Mr. Guy Bourassa reports

NEMASKA LITHIUM CONFIRMS CLOSING OF A $13,000,000 PRIVATE PLACEMENT

Nemaska Lithium Inc. has closed a non-brokered private placement of $13-million by the issuance of 38,235,295 units at a price of 34 cents per unit in favour of Ressources Quebec Inc. (29,411,765 units for $10-million), acting as mandatory for the government of Quebec, and Nemaska Development Corp. (8,823,530 units for $3-million). This private placement was previously announced on March 11, 2016.

The corporation intends to use the net proceeds of the private placement for the construction and operation costs of the phase 1 plant that will produce lithium hydroxide and for general expenses.

Each unit consists of one common share of the corporation and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles its holder to purchase one common share of the corporation at a price of 48 cents at any time prior to 5 p.m. (Montreal time) on the date that is 24 months following the closing date.

The private placement with Ressources Quebec Inc. was closed under escrow until the conclusion of the formal agreements to be concluded with Johnson Matthey Battery Materials Ltd. in connection with the financing of an upfront payment of $12-million in exchange for services and products of the same value from the phase 1 plant and the subsequent commercial plant.

We seek Safe Harbor.