NextSource Materials Closes Private Placement for Gross Proceeds of CAD$14.7 Million
NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) has closed a non-brokered private placement offering of 27,728,100 common shares at CAD$0.53 per share, raising gross proceeds of CAD$14,695,893. Vision Blue Resources purchased 15,582,300 shares for CAD$8,258,619, with other significant shareholders participating. The funds will primarily support the company's strategy for a staged rollout of Battery Anode Facilities (BAF) to produce active anode material for EV batteries. Some proceeds will also be used for the Molo Mine Phase 2 expansion, working capital, and general expenses. The shares are subject to a four-month hold period, and the offering is pending final TSX approval. Vision Blue's participation increased its ownership to 48.0% of outstanding common shares.
NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ha completato un'offerta di collocamento privato non intermediato di 27.728.100 azioni ordinarie a un prezzo di CAD$0,53 per azione, raccogliendo proventi lordi di CAD$14.695.893. Vision Blue Resources ha acquistato 15.582.300 azioni per CAD$8.258.619, con la partecipazione di altri importanti azionisti. I fondi supporteranno principalmente la strategia dell'azienda per un'introduzione graduale delle Strutture per Anodi delle Batterie (BAF) per produrre materiale attivo per gli anodi delle batterie EV. Alcuni proventi saranno utilizzati anche per l'espansione della Fase 2 della Miniera Molo, il capitale circolante e le spese generali. Le azioni sono soggette a un periodo di attesa di quattro mesi, e l'offerta è in attesa dell'approvazione finale del TSX. La partecipazione di Vision Blue ha aumentato la sua proprietà al 48,0% delle azioni ordinarie in circolazione.
NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ha cerrado una oferta de colocación privada no intermediada de 27.728.100 acciones ordinarias a CAD$0,53 por acción, levantando ingresos brutos de CAD$14.695.893. Vision Blue Resources compró 15.582.300 acciones por CAD$8.258.619, con la participación de otros accionistas significativos. Los fondos apoyarán principalmente la estrategia de la empresa para una implementación gradual de las Instalaciones de Ánodo de Baterías (BAF) para producir material activo para los anodos de baterías de vehículos eléctricos. Algunos ingresos también se utilizarán para la expansión de la Fase 2 de la Mina Molo, capital de trabajo y gastos generales. Las acciones están sujetas a un período de retención de cuatro meses, y la oferta está pendiente de la aprobación final de TSX. La participación de Vision Blue incrementó su propiedad al 48,0% de las acciones ordinarias en circulación.
NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF)는 CAD$0.53의 가격으로 27,728,100주를 비중개 방식으로 사모 방식으로 발행하여 CAD$14,695,893의 총 수익을 올렸습니다. Vision Blue Resources는 15,582,300주를 CAD$8,258,619에 구매했으며, 다른 주요 주주들도 참여했습니다. 이 자금은 전기차 배터리를 위한 활성 음극 재료를 생산하는 배터리 음극 시설(BAF)의 단계적 운영 전략을 주로 지원합니다. 일부 수익은 몰로 광산 2단계 확장, 운영 자본 및 일반 비용에도 사용될 예정입니다. 주식은 4개월의 보유 기간이 있으며, 제공은 최종 TSX 승인을 기다리고 있습니다. Vision Blue의 참여로 보통주 지분이 48.0%로 증가했습니다.
NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) a clôturé une émission privée sans courtier de 27.728.100 actions ordinaires au prix de CAD$0,53 par action, levant des produits bruts de CAD$14.695.893. Vision Blue Resources a acheté 15.582.300 actions pour CAD$8.258.619, avec la participation d'autres actionnaires significatifs. Les fonds serviront principalement à soutenir la stratégie de l'entreprise pour un déploiement progressif des Installations d'Anode de Batterie (BAF) afin de produire du matériel d'anode actif pour les batteries de véhicules électriques. Certains produits seront également utilisés pour l'expansion de la Phase 2 de la Mine Molo, le fonds de roulement et les dépenses générales. Les actions sont soumises à une période de blocage de quatre mois, et l'offre est en attente de l'approbation finale du TSX. La participation de Vision Blue a porté sa part à 48,0% des actions ordinaires en circulation.
NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) hat eine nicht vermittelte Privatplatzierung von 27.728.100 Stammaktien zu einem Preis von CAD$0,53 pro Aktie abgeschlossen und damit brutto Einnahmen von CAD$14.695.893 erzielt. Vision Blue Resources kaufte 15.582.300 Aktien für CAD$8.258.619, und auch andere bedeutende Aktionäre haben teilgenommen. Die Mittel werden hauptsächlich die Strategie des Unternehmens zur schrittweisen Einführung von Batterie-Anodenanlagen (BAF) unterstützen, um aktives Anodenmaterial für Elektrofahrzeugbatterien zu produzieren. Ein Teil der Einnahmen wird auch für die Erweiterung der Phase 2 der Molo Mine, Betriebskapital und allgemeine Ausgaben verwendet. Die Aktien unterliegen einer Haltefrist von vier Monaten, und das Angebot steht noch zur endgültigen Genehmigung durch die TSX aus. Der Anteil von Vision Blue erhöhte sich auf 48,0% der ausstehenden Stammaktien.
- Raised CAD$14.7 million in gross proceeds through private placement
- Funds to be used for strategic Battery Anode Facilities rollout
- Additional funding for Molo Mine Phase 2 expansion
- Increased investment from major shareholder Vision Blue Resources
- Potential shareholder dilution due to issuance of new shares
- Increased control by Vision Blue Resources (48% ownership)
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 / October 11, 2024 / NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") announces it has closed a non-brokered private placement offering of 27,728,100 common shares of the Company ("Shares") at a price of CAD
Vision Blue Resources Limited. ("Vision Blue") purchased 15,582,300 Shares under the Offering for a total subscription price of CAD
The 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 were paid in relation to the Offering, consisting 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.
Related Party Disclosure
The participation of Vision Blue in the Offering constitutes a "related party transaction" pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has determined that the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 by virtue of the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of securities issued to Vision Blue, nor the consideration paid by Vision Blue exceeded 25 percent of the Company's market capitalization. The Company did not file a material change report in respect of the transaction 21 days in advance of closing of the Offering because Vision Blue's participation had not been confirmed. The shorter period was necessary in order to permit the Company to close the Offering in a timeframe consistent with usual market practice for transactions of this nature.
Early Warning Disclosure
Prior to the Offering, Vision Blue held an aggregate of 72,580,072 common shares of the Company ("Common Shares"), representing approximately
After giving effect to the closing of the Offering, Vision Blue owns and exercises control or direction over 88,162,372 Common Shares, zero Options and zero RSUs, representing approximately
Vision Blue is acquiring the Common Shares for investment purposes and intends to review its investment in NextSource on a continuing basis. Vision Blue may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction, over securities of NextSource through market transactions, private agreements, treasury issuances or otherwise. Vision Blue's registered address is 1 Royal Plaza, Royal Avenue, St Peter Port, GY1 2HL, Guernsey.
For more information, or to obtain a copy of the subject early warning report, please contact: Aura Financial info@vision-blue.com
+44 207 321 0000
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 of 17,000 tpa of graphite concentrate.
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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