Nemaska Lithium Revises C$25Million QSSP II Eligible Offering

02 April 2013

QUÉBEC CITY, QUÉBEC--(Marketwired - April 2, 2013) -


Nemaska Lithium Inc. announced today that the Company and the syndicate of co-led by Euro Pacific Canada Inc., as sole book runner, and Casimir Capital Ltd., and including Mackie Research Capital Corp. Ltd. and National Bank Financial have agreed to amend and revise the terms of its previously announced public offering. Under the revised terms, the Underwriters have agreed to a marketed offering of 62.5 million units in the capital of the corporation at a price of 30 cents per unit. Each unit comprises one common share of Nemaska and one-half of a common share purchase warrant. Each whole warrant is exercisable for a period of 24 months from the date of closing to purchase one common share of Nemaska at a price of 40 cents.

The corporation plans to use the proceeds of the offering to start the detailed engineering and to make deposits for the acquisition of long-lead items in connection with the construction of a phase 1 processing plant in Salaberry-de-Valleyfield, Que. Also, the net proceeds will be used to start the construction of the phase 1 processing plant, and continue with the permitting process and studies for the Whabouchi project in order to obtain the required environmental permit for such property, as well as for general corporate purposes.

The Company will be amending the prospectus supplement filed to reflect the re-pricing of the Offering. A copy of the amended prospectus supplement may be obtained from the corporation's corporate secretary by e-mailing or directing a request to Nemaska Lithium at 450 rue de la Gare-du-Palais, first floor, Que., G1K 3X2, telephone 418-704-6038, attention: corporate secretary, or it can be found on SEDAR.

About Nemaska

Nemaska intends to become a lithium hydroxide/carbonate producer based in Quebec and has filed patent applications for its proprietary methods to produce lithium hydroxide and lithium carbonate. In tandem, the Company is developing one of the richest spodumene lithium hard rock deposit in the world, both in volume and grade. Spodumene concentrate produced at Nemaska's Whabouchi mine and from other global sources will be shipped to the Company's lithium hydroxide/carbonate processing plant located in Salaberry-de-Valleyfield, Quebec. This plant will transform spodumene concentrate into high purity lithium hydroxide and lithium carbonate for the growing lithium battery market. The Nemaska's Whabouchi deposit, located in the James Bay Region in the Province of Quebec, Canada, near the Cree community of Nemaska, should have an initial mine life of 18 years.

Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Nemaska to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.