Nouveau Monde Graphite (NYSE: NMG) lands US$335M debt and locks in major graphite offtakes
Rhea-AI Filing Summary
Nouveau Monde Graphite is advancing its Phase-2 growth plan around the Matawinie graphite mine and Bécancour battery material plants. The company secured a fully committed senior project debt commitment letter for US$335 million from Export Development Canada and the Canada Infrastructure Bank to fund construction, development and commissioning of the Matawinie Mine, subject to definitive documentation and customary conditions. An updated binding long-form term sheet with the Government of Canada commits to purchase 30,000 tpa of flake graphite concentrate over seven years on a take-or-pay basis, with upside-sharing on resale, complementing existing offtakes with Panasonic Energy and Traxys that together cover more than 70% of planned Phase-2 production. NMG filed its 2025 financial reports, reported year-end cash of about CA$74 million, highlighted major construction contracts covering over 50% of Matawinie CAPEX, and outlined a two-stage Bécancour strategy using a 143,000-m² brownfield site to lower initial infrastructure costs. The company emphasized ESG performance, including carbon-neutral status with 2025 emissions of 744 tonnes CO2e offset by carbon credits and a total recordable injury frequency rate of 3.92, as it moves toward final investment decisions for both Matawinie and the first-stage Bécancour plant.
Positive
- US$335 million senior project debt commitment from Export Development Canada and the Canada Infrastructure Bank provides the majority of Matawinie’s capital structure on long-tenor, flexible terms.
- Long-term offtakes cover over 70% of future production, including a binding term sheet for 30,000 tpa with the Government of Canada plus agreements with Panasonic Energy and Traxys, enhancing revenue visibility and lender confidence.
- Project execution is substantially advanced and de-risked with detailed engineering, key permits, major contracts awarded for over 50% of CAPEX, and recognition of Matawinie as a project of national interest.
- Strong ESG profile and carbon-neutral status, including 2025 emissions of 744 tonnes CO2e fully offset by certified credits and a total recordable injury frequency rate of 3.92, supports positioning as a responsible critical-minerals supplier.
Negative
- None.
Insights
Debt commitment and long-term offtakes materially de-risk NMG’s Phase-2 build-out while key conditions and equity funding remain outstanding.
Nouveau Monde Graphite has secured a fully committed senior project debt commitment letter for US$335 million from EDC and the Canada Infrastructure Bank. This package is designed to fund construction, development, commissioning and pre-completion working capital for the Phase-2 Matawinie Mine, with a cost overrun facility providing additional protection against budget slippage.
On the revenue side, a binding long-form term sheet with the Government of Canada covers 30,000 tpa of flake graphite concentrate on a seven-year, take-or-pay basis, while offtakes with Panasonic Energy and Traxys mean more than 70% of planned Phase-2 production is contracted. These agreements support project bankability and align with lender requirements.
The commitment letter and term sheet are still subject to definitive documentation, due diligence, governmental approvals, appropriations and positive final investment decisions for both Matawinie and the first-stage Bécancour plant. NMG is pursuing strategic equity investors to complete the capital structure, ending 2025 with around CA$74 million in cash. Future filings around FIDs and equity funding will clarify execution timing and remaining risk.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2026
Commission File Number: 001-40416
Nouveau Monde
Graphite Inc.
(Translation of registrant’s name into English)
481 rue Brassard
Saint-Michel-des-Saints, Quebec
Canada J0K 3B0
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ¨ Form 40-F x
DOCUMENTS TO BE FILED AS PART OF THIS FORM 6-K
| 99.1 | Press Release dated March 17, 2026 |
| 99.2 | Press Release dated March 26, 2026 |
| 99.3 | Press Release dated March 26, 2026 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, there unto duly authorized.
| Nouveau Monde Graphite Inc. | |
| (Registrant) | |
| Date: March 26, 2026 | /s/ Josée Gagnon |
| Josée Gagnon | |
| Vice President, Legal Affairs & Corporate Secretary |
Exhibit 99.1
PRESS RELEASE
For immediate release
NMG Secures Senior Project Debt for Phase-2 Matawinie Mine
| + | Fully committed senior project debt commitment letter of US$335 million secured with EDC and CIB | |
| + | Long-tenor, flexible project-finance structure with competitive rates and repayment terms, underpinned by ESG credentials in line with international standards | |
| + | Clear path to FID with debt commitment representing the first step in financing schedule | |
| + | Long-term offtake arrangements underpin project bankability and revenue visibility, with 75% of the Phase-2 Matawinie Mine future production earmarked for the Government of Canada, Panasonic Energy and Traxys | |
| + | Shovel-ready mine project substantially de-risked with detailed engineering (~80%), site preparatory work, key permits, and instrumental agreements with First Nation and local community | |
| + | NMG's Phase-2 Matawinie Mine referred to the Major Projects Office as a project of national interest to bolster economic growth, accelerate the development of an integrated value chain in Canada, and support G7 countries and allies in sourcing critical minerals |
MONTRÉAL, CANADA, March 17, 2026 – Nouveau Monde Graphite Inc. (“NMG” or the “Company”) (NYSE: NMG, TSX: NOU) has executed a commitment letter in respect of senior secured project debt to support the construction, development and commissioning of the Phase-2 Matawinie Mine, a major project of national interest as identified by the Government of Canada. Leading Canadian public finance institutions, Export Development Canada (“EDC”) and the Canada Infrastructure Bank (“CIB”), have committed to providing facilities totaling US$335 million (the “Facilities”) toward the establishment of what is projected to be the largest graphite mine of the G7 to serve tomorrow’s industries in energy, advanced technology, and manufacturing.
