NextSource Materials Secures CAD$14.7 Million Through Private Placement

Toronto-based NextSource Materials Inc. has successfully concluded a non-brokered private placement, raising CAD$14.7 million. The offering involved 27,728,100 common shares at CAD$0.53 each. Vision Blue Resources Limited contributed significantly, purchasing over 15.5 million shares, with the rest acquired by other investors.

The funds will primarily support the development of Battery Anode Facilities for electric vehicle batteries, with additional financing directed towards the Molo Mine's Phase 2 expansion and general expenses. A hold period of four months applies to the shares, pending final approval from the Toronto Stock Exchange.

Vision Blue's participation increased their ownership to approximately 48% of NextSource's shares. They intend to review their investment strategy continually. This transaction is classified as a related party transaction but qualifies for exemptions from certain regulatory requirements.