Orion Mine Finance, Investissement Québec and The Pallinghurst Group agreed to acquire assets of Nemaska Lithium Inc. (OTCPK:NMKE.F) for approximately CAD 150 million on August 24, 2020. Under the terms of transaction, consideration is comprised of the assumption of liabilities by New Nemaska Lithium totaling at least CAD 146.5 million and the transfer to Residual Nemaska Lithium of the Corporation’s cash on hand on closing, subject to certain adjustments. Pursuant to the Bid, substantially all of the current employees of the Nemaska Entities will be retained by New Nemaska Lithium in their current roles and responsibilities in all material respects, and all obligations of the Nemaska Entities under the Chinuchi Agreement with the Cree Nation of Nemaska, the Grand Council of the Crees (Eeyou Istchee) and the Cree Nation Government will be assumed by New Nemaska Lithium. New Nemaska Lithium will not be a reporting issuer under applicable Canadian securities laws. The transaction is subject to fulfillment of certain conditions and receipt of appropriate approvals, up to CAD 600 million in New Nemaska Lithium (inclusive of amounts paid to Orion in connection with the Transaction) for the financing of the project, comprised of the mine and the electrochemical plant. obtaining approval under the Competition Act (Canada) and Court approval. 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. As of October 15, 2020, the transaction has obtained an approval and vesting order from the Superior Court of Québec (Commercial Division) issued in connection with the proceedings under the companies’ Creditors Arrangement Act. The Approval and Vesting Order also approved the implementation of a reorganization of the Nemaska Entities. The transaction is expected to close in the fourth quarter of 2020. McCarthy Tétrault LLP acted as legal advisor to Nemaska Lithium; National Bank Financial; Clarksons Platou Securities AS acted as financial advisor and PricewaterhouseCoopers acted as accountant to Nemaska Lithium. Stikeman Elliott LLP acted as legal advisor to PricewaterhouseCoopers in the transaction. Orion Mine Finance, Investissement Québec and The Pallinghurst Group completed the acquisition of assets of Nemaska Lithium Inc. (OTCPK:NMKE.F) on December 1, 2020. Melanie Shishler, Jennifer Grossklaus, Denis Ferland, Gabriel Lavery Lepage, Christopher Anderson, Marc André Gaudreau Duval, Scott Hyman, Daniel Pearlman, Véronique Gaumond-Carignan, Jim Dinning, Olivier Désilets, Nir Servatka, Marie-Claude Bellemare and Sarah Powell of Davies Ward Phillips & Vineberg LLP acted as legal advisor to The Pallinghurst Group.