NextSource Materials Closes Final Tranche of Private Placement for Additional Gross Proceeds of CAD$720,800
NextSource Materials has completed the second and final tranche of its non-brokered private placement, raising additional CAD$720,800 through the issuance of 1,360,000 common shares at CAD$0.53 per share. The proceeds will primarily fund the company's strategy for Battery Anode Facilities (BAF) rollout to produce EV battery anode material, Molo Mine Phase 2 expansion, working capital, and administrative expenses. The offering included finder fees of CAD$36,040. The shares are subject to a four-month hold period and conditional TSX approval.
NextSource Materials ha completato la seconda e ultima tranche del suo collocamento privato non intermediato, raccogliendo ulteriori CAD$720,800 tramite l'emissione di 1.360.000 azioni ordinarie a CAD$0,53 per azione. I proventi finanzieranno principalmente la strategia dell'azienda per l'implementazione delle Strutture per Anodi di Batterie (BAF) per produrre materiale per anodi di batterie EV, l'espansione della Fase 2 della Miniera di Molo, il capitale circolante e le spese amministrative. L'offerta ha incluso commissioni di intermediazione di CAD$36,040. Le azioni sono soggette a un periodo di blocco di quattro mesi e all'approvazione condizionata della TSX.
NextSource Materials ha completado la segunda y última tranche de su colocación privada no intermediada, recaudando CAD$720,800 adicionales a través de la emisión de 1,360,000 acciones comunes a CAD$0.53 por acción. Los ingresos financiarán principalmente la estrategia de la empresa para la implementación de las Instalaciones de Anodos de Baterías (BAF) para producir material de anodo para baterías EV, la expansión de la Fase 2 de la Mina Molo, capital de trabajo y gastos administrativos. La oferta incluyó honorarios de intermediación de CAD$36,040. Las acciones están sujetas a un periodo de retención de cuatro meses y a la aprobación condicional de la TSX.
NextSource Materials는 비중개 사모 배치의 두 번째이자 마지막 분할 거래를 완료하였으며, CAD$720,800를 추가로 모금하고 CAD$0.53에 1,360,000주의 보통주를 발행했습니다. 자금은 주로 EV 배터리 양극 재료를 생산하기 위한 배터리 양극 시설(BAF) 배치 전략, Molo Mine Phase 2 확장, 운영 자본 및 관리 비용을 충당하는 데 사용됩니다. 이번 공모에는 CAD$36,040의 중개 수수료가 포함되었습니다. 주식은 4개월의 보유 기간과 조건부 TSX 승인을 받습니다.
NextSource Materials a complété la deuxième et dernière tranche de son placement privé sans courtier, levant CAD$720,800 supplémentaires grâce à l'émission de 1.360.000 actions ordinaires au prix de CAD$0,53 par action. Les produits financeront principalement la stratégie de l'entreprise pour le déploiement des installations d'anodes de batteries (BAF) afin de produire du matériau d'anodes de batteries EV, l'expansion de la Phase 2 de la mine de Molo, le fonds de roulement et les frais administratifs. L'offre comprenait des frais de recherche de CAD$36,040. Les actions sont soumises à une période de blocage de quatre mois et à l'approbation conditionnelle de la TSX.
NextSource Materials hat die zweite und letzte Tranche seiner nicht vermittelten Privatplatzierung abgeschlossen und zusätzlich CAD$720,800 durch die Ausgabe von 1.360.000 Stammaktien zu einem Preis von CAD$0,53 pro Aktie gesammelt. Die Erlöse werden hauptsächlich die Strategie des Unternehmens zur Umsetzung von Battereanodenanlagen (BAF) zur Produktion von Anodenmaterial für EV-Batterien, die Erweiterung der Phase 2 des Molo-Bergwerks, Betriebs- und Verwaltungskosten finanzieren. Das Angebot umfasste Vermittlungsgebühren von CAD$36,040. Die Aktien unterliegen einer viermonatigen Haltedauer und der bedingten Genehmigung durch die TSX.
- Secured additional CAD$720,800 in funding through private placement
- Proceeds will support strategic BAF rollout for EV battery production
- Funds allocated for Molo Mine Phase 2 expansion
- Share dilution through issuance of 1,360,000 new common shares
- Additional expenses of CAD$36,040 in finder fees
Not for distribution to U.S. news wire services or for dissemination in the United States or to a U.S. Person.
TORONTO, ON / ACCESSWIRE / November 13, 2024 / NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") announces it has closed a second and final tranche of its previously announced non-brokered private placement offering, issuing an additional 1,360,000 common shares of the Company ("Shares") at a price of CAD
These additional net proceeds of the Offering are intended to be used primarily to progress the Company's strategy of a staged rollout of Battery Anode Facilities (BAF) to produce active anode material for EV batteries. Certain proceeds will also be used at the Molo Mine in connection with Phase 2 expansion, working capital requirements as well as general and administrative expenses.
Finder fees of CAD
The Shares will be subject to a hold period in Canada expiring four months and one day from the date hereof.
The Company has obtained conditional approval from the Toronto Stock Exchange (the "TSX") for the listing of all Shares issued pursuant to the Offering. The Offering is subject to receipt of final approval from the TSX.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release does not constitute an offer of Shares for sale in the United States. The Shares offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such Shares may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.
About NextSource Materials Inc.
NextSource Materials Inc. is a battery materials development company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.
The Company's Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production, with Phase 1 mine operations currently being optimized to reach its nameplate production capacity.
The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, outside of existing Asian supply chains, in a fully transparent and traceable manner.
NextSource Materials is listed on the Toronto Stock Exchange under the symbol "NEXT" and on the OTCQB under the symbol "NSRCF".
Investors: Brent Nykoliation Executive Vice President +1.416.364.4911 brent@nextsourcematerials.com
Media: Michael Oke/Andy Mills +44 207 321 0000 nextsource@aura-financial.com
CAUTIONARY NOTE
This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements and information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements include any statements regarding, among others, the terms and conditions of the Offering, including final approval of the TSX in respect thereof; timing of on-site construction including the processing plant, process improvements and mine plant adjustments as well as production estimates and timing thereof, the rollout of Battery Anode Facilities including the capabilities and the timing thereof. These statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
SOURCE: NextSource Materials Inc.
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