Eric Desaulniers, Founder, President, and CEO of NMG, stated: “A defining milestone for the Matawinie Mine, this commitment from EDC and CIB reflects the depth of Canadian public-finance expertise behind large, strategic infrastructure and critical minerals developments — and it validates the bankability of our project. With detailed engineering well advanced, preparatory work executed, key permits secured, and agreements in place with the Atikamekw First Nation of Manawan and local community, Matawinie is shovel-ready and substantially de-risked. Backed by long-term offtake arrangements and a disciplined financing structure, we are advancing with confidence toward final investment decision (“FID”) and construction.”
The Honorable Dominic LeBlanc, President of the King’s Privy Council for Canada, Minister of Internal Trade, and Minister responsible for Canada-U.S. Trade, Intergovernmental Affairs and One Canadian Economy, declared: “Nouveau Monde Graphite’s project is essential to accelerating the development of an integrated critical minerals value chain in Canada. By securing this long-term financing for Phase 2 of the Matawinie Mine, Nouveau Monde Graphite is helping strengthen a supply chain that is vital to our economic security, while supporting Canada and other G7 countries in sourcing critical minerals in a reliable and responsible way. With projects like this one, we are building a stronger and more prosperous Canada — creating good jobs, advancing the energy transition and unlocking Canada’s full economic potential.”
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The Honorable Tim Hodgson, Minister of Energy and Natural Resources, said: “Graphite underpins battery supply chains, advanced manufacturing, and the technologies that shape the modern economy. We are the only G7 nation currently producing it, and by bringing the Matawinie Mine online, we can create new jobs and strengthen Canada’s role as a reliable supplier to our allies. The Government of Canada is helping move this project toward final investment decision and construction – just like we promised when we referred the project to the Major Projects Office. This is what execution looks like.”
The Honorable Joël Lightbound, Minister of Government Transformation, Public Works and Procurement and Quebec Lieutenant, stated: “Québec has everything it needs to be a leading player in the global battery supply chain: world-class resources, recognized industrial expertise, and regions ready to seize growth opportunities. By supporting projects like this one, our government is strengthening Canada’s position in the critical minerals sector, creating quality jobs for our workers, and ensuring that our industries have a reliable supply to build the economy of tomorrow.”
The Honorable Maninder Sidhu, Minister of International Trade, declared: “Canada’s critical minerals sector is key to building resilient supply chains and supporting the global transition to a low-carbon economy. By supporting projects like Nouveau Monde Graphite’s Matawinie Mine, which is set to become the largest graphite mine in the G7, we are strengthening Canada’s role as a reliable and stable partner in global critical mineral supply chains. This project will help grow Canadian exports, reinforce secure supply chains with our allies, and further position Canada as a global leader in responsibly produced critical minerals.”
The Honorable Gregor Robertson, the Minister of Housing, Infrastructure and Communities, and Minister responsible for Pacific Economic Development Canada said: “Projects like this are key to building the infrastructure and supply chains Canada needs for the future. The Matawinie Mine will strengthen our critical minerals value chain, create good jobs, and support sustainable economic growth while helping Canada and its allies secure the materials needed for clean energy and advanced manufacturing. Through this agreement in principle, we are helping move this important project forward and ensuring Canada remains a reliable partner in the global transition to a low-carbon economy.”
Claude Guay, Parliamentary Secretary to the Minister of Energy and Natural Resources, stated: “Québec offers the resource base, industrial capability, and project expertise needed to anchor globally competitive mining and critical minerals development. Today's announcement reflects the kind of strategic action our government is taking to create jobs and strengthen our economy and sovereignty, thanks to Quebec’s role in critical supply chains.”
Alison Nankivell, President and CEO, of EDC, added: “EDC is pleased to lead this financing round in support of the Nouveau Monde Graphite project, reflecting our commitment to building a strong, end-to-end critical minerals ecosystem in Canada. Projects like the Matawinie Mine play a strategic role, by strengthening domestic supply chains, creating high-quality jobs, and positioning Canada as a trusted global supplier of critical minerals. This is a great example of how EDC is deploying strategic risk capital to support nation-building projects that strengthen Canada’s economic resilience and advance the Government of Canada’s vision for a secure, sustainable, and globally competitive critical minerals sector.”
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Ehren Cory, CEO of CIB, shared: “The CIB’s commitment of a debt facility to Nouveau Monde Graphite will advance the next phase of the Matawinie Mine toward final investment decision and construction. The CIB works to bridge financing gaps and accelerate timelines in large-scale critical minerals projects which are essential to Canada’s economic competitiveness.”
