Canada Growth Fund Inc. Increases Stake in Nouveau Monde Graphite to 24.1% via Private Placement

Canada Growth Fund Inc. (CGF) and its manager, Canada Growth Fund Investment Management Inc., filed a Schedule 13D/A reporting a significant increase in their position in Nouveau Monde Graphite Inc. (NMG). On May 13, 2026, following shareholder approval at NMG's annual general meeting, CGF completed the purchase of 44,452,460 common shares through a private placement for approximately US$81.8 million. This follows a previous December 2024 investment of US$25 million. As a result of these transactions, CGF beneficially owns 84,134,998 common shares, which includes 19,841,269 shares issuable upon the exercise of warrants. This represents approximately 24.1% of the company's outstanding shares. In connection with the investment, CGF exercised its right to nominate a director, resulting in the election of Hubert T. Lacroix to the NMG Board. The reporting persons intend to monitor their investment and may engage in further discussions with management regarding business operations and strategy.