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NMG and Panasonic Energy Announce Progress Update on Technological and Commercial Collaboration as Canada …

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OTTAWA, Ontario — Nouveau Monde Graphite Inc. (“NMG“ or the “Company”) ( NYSE: NMGTSX.V: NOU) and Panasonic Energy Co., Ltd. (“Panasonic Energy”), a wholly owned subsidiary of Panasonic Holdings Corporation (“Panasonic”) (TYO: 6752), diligently progress through their technological engagement and commercial discussions toward a definitive offtake agreement on the foundation of their framework agreement targeting NMG’s fully integrated ore-to-anode-material production.

As previously disclosed, Panasonic Energy considers purchasing NMG’s commercial production out of its Phase-2 Bécancour Battery Material Plant. The contemplated commercial agreement echoes Panasonic Energy’s commitment to reduce its carbon footprint by 2031. It also reiterates NMG’s attractive and responsible business model set to supply the North American battery market with a high-quality, local, and sustainable source of active anode material.

 

Thanks to active technical engagement between the parties, samples produced at NMG’s Phase-1 facilities are now being tested within Panasonic Energy’s battery prototype production line, enabling the diligent progress of the qualification process. Supporting this work and underlying commercial discussions, NMG and Panasonic Energy actively cooperate to strengthen technological development and process optimization for NMG’s active anode material production in line with Panasonic Energy’s specifications and quality standards.

 

Kazuo Tadanobu, President and CEO of Panasonic Energy, stated, “Today, the Japanese and Canadian governments signed a Memorandum of Cooperation (MOC) to deepen their bilateral partnership. I welcome the leadership demonstrated by the two governments to establish a sustainable and reliable battery supply chain. Panasonic Energy will help strengthen bilateral cooperation in the private sector, including through the partnership with NMG, to contribute to the industrial development of the two countries.”

 

Arne H Frandsen, Chair of NMG, declared: “Engagement over the past months has been intensive, we are delighted to now see our active anode material being tested in the Panasonic Energy’s prototype line in Japan in advance with mass production line in North America. With Panasonic Energy as a technical partner, NMG is benefiting from a depth of battery expertise to further elevate technology as the Company gears up to enter its Phase-2 commercial development. The continuous collaboration between NMG and Panasonic Energy, both on technological and commercial parameters, testifies to our joint efforts to fast-track the deployment of NMG’s full-scale production.”

The reinforced relationship echoes the Government of Canada and Government of Japan’s partnership to strengthen trade and cooperation for the development of a sustainable, competitive clean energy economy as announced today. NMG’s integrated business plan aligns with these active efforts to enhance the resilience of critical mineral global supply chains, localize advanced manufacturing for the North American market, improve adherence to environmental, social, and governance (“ESG”) standards, and foster new investment opportunities.

 

The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, stated: “Canada and Japan are committed to advancing our shared ambitions to develop sustainable and reliable global battery supply chains. The advancement of commercial discussions between Panasonic and Nouveau Monde Graphite is another step towards a stronger domestic critical minerals ecosystem. I’m proud to see that Quebec and our companies continue to attract the world’s leading players to our innovative ecosystems for the benefit of our environment, and our economy while creating well-paying jobs for years to come.”

 

Eric Desaulniers, Founder, President, and CEO of NMG, added: “Conditions for success are aligning as we refine performance and efficiency of our production, define long-term sales mechanisms to capture market growth, tap into trade partnerships, and optimize our financial structure for project financing. Intergovernmental cooperation paired with industrial collaboration as we see form the bedrock of tomorrow’s clean energy economy; NMG is part of this generational transition toward a low-carbon future.”

 

NMG is actively working to set strong commercial foundations via sales and investment agreements, plus engaging with international lenders and governmental branches as they assess the opportunity of supporting the Company’s Phase-2 development.

 

About Nouveau Monde Graphite

 

Nouveau Monde Graphite is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada, for the growing lithium-ion and fuel cell markets. With enviable ESG standards, NMG aspires to become a strategic supplier to the world’s leading battery and automobile manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability. www.NMG.com

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A timeline of events in the bread price-fixing scandal

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Almost seven years since news broke of an alleged conspiracy to fix the price of packaged bread across Canada, the saga isn’t over: the Competition Bureau continues to investigate the companies that may have been involved, and two class-action lawsuits continue to work their way through the courts.

Here’s a timeline of key events in the bread price-fixing case.

Oct. 31, 2017: The Competition Bureau says it’s investigating allegations of bread price-fixing and that it was granted search warrants in the case. Several grocers confirm they are co-operating in the probe.

Dec. 19, 2017: Loblaw and George Weston say they participated in an “industry-wide price-fixing arrangement” to raise the price of packaged bread. The companies say they have been co-operating in the Competition Bureau’s investigation since March 2015, when they self-reported to the bureau upon discovering anti-competitive behaviour, and are receiving immunity from prosecution. They announce they are offering $25 gift cards to customers amid the ongoing investigation into alleged bread price-fixing.

