Panasonic Energy and GM (together, the "Anchor Customers") concurrently commit to multiyear offtake agreements for NMG's active anode material, covering approximately 85% of NMG's planned Phase-2 fully integrated production, from ore to battery materials. Strategic partner Mitsui and long-time investor Pallinghurst inject a total of $37.5 million into NMG's development, the aggregate proceeds of which will be used to repurchase their previously announced convertible notes.