Mason Graphite has announced the sale of its investment in NanoXplore - the Company sold 22,188,333 common shares for a total net consideration of CAD$28.2 million (around USD$21.5 million). These common shares, representing 18.3% of NanoXplore, were acquired through various private placements by NanoXplore at a total cost of $4.5 million. After this sale, Mason Graphite no longer holds any common shares of NanoXplore.
The shares were sold to a group of buyers that included Martinrea International, Caisse de dépôt et placement du Québec, and Investissement Quebec. As of today, Martinrea holds 30,199,800 shares of NanoXplore which represents approximately 25% of the total outstanding shares of the Corporation.
Soroush Nazarpour, CEO of NanoXplore, commented on the change in the Corporation’s ownership: We are excited to welcome Investissement Quebec (investment arm of the Quebec government) and Caisse de dépôt et placement du Québec as new shareholders of the company. We are also thrilled that Martinrea has decided to further increase its shareholder position. We continue to strategically develop graphene-related solutions that will drastically separate Martinrea from the rest of the competition within the automotive space. We would like to thank Mason Graphite for all their support over the last few years and we will continue with our relationship as NanoXplore expands its graphene production capabilities. Mason Graphite’s decision was a necessary step to further progress the development of its mining project and we wish Mason’s management team future success.