Jan. 31, 2018: In court documents, the Competition Bureau says at least $1.50 was added to the price of a loaf of bread between about 2001 and 2016.

Dec. 20, 2019: A class-action lawsuit in a Quebec court against multiple grocers and food companies is certified against a number of companies allegedly involved in bread price-fixing, including Loblaw, George Weston, Metro, Sobeys, Walmart Canada, Canada Bread and Giant Tiger (which have all denied involvement, except for Loblaw and George Weston, which later settled with the plaintiffs).

Dec. 31, 2021: A class-action lawsuit in an Ontario court covering all Canadian residents except those in Quebec who bought packaged bread from a company named in the suit is certified against roughly the same group of companies.

June 21, 2023: Bakery giant Canada Bread Co. is fined $50 million after pleading guilty to four counts of price-fixing under the Competition Act as part of the Competition Bureau’s ongoing investigation.

Oct. 25 2023: Canada Bread files a statement of defence in the Ontario class action denying participating in the alleged conspiracy and saying any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods, which is not a defendant in the case (neither is its current owner Grupo Bimbo). Maple Leaf calls Canada Bread’s accusations “baseless.”

Dec. 20, 2023: Metro files new documents in the Ontario class action accusing Loblaw and its parent company George Weston of conspiring to implicate it in the alleged scheme, denying involvement. Sobeys has made a similar claim. The two companies deny the allegations.

July 25, 2024: Loblaw and George Weston say they agreed to pay a combined $500 million to settle both the Ontario and Quebec class-action lawsuits. Loblaw’s share of the settlement includes a $96-million credit for the gift cards it gave out years earlier.

Sept. 12, 2024: Canada Bread files new documents in Ontario court as part of the class action, claiming Maple Leaf used it as a “shield” to avoid liability in the alleged scheme. Maple Leaf was a majority shareholder of Canada Bread until 2014, and the company claims it’s liable for any price-fixing activity. Maple Leaf refutes the claims.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:L, TSX:MFI, TSX:MRU, TSX:EMP.A, TSX:WN)

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 250 points, U.S. stock markets also higher

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TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.

The S&P/TSX composite index was up 254.62 points at 23,847.22.

In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.

The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.

The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.

The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Construction wraps on indoor supervised site for people who inhale drugs in Vancouver

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VANCOUVER – Supervised injection sites are saving the lives of drug users everyday, but the same support is not being offered to people who inhale illicit drugs, the head of the BC Centre for Excellence in HIV/AIDS says.

Dr. Julio Montaner said the construction of Vancouver’s first indoor supervised site for people who inhale drugs comes as the percentage of people who die from smoking drugs continues to climb.

The location in the Downtown Eastside at the Hope to Health Research and Innovation Centre was unveiled Wednesday after construction was complete, and Montaner said people could start using the specialized rooms in a matter of weeks after final approvals from the city and federal government.

“If we don’t create mechanisms for these individuals to be able to use safely and engage with the medical system, and generate points of entry into the medical system, we will never be able to solve the problem,” he said.

“Now, I’m not here to tell you that we will fix it tomorrow, but denying it or ignoring it, or throw it under the bus, or under the carpet is no way to fix it, so we need to take proactive action.”

Nearly two-thirds of overdose deaths in British Columbia in 2023 came after smoking illicit drugs, yet only 40 per cent of supervised consumption sites in the province offer a safe place to smoke, often outdoors, in a tent.

The centre has been running a supervised injection site for years which sees more than a thousand people monthly and last month resuscitated five people who were overdosing.

The new facilities offer indoor, individual, negative-pressure rooms that allow fresh air to circulate and can clear out smoke in 30 to 60 seconds while users are monitored by trained nurses.

Advocates calling for more supervised inhalation sites have previously said the rules for setting up sites are overly complicated at a time when the province is facing an overdose crisis.

More than 15,000 people have died of overdoses since the public health emergency was declared in B.C. in April 2016.

Kate Salters, a senior researcher at the centre, said they worked with mechanical and chemical engineers to make sure the site is up to code and abidies by the highest standard of occupational health and safety.

“This is just another tool in our tool box to make sure that we’re offering life-saving services to those who are using drugs,” she said.

Montaner acknowledged the process to get the site up and running took “an inordinate amount of time,” but said the centre worked hard to follow all regulations.

“We feel that doing this right, with appropriate scientific background, in a medically supervised environment, etc, etc, allows us to derive the data that ultimately will be sufficiently convincing for not just our leaders, but also the leaders across the country and across the world, to embrace the strategies that we are trying to develop.” he said.

Montaner said building the facility was possible thanks to a single $4-million donation from a longtime supporter.

Construction finished with less than a week before the launch of the next provincial election campaign and within a year of the next federal election.

Montaner said he is concerned about “some of the things that have been said publicly by some of the political leaders in the province and in the country.”

“We want to bring awareness to the people that this is a serious undertaking. This is a very massive investment, and we need to protect it for the benefit of people who are unfortunately drug dependent.” he said.

This report by The Canadian Press was first published Sept. 18, 2024.

The Canadian Press. All rights reserved.

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