Key Financing Highlights
The Facilities account for a majority of the project’s capital structure and offer competitive terms supportive of long-term project economics. Facilities will be available upon completion of the definitive documentation, final legal, insurance and regulatory due diligence, and satisfaction of customary conditions precedents (collectively the “Conditions Precedents”). Société Générale is acting as debt advisor for this transaction.
| » | Total senior project-level debt facilities of US$335 million, including: |
| - | US$290 million senior secured term loan facility |
| - | US$45 million senior secured cost overrun debt facility |
| » | Competitive interest rate and repayment structure to support commercial launch |
| » | First-ranking security over the Matawinie Mine project and all material assets |
| » | Aligned with international best practices for environmental, social and governance standards, including Equator Principles and IFC Performance Standards |
The Facilities will be used to fund eligible project construction costs, working capital requirements prior to completion, and transaction costs associated with the financing. The cost overrun facility provides additional protection against construction cost overruns, subject to defined conditions.
The Phase-2 Matawinie Mine is supported by a portfolio of long-term offtake agreements, including agreements with the Government of Canada, Panasonic Energy Co., Ltd., a wholly owned subsidiary of Panasonic Holdings Corporation (TYO: 6752), and Traxys North America LLC, providing strong revenue visibility and underpinning the project financing structure.
Independent engineering, environmental and social, market, and other specialized advisors have been appointed to support the financing and oversee construction and ramp-up in accordance with the agreed development plan.
Path to FID
Following completion of Conditions Precedents, the Company expects to proceed to financial close and begin drawdowns under the term loan facility in accordance with the project schedule. Construction preparation, engineering, and procurement are advancing in parallel, with project execution aligned to the approved development plan. Major contracts awarded over the past few months, with provisions for full execution upon the Company having reached a positive FID, represent over 50% of the project’s CAPEX and are within estimates of NMG’s updated feasibility study for the Phase-2 Matawinie Mine in accordance with National Instrument 43-101.
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Aerial view of the Phase-2 Matawinie Mine site as of March 2026 with key preparatory works completed in view of the launch of construction.
The execution of the commitment letter represents a major milestone in the advancement of NMG’s fully integrated, responsible graphite value chain in Québec, Canada, and supports the development of a cornerstone asset for Western supply chains. The participation of EDC and the CIB reflects strong institutional confidence in the project’s fundamentals, its strategic importance to Canada’s critical minerals ecosystem, and NMG’s execution capabilities.
NMG is actively progressing its negotiations with targeted strategic investors for the equity component of the project financing with a view to completing the financing structure in a timely manner.
About Nouveau Monde Graphite
Nouveau Monde Graphite is an integrated company developing responsible mining and advanced processing operations to supply the global economy with carbon-neutral advanced graphite materials. The Company is developing in Québec, Canada, a fully integrated ore-to-processed-graphite value chain to serve tomorrow’s industries in energy, advanced technology, and manufacturing. With recognized ESG standards and structuring partnerships with major customers, NMG is set to become a strategic supplier of advanced materials to leading specialized manufacturers while promoting sustainability, innovation, and supply chain traceability. www.NMG.com
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Contact MEDIA |
INVESTORS | |
Julie Paquet VP Communications & ESG Strategy +1-450-757-8905 #140 jpaquet@nmg.com |
Marc Jasmin Director, Investor Relations +1-450-757-8905 #993 |
Subscribe to our news feed: https://bit.ly/3UDrY3X
Cautionary Note Regarding Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation (collectively, “forward-looking statements”), including, but not limited to, statements relating to future events or future financial or operating performance of the Company and reflect management’s expectations and assumptions regarding the Company’s growth, results, performance and business prospects and opportunities. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to it. These forward-looking statements include, but are not limited to, the Facilities, the Company’s ability to successfully execute definitive agreements in respect of the Facilities, on the terms and conditions described herein and/or set forth in the commitment letter or at all, completion of due diligence by EDC and FID, the satisfaction of customary closing conditions, the expected use of proceeds, the Company’s ability to secure a positive FID for the Phase-2 Matawinie, the Company’s ability to negotiate and complete strategic equity investments and the terms and conditions thereof, the completion of the Phase-2 Matawinie Mine, the ability to execute the construction and the commissioning as planned and in accordance with the execution plan and strategy, the ability of all contractors and suppliers of the Company to deliver in accordance with their commitment, the expected results and anticipated benefits for the communities involved, including the Atikamekw First Nation of Manawan and the local community of Saint-Michel-des-Saints, and the expected results of the initiatives described in this press release, and those statements which are discussed under the “About Nouveau Monde Graphite” paragraph and elsewhere in the press release which essentially describe the Company’s outlook and objectives.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions are not guarantees of future performance and may prove to be incorrect. Moreover, these forward-looking statements are based upon various underlying factors and assumptions, including the ability of the Company to enter into definitive agreements with respect to the Facilities, the results of the due diligence of EDC and CIB, the ability of the Company to be able to satisfy all conditions to closing in respect of the Facilities, the ability of the Company to negotiate and complete strategic equity investments, the business relationship between the Company and its stakeholders, the ability to obtain sufficient financing for the development of the Matawinie Mine and the Bécancour Battery Material Plant and the Company’s ability to satisfy the due diligence processes of the stakeholders, and are not guarantees of future performance.
Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, availability of financing or financing on favorable terms for the Company, delays in finalizing the definitive agreements, delays in reaching FID, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG’s Annual Information Form dated March 31, 2025, including in the section thereof captioned “Risk Factors”, which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Further information regarding the Company is available in the SEDAR+ database (www.sedarplus.ca), and for United States readers on EDGAR (www.sec.gov), and on the Company’s website at: www.NMG.com.
