Neo Magnequench, a division of Neo Performance Materials Inc. (“Neo” or the “Company”) (TSX: NEO), is pleased to announce the launch of its new first rare earth magnet manufacturing facility in Europe. Based in Narva, Estonia, the plant expects to support the development of about 1.5 million electric cars by 2025. Additional applications include wind turbine manufacturing and other clean transportation, and energy solutions.
Neo Performance Materials Inc. released its third quarter 2022 financial results.
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.
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 reports that the nominees listed in the management information circular dated May 16, 2022, for the 2022 Annual Meeting of Shareholders were elected as directors of the Company
Neo is pleased to announce that its high-purity heavy rare earth separations facility in Jiangyin (JAMR), China has reopened for full operations after being shut down for 12 days following a government-mandated and city-wide lockdown order.
Neo reported strong year-over-year gains in revenue, volumes, operating income, Adjusted EBITDA, and profitability in the year ended December 31, 2021.
Neos management will host a teleconference call on Wednesday, December 1, 2021, at 11:00 a.m. (Eastern Time) to discuss the third quarter 2021 results and provide a business update.
Neo announced that the Toronto Stock Exchange has accepted a notice filed by Neo of its intention to make a Normal Course Issuer Bid for up to 2,111,758 of its issued and outstanding common shares.