NextSource Materials Completes Final Tranche of Private Placement

NextSource Materials Inc. has announced the completion of its final tranche of a private placement, securing additional gross proceeds of CAD$720,800. This involved the issuance of 1,360,000 common shares priced at CAD$0.53 each. The company intends to utilize the funds primarily for advancing its Battery Anode Facilities to produce materials for EV batteries. Some proceeds will support the Phase 2 expansion at the Molo Mine and cover general expenses.

Finder fees amounting to CAD$36,040 were associated with the Offering. The newly issued shares are subject to a Canadian hold period of four months and one day. Conditional approval has been obtained from the Toronto Stock Exchange, pending final approval.