On July 25, Zhongke Electric (300035) announced that its holding subsidiary Hunan Zhongke Xingcheng Graphite Co., Ltd. (hereinafter referred to as “Zhongke Star City†or “Subsidiaryâ€) and NMG Company of Canada on July 25, 2017 (NOUVEAU-MONDEGRAPHITEINC., hereinafter referred to as "NMG") has successfully signed the "Letter of Intent" by e-mail on the development of the growing North American lithium-ion battery anode material market. At this point, the letter of intent came into effect.
NMG is a mining exploration, resource assessment and development company established in Canada under the Canadian Business Companies Act for commercial activities in Canada. The company is listed on the Toronto Stock Exchange TSXVenture (stock code: NOU), Quebec's OTCQB (stock code: NMGRF) and Frankfurt Stock Exchange (stock code: NM9). The company is currently focusing on the development of the Matawinie graphite project with the goal of becoming the largest natural graphite mine in North America.
Zhongke Electric said that in view of the research and development and production of anode materials for lithium-ion batteries, NMG is a Canadian mining company with Matawinie graphite minerals in Quebec and a good relationship with major lithium-ion battery manufacturers in North America. . The two parties held preliminary discussions and reached a cooperation intention on the cooperation in the development of the growing market of lithium ion battery anode materials in North America.
The announcement indicates that both parties intend to establish a marketing company (hereinafter referred to as the “Marketing Companyâ€) in Montreal, Canada or other appropriate legal jurisdiction, as a lithium-ion battery manufacturer in Canada, the United States and Mexico (hereinafter collectively referred to as the “North American Marketâ€). Sales of the main body of the negative electrode material of the lithium-ion battery in the Kexing City. Both parties agreed that Zhongke Star City (or a subsidiary established through its own) would subscribe 51% of the common stock of the marketing company for C$255,000, and NMG would subscribe for 49% of the common stock of the marketing company for C$245,000. Decide.
Regarding the marketing company and its operations, the two parties strive to reach agreements before September 1, 2017 and no later than October 1, 2017. The agreement includes but is not limited to the marketing company shareholder agreement and the company’s and the marketing company. Marketing agreement.
In the first 18 (18) months after the establishment of the marketing company, the company will successfully develop the market and obtain marketing results that satisfy both parties. The two parties will evaluate the production of the complete negative electrode material product line in Zhongke Xingcheng, Quebec, Canada (“Negative Project†") The feasibility of optimizing the operating cost structure for shipments to customers in the North American market. Both parties to the partnership shall use limited partnerships or other appropriate legal frameworks agreed by both parties to optimize the taxation, business value and business opportunities for the mutual benefit of both parties. NMG and Zhongke Star City (or through their subsidiaries) intend to hold 51% and 49% of the joint venture project respectively.
Zhongke Electric believes that the company's holding subsidiary, Zhongke Xingcheng and NMG signed the "Cooperation Letter of Intent". If it is fulfilled, NMG can use the good relationship with the major lithium-ion battery manufacturers in North America to promote the negative electrode materials of the lithium-ion battery of Zhongke Xingcheng. Sales in the North American market, participating in the development of the growing North American lithium-ion battery anode material market.
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