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Exhibit 99.2
PRESS RELEASE
For immediate release
NMG and Government of Canada Execute Updated Binding Offtake and Marketing Framework for Matawinie Graphite
| + | Updated binding long-form term sheet with the Government of Canada setting out principal commercial terms for the supply, storage, and resale of graphite concentrate from NMG’s Phase-2 Matawinie Mine. |
| + | Framework covers 30,000 tpa purchase commitment over a seven-year term, subject to customary conditions precedent including governmental appropriations and NMG’s positive FID. |
| + | Pricing based on a North American fixed price with an annual inflation adjustment. |
| + | Marketing structure allows NMG to resell Canada’s committed volumes, with an upside-sharing mechanism on proceeds above the fixed price, and the ability for Canada to store product. |
| + | NMG’s Phase-2 Matawinie Mine actively progressing toward FID on the back of a fully committed senior secured project debt commitment of US$335 million with EDC and CIB, and advanced negotiations with strategic investors. |
MONTRÉAL, CANADA, March 26, 2026 – Nouveau Monde Graphite Inc. (“NMG” or the “Company”) (NYSE: NMG, TSX: NOU) has executed an updated binding long-form term sheet with the Government of Canada, represented by Public Services and Procurement Canada (“PSPC”), setting out the principal commercial terms for the supply, storage and resale of graphite concentrate from the Company’s Phase-2 Matawinie Mine in Québec, Canada.
Eric Desaulniers, Founder, President, and CEO of NMG, stated: “This updated framework with the Government of Canada is another key step in reinforcing the bankability of our Phase-2 Matawinie Mine and our positioning among the G7 and allied countries as a local, dependable, and responsible graphite source. The contemplated supply, storage and marketing structure is designed to support Canada’s strategic ambitions while preserving commercial agility for NMG as we advance toward definitive agreements and a final investment decision (“FID”).”
The updated binding long-form term sheet advances work toward definitive transaction agreements, with Canada committing to purchase 30,000 tonnes per annum (“tpa”) of flake graphite concentrate from the Matawinie Mine on a take-or-pay basis over a seven-year term. Pricing for the committed volumes is based on the North American fixed price set out in the parties’ October 31, 2025 term sheet, subject to an annual inflation adjustment aligned with the Industrial Product Price Index. The marketing framework allows NMG to resell Canada’s committed volumes – a basket of products ranging from fine to large and jumbo flakes at a minimum 94% Cg purity level – with a 50-50 upside-sharing mechanism where resale proceeds exceed the fixed price.
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The binding long-form term sheet is subject to satisfaction of customary conditions precedent, including the completion of governmental approvals and appropriations processes, and a positive FID on NMG’s Matawinie Mine.
This binding commercial term sheet complements NMG’s offtake agreements with Panasonic Energy Co., Ltd., a wholly owned subsidiary of Panasonic Holdings Corporation (TYO: 6752), and Traxys North America LLC, which collectively account for more than 70% of the Phase-2 Matawinie Mine future graphite concentrate production. Attesting to the project’s bankability, these agreements are aligned with senior lenders and strategic investors’ requirements in view of the project financing.
NMG’s Phase-2 Matawinie Mine project financing is advancing with a fully committed senior secured project debt commitment letter of US$335 million from Export Development Canada (“EDC”) and the Canada Infrastructure Bank (“CIB”), providing a long-tenor, flexible project-finance structure with competitive rates and repayment terms. The debt commitment represents a first step in NMG’s financing schedule and supports a clear path to FID, underpinned by long-term offtake arrangements that enhance bankability and revenue visibility, and by a shovel-ready project substantially de-risked through detailed engineering, site preparatory work, key permits, and instrumental agreements with the Atikamekw First Nation and the local community.
About Nouveau Monde Graphite
Nouveau Monde Graphite is an integrated company developing responsible mining and advanced processing operations to supply the global economy with carbon-neutral advanced graphite materials. The Company is developing in Québec, Canada, a fully integrated ore-to-processed-graphite value chain to serve tomorrow’s industries in energy, advanced technology, and manufacturing. With recognized ESG standards and structuring partnerships with major customers, NMG is set to become a strategic supplier of advanced materials to leading specialized manufacturers while promoting sustainability, innovation, and supply chain traceability. www.NMG.com
Contact MEDIA |
INVESTORS |
Julie Paquet VP Communications & ESG Strategy +1-450-757-8905 #140 jpaquet@nmg.com |
Marc Jasmin Director, Investor Relations +1-450-757-8905 #993 mjasmin@nmg.com |
Subscribe to our news feed: https://bit.ly/3UDrY3X
2
Cautionary Note Regarding Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation (collectively, “forward-looking statements”), including, but not limited to, statements relating to future events or future financial or operating performance of the Company and reflect management’s expectations and assumptions regarding the Company’s growth, results, performance and business prospects and opportunities. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to it. These forward-looking statements include, but are not limited to, the Credit Facilities, the intended development of the Matawinie Mine and the intended development of the First-Stage Bécancour Battery Material Plant, the Company’s ability to successfully execute definitive agreements in respect of the Credit Facilities, on the terms and conditions described therein and/or as set forth in the Commitment Letter or at all, completion of due diligence by EDC and CIB, the satisfaction of conditions precedent and customary closing conditions, the expected use of proceeds, the Company’s ability to secure a positive FID for the Phase-2 Matawinie, the Company’s ability to negotiate and complete strategic offtakes and equity investments and the terms and conditions thereof, the completion of the Phase-2 Matawinie Mine, the ability to execute the construction and the commissioning as planned and in accordance with the execution plan and strategy for the Matawinie Mine and the First-Stage Bécancour Battery Material Plant, the results of the 2025 Matawinie Mine Feasibility Study, the ability of all contractors and suppliers of the Company to deliver in accordance with their commitment, the expected results and anticipated benefits for the communities involved, including the Atikamekw First Nation of Manawan and the local community of Saint-Michel-des-Saints, the impact of the market perspective for the Company, and the expected results of the initiatives described in this press release, and those statements which are discussed under the “About Nouveau Monde Graphite” paragraph and elsewhere in the press release which essentially describe the Company’s outlook and objectives.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions are not guarantees of future performance and may prove to be incorrect. Moreover, these forward-looking statements are based upon various underlying factors and assumptions, including the ability of the Company to enter into definitive agreements with respect to the Credit Facilities, the results of the due diligence of EDC and CIB, the ability of the Company to be able to satisfy all conditions precedent and conditions to closing in respect of the Credit Facilities, the ability of the Company to negotiate and complete strategic offtakes and equity investments, the business relationship between the Company and its stakeholders, the ability to obtain sufficient financing for the development of the Matawinie Mine and the Bécancour Battery Material Plant and the First-Stage Bécancour Battery Material Plant, and the Company’s ability to satisfy the various due diligence processes, and are not guarantees of future performance.
Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, availability of financing or financing on favorable terms for the Company, delays in finalizing the definitive agreements, delays in reaching FID, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG’s Annual Information Form dated March 25, 2026, including in the section thereof captioned “Risk Factors”, which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Further information regarding the Company is available in the SEDAR+ database (www.sedarplus.ca), and for United States readers on EDGAR (www.sec.gov), and on the Company’s website at: www.NMG.com.
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Exhibit 99.3
PRESS RELEASE
For immediate release
NMG Files 2025 Financial Reports and Advances Phase-2 Matawinie Mine Toward Construction
| + | Phase 2 Matawinie Mine advancement toward FID on the basis of the 2025 Matawinie Mine Feasibility Study, commercial agreements, as well as lenders and investors respective processes, with an H1-2026 target date. |
| + | Fully committed senior secured project debt commitment letter of US$335 million with EDC and CIB, a long tenor, flexible project finance structure with competitive rates and repayment terms, underpinned by ESG credentials in line with international standards. |
| + | Demonstrated commercial foundation for NMG’s Phase 2 highlighted by sales and marketing agreements with Panasonic Energy, Traxys and the Government of Canada, securing diversified demand for active anode material and graphite concentrate. |
| + | Construction readiness at the Phase 2 Matawinie Mine, including completion of preparatory works, execution planning, significant advancement of detailed engineering, and award of key contracts covering more than 50% of projected CAPEX, within financial estimates. |
| + | Referral of the Matawinie Mine by the Government of Canada to the Major Projects Office, affirming NMG’s strategic role in critical minerals development and North American supply chain sovereignty. |
| + | Acquisition of a brownfield site in Bécancour enabling accelerated construction and commissioning of the First- Stage Bécancour Battery Material Plant to deliver on Panasonic Energy’s active anode material offtake. |
| + | Completion of a US$20-million public equity offering to fund long lead items, detailed engineering, and corporate expenses ahead of FID. |
| + | Continued ESG leadership and operational discipline, with no major environmental incidents, a year end TRIFR of 3.92 at Company facilities and 0 at worksites, and maintenance of a carbon neutral balance through reduction initiatives and verified offsets. |
| + | R&D collaborations with leading Canadian researchers to develop multifunctional graphite–polymer composites and next-generation battery materials, supporting a diversified marketing strategy. |
| + | Favorable position to benefit from structural critical minerals tailwinds, as governments in the Western World intensify policy actions to secure domestic and allied supply chains for graphite and battery materials. |
| + | Period-end cash position of approximately CA$74 million. |
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MONTRÉAL, CANADA, March 26, 2026 – Nouveau Monde Graphite Inc. (“NMG” or the “Company”) (NYSE: NMG, TSX: NOU) filed its financial reports for the 2025 period, a year marked by material progress toward the development and financing of the Company’s Phase-2 operations, alongside continued ESG leadership and disciplined capital deployment. With the recent US$335-million commitment package from lenders toward financing of the Matawinie Mine, the Company is well positioned and focused on completing the remaining steps to reach a final investment decision (“FID”), advancing a sequenced FID for the First-Stage Bécancour Battery Material Plant, and preparing for construction and commercial execution.
Eric Desaulniers, Founder, President, and CEO of NMG, stated: “2025 was a year of discipline and determination. In a global environment shaped by economic recalibration, evolving trade policies, and intensified competition for critical minerals, our focus remained constant – advance with rigor, strengthen our foundations, and prepare for execution at scale. Team Nouveau Monde delivered tangible progress across all pillars of our development roadmap; we are reducing execution risk for our fully integrated graphite platform, from mine to advanced materials, that aligns with the strategic priorities of Western economies and supports decades of responsible production. 2026 promises exciting milestones in converting our assets and plans into future commercial success.”
