Nemaska Lithium Inc.

TSX VENTURE : NMX
OTCQX : NMKEF


Nemaska Lithium Inc.

April 15, 2014 10:47 ET

Nemaska Lithium Announces Closing of Over-Allotment Option

QUEBEC CITY, QUEBEC--(Marketwired - April 15, 2014) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. WIRE NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Nemaska Lithium Inc. ("Nemaska" or the "Corporation") (TSX VENTURE:NMX)(OTCQX:NMKEF) announces today the closing of an offering pursuant to which an aggregate of 3,900,000 units of the Corporation (the "Units"), at a price of $0.125 per Unit, were issued for an aggregate gross proceeds of $487,500. This closing follows the exercise in full by Secutor Capital Management Corporation (the "Agent") of the over-allotment option granted in connection with the supplemental prospectus offering of the Corporation which closed initially on April 2, 2014 (the "Offering"). As a result of the exercise of the over-allotment option, the aggregate gross proceeds to Nemaska pursuant to the Offering now total $3,737,500.

Each Unit is comprised of one common share of the share capital of Nemaska (a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant entitles its holder to purchase one Common Share, at a price of $0.20 per Common Share, on the date that is 18 months following the closing date of the Offering, being up to October 2, 2015.

The net proceeds from the exercise of the over-allotment option are in addition to the funds available following the Offering dated April 2, 2014 which will allow the Corporation to (i) continue the permitting process for the mine and concentrator on the Whabouchi property, (ii) complete the feasibility study for the Whabouchi Project and the hydrometallurgical plant in Salaberry-de-Valleyfield and (iii) fund the Corporation's general administrative expenses and other working capital needs for the next year.

In consideration for its services rendered in connection with the exercise of the over-allotment option, the Agent received an aggregate cash commission of $39,000.

The securities have not been registered under the United States Securities Act of 1933 (the "Act") or any state securities laws and may not be offered or sold absent registration under the Act and applicable state securities laws or an applicable exemption from the registration requirements thereof. This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or an exemption there from.

About Nemaska

Nemaska intends to become a lithium hydroxide/carbonate producer based in Québec, Canada, and has filed patent applications for its proprietary production methods. In tandem, Nemaska 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 Corporation's lithium hydroxide/carbonate processing plant to be built in Salaberry-de-Valleyfield, Québec, Canada. This plant will transform spodumene concentrate into high purity lithium hydroxide and lithium carbonate mainly for the growing lithium battery market. The Nemaska's Whabouchi deposit, located in the James Bay Region in the Province of Québec, 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.

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