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Nemaska Lithium Inc
Symbol NMX
Shares Issued 847,634,338
Close 2019-12-20 C$ 0.165
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Nemaska Lithium appoints Mallette chairman

2020-01-20 11:01 ET - News Release

Mr. Jacques Mallette reports


Nemaska Lithium Inc. has appointed Jacques Mallette as chairman of the board, effective Jan. 19, 2020. Mr. Mallette has acted in capacity of director of the corporation since March 8, 2019.

Mr. Mallette, who has more than 35 years of experience as chief executive officer (CEO), chief financial officer (CFO) and director of international companies, brings his expertise and skills to guide the corporation's management and strategic teams in their efforts to carry out the restructuring under way in the context of the process initiated under the Companies' Creditors Arrangement Act. Among other significant experiences, Mr. Mallette was the architect in the restructuring of a major company, between 2007 and 2009, as its CEO when the latter sought protection from its creditors in Canada and the United States.

"I am honoured by the confidence my fellow directors have placed in me with this appointment, and I intend to pursue my work with them with the same determination and dedication that I have shown since joining Nemaska Lithium's board. We are still convinced that corporation's Whabouchi project is of great importance for Quebec's economic development and a key player in the worldwide increasing lithium ion battery industry. As such, we have at heart to successfully deliver the project in a timely manner and in the best interest of all stakeholders," said Mr. Mallette.

The appointment of Mr. Mallette follows the decision of Michel Baril to step down as chairman of the board. Mr. Baril will continue to share his experience and knowledge as a member of the board of directors. "It has been a great honour for me to be part of Nemaska Lithium's adventure as chairman from the very beginning of the Whabouchi project in 2009. As we face significant challenges, I would like to offer my entire collaboration and support to Mr. Mallette in his new role, and I am fully confident that the team in place have all the resources needed to carry out this great project," added Mr. Baril.

Nemaska Lithium continues its review of strategic alternatives with its legal and financial advisers in order to restructure its capital, in addition to the work under way with CCAA proceedings and the litigation with the Nordic trustee. More information regarding the corporation's situation, decisions or actions will continue to be provided on a continuing basis, as required by applicable law or as may be determined by the corporation or the court.

About Nemaska Lithium Inc.

Nemaska Lithium is a developing chemical company whose activities will be vertically integrated, from spodumene mining to the commercialization of high-purity lithium hydroxide.

We seek Safe Harbor.

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