NMG’s 2025 Annual Report can be consulted at https://nmg.com/wp-content/uploads/2026/03/NMG-2025-Annual-Report.pdf
Matawinie Mine Path to FID
On the back of the 2025 Matawinie Mine Feasibility Study results, commercial arrangements covering approximately 75% of the future production, and substantial project advancement, the Phase-2 Matawinie Mine has demonstrated project maturity and construction readiness. Detailed engineering supports procurement activities. Major contracts for key construction capacity, services, equipment and materials have been awarded, representing over 50% of the project’s CAPEX and within estimates. Pomerleau has been appointed Construction Manager, while major contracts have been awarded to ABB for the fully electrified 120 kV substation, Metso for key concentrator and mineral processing equipment, Manawan-Fournier for the main civil works package, and Beauce Atlas for structural steel, subject to finalization of select clauses. In parallel, construction planning, procurement activities, and engagement with local and Indigenous businesses are advancing to finalize execution plans, schedules, and health, safety, environmental and quality programs ahead of FID.
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The project financing process for the Phase-2 Matawinie Mine is nearing completion. NMG has secured a senior secured project financing debt commitment letter with Export Development Canada (“EDC”) and Canada Infrastructure Bank (“CIB”) to support the construction, development and commissioning of the Matawinie Mine. Facilities totaling US$335 million will be available upon completion of the definitive documentation, final legal, insurance and regulatory due diligence, and satisfaction of customary conditions precedents. NMG is actively progressing its negotiations with targeted strategic investors for the equity component of the project financing with a view to completing the financing structure in a timely manner.
Bécancour Battery Materials Plants Development
The Company is advancing a two-stage development plan for its Phase-2 Bécancour Battery Material Plants, leveraging contiguous brownfield and greenfield sites. NMG’s acquisition of a 143,000-m2 brownfield site includes a 22,000-m2 facility, large storing and logistics area, and connections to key industrial infrastructure that the Company plans to leverage to build a first production capacity of active anode material dedicated to Panasonic Energy Co., Ltd’s (“Panasonic Energy”).
Leveraging the technology and engineering work carried out thus far, the Company is working to retrofit its plan to the newly acquired building and develop a Class 3 estimate as per the American Association of Cost Engineers (“AACE”) Recommended Practice 47R-11 for this brownfield development. The industrial building and associated infrastructure should enable the Company to lower infrastructure costs, optimize CAPEX per tonne costs for this first stage development, and streamline permitting, engineering, and construction timelines to align the commissioning period with that of the Matawinie Mine. The Company is working with its strategic shareholders and targeted financial partners toward a Bécancour FID in H2-2026.
Corporate
In addition to established commercial arrangements with Panasonic Energy, the Government of Canada and Traxys Group, the Company is actively engaged with other tier-1 potential customers interested in NMG’s Phase-2 production for natural flake graphite, active anode material, and/or specialized graphite materials for niche applications. The Company’s Phase-1 operations support technical marketing and product qualification efforts with said customers.
The Company is committed to the safe and responsible conduct of operations. For the twelve-month rolling period ended December 31, 2025, NMG reported a total recordable injury frequency rate (“TRIFR”) of 3.92 at the Company’s facilities. In 2025, NMG maintained its track record with no major environmental incidents.
As it prepares for the construction activities ahead, the Company remains actively engaged with local communities, First Nations, and stakeholders to ensure a supportive environment for operational deployment. Engagement is tailored to specific realities and priorities, striving to maximize benefits and participation in NMG’s projects.
NMG has taken concrete steps to avoid, reduce, and fully offset its GHG emissions, confirming its carbon-neutral status and mapping its intended transition to Net Zero by 2030 (Scope 1, Scope 2, and some Scope 3 emissions). For 2025, the Company reports GHG emissions of 744 tonnes of CO2 equivalent for carrying out its operations at its Phase-1 demonstration plants and corporate offices. NMG has purchased and retired VCS-certified carbon credits to offset this balance. Detailed performance will be reviewed in NMG’s 2025 ESG Report set to be issued in Q2-2026.
The Company ended the year with a cash position of approximately CA$74 million.
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Market Perspective
Global investment in the energy transition reached a record US$2.3 trillion in 2025, representing an 8% year-over-year increase despite macroeconomic headwinds and policy variability (BloombergNEF, January 2026). Capital deployment remained concentrated in electrified transport, renewable generation, grid infrastructure, and energy storage.
While structural drivers – including energy security, decarbonization efforts, industrial competitiveness and supply chain resilience – remain intact, 2025 marked a period of recalibration across several segments. Higher interest rates, geopolitical fragmentation as well as evolving governmental agendas and incentives contributed to a more selective investment cycle (Forbes, February 2026). The long-term trajectory toward electrification remains clear; however, timelines are adjusting to reflect more measured adoption curves (CNBC, December 2025).
Automakers sold a record number of EVs globally in 2025 with forecasts for another 24.3 million passenger EVs to be sold in 2026, representing a potential 12% growth over 2025 levels (Bloomberg, January 2026). The situation reflects a combination of reduced Chinese subsidies, evolving European internal combustion engine phase-out discussions and shifting U.S. policy signals. Industry analysts characterize this development as normalization rather than structural decline, with U.S. EV penetration projected to approach approximately 19% of total light vehicle sales by 2030 (CNBC, December 2025). In parallel, certain OEMs adjusted EV capital expenditure programs while increasing focus on battery technologies and energy storage applications.
