Mr. Guy Bourassa reports

NEMASKA LITHIUM ANNOUNCES A $13M PRIVATE PLACEMENT OF WHICH $10M WILL BE USED TO FINANCE THE PHASE 1 LITHIUM HYDROXIDE PLANT

Nemaska Lithium Inc. has arranged a private placement of an aggregate amount of $13-million, of which $10-million comes from Ressources Quebec Inc., acting as a mandatary for the government of Quebec, and $3-million from the Cree community of Nemaska through the Nemaska Development Corp., the whole by the issuance of an aggregate of 38,235,295 units at a price of 34 cents per unit. It is expected that the closing of the offering occurs no later than March 25, 2016. The issue price is approximately a 15-per-cent discount to the 10-day volume-weighted average market price at the signing of the memorandum of understanding with Johnson Matthey Battery Materials Ltd. (JMBM) on Nov. 19, 2015.

"This investment shows a commitment from the government of Quebec and the Cree community of Nemaska to our project," commented Guy Bourassa, president and chief executive officer of Nemaska. "The Crees have been long-term shareholders, having invested in the corporation when we were still private. We are pleased that they continue to show their support and remain strong advocates of developing a successful lithium project in Quebec. Likewise the government of Quebec has been very supportive of our strategy to build a phase 1 plant to attract customers and sign offtake agreements while we build the Whabouchi mine and commercial hydromet plant in Shawinigan. This is the final portion of the overall phase 1 plant budget of $38-million, of which we were able to secure $28-million in non-dilutive financing through government contributions and advance payment for products and services from the phase 1 plant. Our next step is to finalize the JMBM agreement and start construction. We have customers calling us daily, looking to secure lithium hydroxide, and with this facility, we will be in a position to respond with product samples. The demand for lithium hydroxide is growing at a rate never seen before in the industry, and we are perfectly timed to come to market with a high-quality product."

Each unit is composed of one common share of the share capital of the corporation and one-half of one common share purchase warrant. Each whole common share purchase warrant will entitle its holder to subscribe for one common share at a price of 48 cents for a period of 24 months following the closing date of the offering.

The proceeds of the offering will be used to finance the construction and operation costs of the phase 1 plant that will produce lithium hydroxide and for general expenses.

Unlike the NDC offering, the RQ offering remains subject to certain conditions, including the closing of a concurrent financing in the form of a $12-million advance payment from JMBM, for which the MOU was announced in November, 2015. The MOU provides for the payment of a $12-million advance by JMBM in exchange of products and services of equal value coming from the phase 1 plant and from the commercial hydromet plant to be built in Shawinigan, Que. Consequently, the gross proceeds of the RQ offering will be held in escrow at the closing date of the offering and will not be paid to the corporation until all closing conditions of the RQ offering have been met to Ressources Quebec Inc.'s satisfaction.

The offering remains subject to the approval of the TSX Venture Exchange. All of the securities to be issued according to the offering will be subject to a four-month-and-one-day restriction period pursuant to the applicable securities regulation.

We seek Safe Harbor.