Neo announces that Constantine Karayannopoulos will retire from Neo in July 2023 and will be succeeded by Neo President and Interim Chief Financial Officer Rahim Suleman.
Neo Performance Materials and Hudson Resources advance the Greenland Sarfartoq rare earth project after receiving government approval for license transfer.
Neo has acquired a controlling interest in SG Technologies Group Limited, one of Europe’s leading advanced, specialty manufacturers of rare-earth-based and other high-performance magnets for industrial and commercial markets.
Neo Performance Materials announces that effective January 1, 2023, Rahim Suleman, the Company’s current Chief Financial Officer, will assume the role of President.
Neo has been awarded a grant of up to 18.7 million Euros from the Government of Estonia under Europe’s Just Transition Fund to help pay for the cost of constructing a state-of-the-art sintered rare earth permanent magnet manufacturing facility in Estonia.
Neo (TSX: NEO) announced today the resignation of Zhe Zhao from the board of directors of the Company, effective immediately. Ms. Zhao was serving on the Board as a nominee of Oaktree Capital Management L.P. and had agreed to tender her resignation following the closing of the sale of substantially all of Oaktree’s interest in Neo. Yadin Rozov, who was also serving as a nominee of Oaktree, has agreed, at the request of the Board, to continue to serve as a member of the Board and the Board has determined Mr. Rozov to be independent.
Neo Performance Materials Inc. announced today that the Board of Directors of the Company has approved the adoption of a shareholder rights plan pursuant to a shareholder rights plan agreement.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. TORONTO, Canada, September 16, 2022 – Neo Performance Materials Inc.
Neo has entered into an agreement with Paradigm Capital Inc., on behalf of a syndicate of underwriters, pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 4,500,000 common shares at an offering price of $15.00 per Common Share for gross proceeds of approximately $67.5 million.
Neo has entered into a loan agreement with Export Development Canada for a term loan of up to US$75 million to finance the relocation, expansion, and sustainability upgrades to one of its environmental emissions catalyst manufacturing facilities.
