$NMG

Nouveau Monde Graphite Inc.

CIK:0001649752|SEC Filings

CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
EXPENSES
Mining projects expenses	$ 7,950	$ 25,054
Battery Material Plant project expenses	25,067	37,111
General and administrative expenses	26,669	24,117
Operating loss	59,686	86,282
Net financial costs (income)	45,091	(13,397)
Loss before tax	104,777	72,885
Income tax	400	400
Net loss and comprehensive loss	$ 105,177	$ 73,285
Net loss per share
Loss per share, Basic	$ 0.68	$ 0.71
Loss per share, Diluted	$ 0.68	$ 0.71
Weighted average number of shares outstanding - Basic	154,028,152	103,131,374
Weighted average number of shares outstanding - Diluted	154,028,152	103,131,374

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CAD ($)	Dec. 31, 2024 CAD ($)
OPERATING ACTIVITIES
Net loss	$ (105,177)	$ (73,285)
Adjustments for non-cash items:
Depreciation and amortization	7,343	9,093
Change in fair value - Listed shares	(125)	750
Change in fair value - Derivative warrant liability	64,723	(24,900)
Gain on Derivative warrant liability settlement	(16,151)
Change in fair value - Embedded derivative and deferred amount amortization	(286)
Interest and accretion - Convertible notes	1,353	4,041
Loss on convertible notes settlement		7,548
Lac Guret Property acquisition		18,625
Unrealized foreign exchange loss (gain)	(1,540)	2,598
Loss on write-off/disposal of property, plant and equipment	145	1,134
Share-based compensation	4,290	3,930
Other accretions included within financial costs	96	18
Net change in working capital	3,158	(1,505)
Cash flows used in operating activities	(42,171)	(51,953)
INVESTING ACTIVITIES
Additions to property, plant, and equipment, net of grants	(13,678)	(14,055)
Cash flows used in investing activities	(13,678)	(14,055)
FINANCING ACTIVITIES
Proceeds from private placements		139,065
Proceeds from offering	27,563
Repayment of borrowings	(250)	(744)
Repayment of lease liabilities	(627)	(457)
Proceeds from the exercise of stock options	119	323
Share issue costs	(2,798)	(2,724)
Cash flows from financing activities	24,007	135,463
Effect of exchange rate changes on cash	(514)	509
Net change in cash and cash equivalents	(32,356)	69,964
Cash and cash equivalents at the beginning of the period	106,296	36,332
Cash and cash equivalents at the end of the period	$ 73,940	$ 106,296

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - CAD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
CURRENT
Cash and cash equivalents	$ 73,940	$ 106,296
Grants receivable and other current assets	518	1,010
Restricted cash and deposits	620	3,000
Sales taxes receivable	928	1,656
Tax credits receivable	1,860	515
Prepaid expenses	1,586	1,529
Total current assets	79,452	114,006
NON-CURRENT
Tax credits receivable	7,514	10,247
Investment - Listed shares	450	325
Property, plant and equipment	85,426	77,666
Right-of-use assets	1,552	1,505
Deposits	50	351
Total non-current assets	94,992	90,094
Total assets	174,444	204,100
CURRENT
Accounts payable and other	10,482	13,642
Deferred grants	185	785
Convertible notes	16,948	16,240
Derivative warrant liability	62,957	15,589
Current portion of lease liabilities	569	470
Current portion of borrowings	265	250
Total current liabilities	91,406	46,976
NON-CURRENT
Asset retirement obligation	1,584	1,463
Lease liabilities	1,107	1,240
Borrowings	499	764
Total non-current liabilities	3,190	3,467
Total liabilities	94,596	50,443
EQUITY
Share capital	436,475	411,240
Other reserves	5,357	3,680
Contributed surplus and warrants	37,065	32,609
Deficit	(399,049)	(293,872)
Total equity	79,848	153,657
Total liabilities and equity	$ 174,444	$ 204,100