06:06 PM EDT, 04/09/2026 (MT Newswires) -- Nouveau Monde Graphite ( NMG ) said Thursday it secured a $297 million equity financing package to advance its Phase-2 Matawinie Mine project in Quebec toward a final investment decision.

The package includes a $213 million private placement from the Canada Growth Fund, the government of Quebec and Eni (E), along with an $84 million bought-deal public offering of subscription receipts.

Completion of the private placement is subject to regulatory and shareholder approval at Nouveau Monde Graphite's ( NMG ) annual meeting on May 13. Shareholders Panasonic and Mitsui have expressed their intention to vote in favor of the approvals, the company said.

Nouveau Monde Graphite ( NMG ) shares fell 11% in after-hours trading.