NextSource Materials Raises CAD$14.7 Million in Successful Private Placement Deal

NextSource Materials Closes Private Placement for Gross Proceeds of CAD$14.7 Million

NextSource Materials Inc. recently announced the successful closing of a private placement of units for total gross proceeds of CAD$14.7 million. This significant achievement marks a crucial milestone for the company as it continues to advance its Molo Graphite Project in Madagascar.

The private placement consisted of the issuance of a total of 98,000,000 units at a price of CAD$0.15 per unit. Each unit included one common share of the company and one-half of one common share purchase warrant. The warrants are exercisable to acquire an additional common share at a price of CAD$0.25 per share for a period of 36 months following the closing date.

This successful private placement demonstrates strong investor confidence in NextSource Materials and its Molo Graphite Project. The proceeds from the placement will be used to fund the development and advancement of the Molo Graphite Project, further solidifying the company’s position as a leading graphite producer.

NextSource Materials is focused on becoming a fully integrated, global graphite producer that is environmentally and socially responsible. The Molo Graphite Project is located in southern Madagascar and is set to be one of the world’s largest graphite mines once in production. The project boasts high-quality large-flake graphite reserves and is strategically positioned to meet the growing demand for graphite in various industries such as electric vehicles, energy storage, and the rapidly expanding green technology sector.

The successful closing of the private placement not only provides NextSource Materials with the necessary funding to advance the Molo Graphite Project but also underscores the company’s commitment to sustainable and responsible operations. By securing the financial support needed for the project’s development, NextSource Materials is well-positioned to accelerate the construction and production timeline of the Molo Graphite Project, ultimately bringing it to market faster and efficiently meeting the increasing demand for high-quality graphite.

In conclusion, the recent closing of the private placement for gross proceeds of CAD$14.7 million is a significant milestone for NextSource Materials Inc. and its Molo Graphite Project. With strong investor support and a clear strategic vision, the company is poised to emerge as a key player in the global graphite market. As NextSource Materials continues to drive forward with the development of the Molo Graphite Project, it is well on its way to becoming a leading supplier of high-quality graphite to meet the demands of evolving industries worldwide.