NextSource Materials closes $24.99-million financing

Executive Summary

• NextSource Materials Inc. has closed its previously announced brokered private placement, raising aggregate gross proceeds of $24,999,987.
• The company issued 58,823,500 units at a price of 42.5 cents per unit, with the offering being oversubscribed due to strong investor demand.
• Net proceeds are designated to advance the UAE battery anode facility, update the Molo technical report, and for general corporate purposes.

Key Details

• Gross Proceeds: $24,999,987.
• Units Issued: 58,823,500 units.
• Price Per Unit: 42.5 cents.
• Warrant Terms: Each unit includes one common share and one-half of one common share purchase warrant. Each warrant allows the purchase of one common share at an exercise price of 55 cents. Warrants are exercisable beginning 61 days after closing and expire 36 months after closing.
• Use of Proceeds: Advancement of the United Arab Emirates (UAE) battery anode facility, updating the Molo technical report, and general corporate purposes.
• Investor Participation: Vision Blue Resources Ltd. purchased 27,944,464 units to maintain its pro rata ownership. This constitutes a related party transaction exempt from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101.
• Agents: Stifel Canada (lead agent and sole bookrunner) and Maxim Group LLC (co-agent).
• Regulatory Status: Conducted under the Listed Issuer Financing Exemption (LIFE). Units are not subject to a hold period. Subject to final approval of the Toronto Stock Exchange.

Notable Quotes

• None provided in the text.