08:37 AM EDT, 07/02/2024 (MT Newswires) -- Nouveau Monde Graphite ( NMG ) said on Tuesday that it will issue shares to pay accrued interests owed to Investissement Quebec due June 30 under an unsecured convertible note.

Nouveau Monde will issue about 172,000 shares priced at US$1.89 apiece, raising about about US$325,000.

The company also said interest under the unsecured convertible notes it issued to Mitsui & Co. and Pallinghurst Bond under private placements announced in February and May, respectively, has ceased to accrue as of Feb. 14.

Nouveau Monde's share price was trading 0.27% higher at last look in NYSE pre-market trading at US$1.86.