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Update on Nemaska Lithium’s Restructuring Efforts Under the CCAA

by ahnationtalk on April 1, 202050 Views

• Postponement of the Claims Bar Date to April 17, 2020

• Sale or Investor Solicitation Process continues as planned

• Court case with holders of the Senior Secured Bonds completely settled

MONTREAL, April 01, 2020 — Nemaska Lithium Inc. (“Nemaska Lithium” or the “Corporation”) provides today an update on its restructuring efforts under the Companies’ Creditors Arrangement Act (the “CCAA”) initiated on December 23, 2019, under the supervision of the Superior Court of Québec (the “Court”) and PricewaterhouseCoopers Inc., as monitor of the business and financial affairs of the Corporation (the “Monitor”).

Postponement of the Claims Bar Date

The Corporation yesterday obtained an order from the Court that postpones the deadline for filing proofs of claims, known as the Claims Bar Date, to April 17, 2020. Accordingly, persons having claims against the Corporation, its subsidiaries, and their directors and officers must file their proofs of claim at the latest on April 17, 2020, failing which these persons will be barred from asserting their claims.

The claims procedure was initiated on January 29, 2020, in order to proceed as soon as possible with the review and determination of the number and quantum of claims against the Corporation and its subsidiaries, as well as their directors and officers. For further information regarding the claims procedure, please consult the Monitor’s website:

Continuation of the Sale or Investor Solicitation Process as Planned

The financial advisors responsible for conducting the Sale or Investor Solicitation Process (“SISP”) are continuing their work as planned. The next milestone under the SISP is the submission of non-binding letters of intent at the latest on April 17, 2020. Potential interested parties wishing to obtain more information on the SISP may consult the Monitor’s website:

Court Case with Holders of the Senior Secured Bonds Completely Settled

The settlement of the court case with holders of the Senior Secured Bonds, announced on January 29, 2020, and approved by these holders and the Court, respectively, on February 12 and February 13, was implemented on March 13, 2020.

About Nemaska Lithium

Nemaska Lithium Inc. is a developing chemical company whose activities will be vertically integrated, from spodumene mining to the commercialization of high-purity lithium hydroxide. These lithium salts are mainly destined for the fast-growing lithium-ion battery market, which is driven by the increasing demand for electric vehicles and energy storage worldwide. With its products and processes, the Corporation intends to facilitate access to green energy, for the benefit of humanity.

The Corporation intends to operate the Whabouchi mine in Québec, Canada, one of the richest lithium spodumene deposits in the world, both in volume and grade, and the spodumene concentrate to be produced thereat will thereafter be processed at the Shawinigan plant using a unique membrane electrolysis process for which the Corporation holds several patents.

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. For more information, visit You can also refer to the Monitor’s website for more information on the CCAA procedures at

Gabrielle Tellier
Media Relations
514 348-0466


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