EV infrastructure expansion continued at pace in North America, with the U.S. adding charging at a record rate in 2025, particularly in the fourth quarter (Bloomberg, January 2026). Expanded fast-charging capacity is expected to support longer-term EV adoption through improved consumer confidence and vehicle utilization economics.
Despite evolving policy environments, renewable electricity generation reached record levels in 2025. U.S. utilities generated approximately 1,162 TWh of electricity from renewable sources, representing 26% of total electricity production for the year (Bloomberg, January 2026). These dynamics reinforce the structural role of renewables in energy mixes and support continued demand for complementary storage technologies. Grid-scale energy storage systems (“ESS”) continued to expand rapidly in 2025. Over 246 GWh of new capacity came online globally during the year, representing a 46% year-over-year increase (Rho Motion, January 2026).
| » | The U.S. added approximately 47 GWh of grid-scale ESS capacity (+19% year-over-year) (Rho Motion, January 2026). |
| » | Europe commissioned over 10 GWh of new large-scale ESS capacity (+28% year-over-year), led by the United Kingdom (+34%) (Rho Motion, January 2026). |
| » | Battery installations have become a major source of new electricity capacity in the U.S., second only to solar generation in 2025 (Washington Post, January 2026). The acceleration of grid storage reflects structural demand for renewable integration, grid stabilization and energy security. |
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With sustained demand pressure driven by the global energy transition and a push from Western jurisdictions to bolster local manufacturing and national security, governments intensified policy actions aimed at guaranteeing access to critical minerals and strengthening domestic and allied processing capacity.
| » | A Section 232 investigation into processed critical minerals and derivative products concluded that the U.S. is fully import-reliant for 12 critical minerals and heavily reliant for 29 additional minerals, with limited domestic processing capacity (U.S. Department of Commerce, January 2026). The U.S. administration issued a proclamation establishing mechanisms to secure critical mineral imports, including a directive to federal agencies to negotiate supply agreements and consider trade measures (White House Proclamation following Section 232 Investigation, January 2026). |
| » | The U.S. also launched Project Vault, backed by a US$10 billion commitment from the Export-Import Bank of the United States (“EXIM”) and nearly US$2 billion in private-sector investment, which establishes the U.S. Strategic Critical Minerals Reserve as an independently governed public-private partnership intended to store essential raw materials and enhance long-term supply chain resilience (EXIM, February 2026). |
| » | Canada launched the Critical Minerals Production Alliance under its G7 2025 Presidency aimed at strengthening supply chains and reduce strategic vulnerabilities. After an initial announcement of 26 investments, partnerships and policy measures designed to unlock about $6.4 billion in critical minerals projects – including NMG’s Phase-2 Matawinie Mine – Canada released over $3.6 billion in new programs and investments (Natural Resources Canada, March 2026). |
| » | Canada and Japan announced a Comprehensive Strategic Partnership to deepen cooperation on security, economic resilience – including energy and critical minerals – , trade, investment, and technology (Government of Canada, March 2026). |
| » | Canada and India signed an MoU on cooperation in critical minerals value chains, covering exploration, mining, beneficiation, processing, investment promotion, technical exchange and ESG best practices with a view to support trade, investment and supply chain diversification between the two countries (Government of Canada, March 2026). |
| » | Canada and Greenland signed a Joint Declaration of Intent on critical minerals and energy cooperation, aimed at strengthening collaboration on geological knowledge, energy security, energy transition solutions, ESG best practices and commercial partnerships for critical mineral supply chains (Government of Canada, March 2026). |
| » | Canada and the European Investment Bank signed a Letter of Intent to explore cooperation on critical raw materials, building on the existing EU-Canada Strategic Partnership on Raw Materials to support secure, sustainable and diversified supply chains for minerals and metals critical to the green and digital transitions (Government of Canada, March 2026). |
| » | Québec and Germany signed a joint declaration on critical minerals cooperation along with several corporate agreements aimed at bolstering supply chains for EV, defense and renewable energy materials (Government of Québec, March 2026). |
| » | Canada advanced its critical minerals diplomacy through a memorandum of understanding with Saudi Arabia’s Ministry of Industry and Mineral Resources to strengthen cooperation in mineral value chains, promote trade and investment and support sustainable supply chains (Government of Canada, January 2026). |
| » | In Europe, governments continued to advance industrial and trade policy frameworks aimed at securing critical mineral supply chains. The European Union’s Critical Raw Materials Act establishes targets to limit reliance on any single third country. Implementation of the Act includes the designation of strategic mining and processing projects as well as the development of international partnerships with resource-rich countries such as Canada to diversify supply chains and attract investment (European Commission, March 2026). |
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Collectively, these developments reflect a structural shift toward national security-driven mineral policy, domestic processing capacity and allied supply chain integration. Policymakers are increasingly focused on midstream and downstream processing capacity, not solely raw material extraction. This emphasis aligns with identified gaps in Western processing capacity and underscores the strategic importance of integrated supply chains.
