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08 05 2018 01

Nemaska Lithium Inc. and Northvolt AB announced the signature of an agreement in principle providing for the supply by the Corporation to Northvolt of battery grade lithium hydroxide.

Under this agreement in principle, Nemaska Lithium agreed to supply, through its wholly-owned subsidiary Nemaska Lithium Shawinigan Transformation Inc., and Northvolt agreed to purchase, on a take-or-pay basis, up to 5,000 but not less than 3,500 metric tonnes per year of lithium hydroxide produced at the Corporation’s commercial plant in Shawinigan, for a 5-year supply period commencing upon the start of commercial production at both the Shawinigan Plant and Northvolt’s projected Skellefteå factory in Sweden (the “N Factory”).

In connection with this supply of lithium hydroxide, Northvolt has agreed to deliver to the Corporation a €10 million ($12 million) promissory note which, at the Corporation’s option, can be converted into voting shares of Northvolt in connection with the N Factory funding, or redeemed at cost plus an agreed-upon interest rate.

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