Nouveau Monde Graphite (NMG) secured $335 million in financing from Export Development Canada and the Canada Infrastructure Bank to support the development and commissioning of the Phase-2 Matawinie Mine in Quebec.

The financing includes a $290 million senior secured term loan facility and a $45 million senior secured cost overrun debt facility, the company said Tuesday in a statement.

The financing is subject to completion of the definitive documentation and final legal, insurance and regulatory due diligence, the company said.

The Matawinie project is part of Canada's broader effort to develop domestic supplies of critical minerals, including graphite.

Nouveau Monde Graphite shares rose 4.9% in Tuesday trading.

Price: 2.31, Change: +0.11, Percent Change: +4.91