Natural graphite, a designated critical mineral in Canada, the U.S., the European Union, Australia, the United Kingdom and NATO, continues to be tied to a single-source supply chain (U.S. Geological Survey, 2026). While EV demand growth moderated relative to prior years, battery manufacturing continues to scale in response to cumulative fleet growth, charging infrastructure expansion and accelerating grid storage deployment (Bloomberg, January 2026). The diversification of battery applications into utility-scale storage further broadens the long-term demand base for anode materials and graphite.
| » | Flake graphite prices remained globally flat during the year and into early 2026 (Benchmark Mineral Intelligence, February 2026). |
| » | Global lithium-ion battery production is expected to reach approximately 10.6 TWh in 2035, reflecting continued structural growth driven by electric mobility, energy storage and industrial electrification (Benchmark Mineral Intelligence, February 2026). |
| » | Global anode material production capacity is projected to reach 35.8 million tpa by 2035, directly driving demand growth for natural graphite, reflecting the material intensity of anode manufacturing (Benchmark Mineral Intelligence, February 2026). |
| » | While China is expected to remain dominant, North America’s share of global anode capacity could rise from less than 1% today to over 5% by 2035, reflecting policy incentives and supply-chain diversification strategies (Benchmark Mineral Intelligence, February 2026) |
| » | Global natural graphite demand, generated by both energy and industrial markets, is forecasted to reach 2.953 million tpa by 2035 (Benchmark Mineral Intelligence, March 2026). |
While short-term market adjustments may influence capital deployment timing and offtake decision cycles, underlying drivers – including energy security, industrial sovereignty, decarbonization, and grid resilience – continue to support sustained medium-and long-term demand for battery materials.
About Nouveau Monde Graphite
Nouveau Monde Graphite is an integrated company developing responsible mining and advanced processing operations to supply the global economy with carbon-neutral advanced graphite materials. The Company is developing in Québec, Canada, a fully integrated ore-to-processed-graphite value chain to serve tomorrow’s industries in energy, advanced technology, and manufacturing. With recognized ESG standards and structuring partnerships with major customers, NMG is set to become a strategic supplier of advanced materials to leading specialized manufacturers while promoting sustainability, innovation, and supply chain traceability. www.NMG.com
Contact MEDIA |
INVESTORS |
Julie Paquet VP Communications & ESG Strategy +1-450-757-8905 #140 jpaquet@nmg.com |
Marc Jasmin Director, Investor Relations +1-450-757-8905 #993 mjasmin@nmg.com |
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Cautionary Note Regarding Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation (collectively, “forward-looking statements”), including, but not limited to, statements relating to future events or future financial or operating performance of the Company and reflect management’s expectations and assumptions regarding the Company’s growth, results, performance and business prospects and opportunities. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to it. These forward-looking statements include, but are not limited to, the Facilities, the intended development of the Matawinie Mine and the intended development of the First-Stage Bécancour Battery Material Plant, the Company’s ability to successfully execute definitive agreements in respect of the Facilities, on the terms and conditions described herein and/or set forth in the commitment letter or at all, completion of due diligence by EDC and CIB, the satisfaction of customary closing conditions, the expected use of proceeds, the Company’s ability to secure a positive FID for the Phase-2 Matawinie, the Company’s ability to negotiate and complete strategic equity investments and the terms and conditions thereof, the completion of the Phase-2 Matawinie Mine, the ability to execute the construction and the commissioning as planned and in accordance with the execution plan and strategy for the Matawinie Mine and the First-Stage Bécancour Battery Material Plant, the results of the 2025 Matawinie Mine Feasibility Study, the ability of all contractors and suppliers of the Company to deliver in accordance with their commitment, the expected results and anticipated benefits for the communities involved, including the Atikamekw First Nation of Manawan and the local community of Saint-Michel-des-Saints, the impact of the market perspective for the Company, and the expected results of the initiatives described in this press release, and those statements which are discussed under the “About Nouveau Monde Graphite” paragraph and elsewhere in the press release which essentially describe the Company’s outlook and objectives.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions are not guarantees of future performance and may prove to be incorrect. Moreover, these forward-looking statements are based upon various underlying factors and assumptions, including the ability of the Company to enter into definitive agreements with respect to the Facilities, the results of the due diligence of EDC and CIB, the ability of the Company to be able to satisfy all conditions to closing in respect of the Facilities, the ability of the Company to negotiate and complete strategic equity investments, the business relationship between the Company and its stakeholders, the ability to obtain sufficient financing for the development of the Matawinie Mine and the Bécancour Battery Material Plant and the First-Stage Bécancour Battery Material Plant, and the Company’s ability to satisfy the due diligence processes of the stakeholders, and are not guarantees of future performance.
Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, availability of financing or financing on favorable terms for the Company, delays in finalizing the definitive agreements, delays in reaching FID, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG’s Annual Information Form dated March 25, 2026, including in the section thereof captioned “Risk Factors”, which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.
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Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Further information regarding the Company is available in the SEDAR+ database (www.sedarplus.ca), and for United States readers on EDGAR (www.sec.gov), and on the Company’s website at: www.NMG.com.
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FAQ
What major financing did Nouveau Monde Graphite (NMG) secure for the Matawinie Mine?
What are the key terms of NMG’s updated offtake framework with the Government of Canada?
How much of NMG’s Phase-2 Matawinie Mine production is covered by offtake agreements?
What progress has NMG made toward construction readiness at the Matawinie Mine?
What is NMG’s plan for the Bécancour Battery Material Plants?
What were NMG’s year-end 2025 cash and key ESG metrics?
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