events could differ materially what is currently anticipated by the Corporation. Christian.bourque@pwc.com, Share holders of Nemaska, here are some very valuable links, Letter by a NMX Share holder group Not a recommendation to buy or sell. Nemaska Lithium ran into financial trouble developing the mine and associated electrochemical plant, facing project cost overruns. Bunch of crooks. Signed a US$150 million streaming agreement with Orion Mine Finance. The superior court of Quebec is also a part of this scam. We are the Nemaska Lithium shareholder group on facebook. I lost a lot of money on this Stock. Any idea? A class action law suit should be filed against them to block this transaction from moving forward. So shareholder ripoff is about Canadian 560 million. As of today, all my stock has gone out of my account. Train wreck. https://nmx.zone/soyez-representez-be-represented/. The sponsors, whom are Investissement Québec and The Pallinghurst Group, will each own a 50% stake in a new entity that will be acquiring the entities and assets of Nemaska. If approved by the courts, the transaction is expected to close by October 15, 2020. http://www.pwc.com/ca More information regarding the Corporation’s situation, decisions or actions will continue to be provided on an ongoing basis, as required by applicable law or as may be determined by the Corporation or the Court. Disgraceful to say the least. Contact the parties that have responsibility and jurisdiction to oversee shareholder rights, particularly Rule 61-101 that is meant to protect minority security holder rights. That’s what they are. If the approval of the Court is obtained, Nemaska Lithium and the Buyers’ Group expect to close the Transaction at the latest on October 15, 2020. Nemaska Lithium Sells Assets, Leaves Nothing For Shareholders. There was another mine just 140 kms away that was also a good lithium resource. Nemaska Lithium remains halted as a result of the ongoing bankruptcy proceedings. Nemaska Lithium Inc. (NMX.TO) News Headlines Notice: This company has been marked as potentially delisted and may not be actively trading. With the current deal, with an investment of just Canadian $190 million plus unto Canadian $600 million they can develop the asset for production. 0000455-2020-QC For more information please contact us at info@nemaskalithium.com. Documents filed on SEDAR can also be viewed on Nemaska ​​Lithium’s website. The company supplies lithium hydroxide and lithium carbonate to the lithium battery industry used in electric vehicles, cell phones, tablets, and other consumer products. Nemaska Lithium Inc is a Canada based lithium company. Does that mean our Nemaska Lithium stocks (RRSP) account are worthless ? MONTRÉAL, June 29, 2020 (GLOBE NEWSWIRE) -- Nemaska ​​Lithium Inc. (the “ Corporation ” or “ Nemaska Lithium ”) provides an update on its restructuring efforts under the Companies’ Creditors Arrangement Act (the “ CCAA ”), initiated on December 23, 2019. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada including, but not limited to, the cautionary statements made in the “Risk Factors” section of the Corporation’s Annual Information Form dated September 30, 2019, and the “Risk Exposure and Management” section of the Corporation’s quarterly Management Discussion & Analysis. There are currently 1 sell rating for the stock. Our government must prevent scammers like this. 10/20 : NEMASKA LITHIUM: Reverse Vesting Order Issued By Québec Superior Court … This update comes as the Corporation proceeded, on June 23, 2020, with the SEDAR filing of its interim financial statements and MD&A for the third quarter ended March 31, 2020. Immediately prior to the implementation of the CCAA Reorganization, Nemaska Lithium Inc., as a predecessor to the Issuer, had 847,634,338 issued and outstanding Common Shares. 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