NextSource Materials Inc 6-K, filed Mar 4, 2021
NextSource Materials Inc. (NSRCF)
6-K
2021-03-04
For: 2020-07-02
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Added on
April 12, 2026
About this 6-K
NextSource Materials Inc filed this 6-K on March 4, 2021.
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 or 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the
month of July,
2020
Commission
File Number 000-51151
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NEXTSOURCE MATERIALS INC.
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(Translation
of registrant’s name into English)
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1940-130 King Street West
Toronto, Ontario, Canada
M5X 2A2
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(Address
of principal executive office)
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Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F
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Form
20-F
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☒
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Form
40-F
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☐
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Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule
101(b)(1):
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Yes
|
☐
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No
|
☒
|
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule
101(b)(7):
|
Yes
|
☐
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No
|
☒
|
Exhibits
Press release dated
July 2, 2020 announcing completion of $2 million private
placement.
Press release dated
July 20, 2020 announcing Brett Whalen has joined the board of
directors.
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
Dated:
March 4, 2021
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NEXTSOURCE MATERIALS INC.
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/s/
Marc Johnson
Marc
Johnson
Chief
Financial Officer
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Exhibit 99.1
NextSource Materials Completes $2 million Private
Placement
NEWS RELEASE – TORONTO, July 2, 2020
NextSource
Materials Inc.’s (TSX:NEXT) (OTCQB:NSRCF)
(“NextSource” or the “Company”) announces
that it has completed a non-brokered private placement offering
(the “Offering”) of 61,578,783 units (the
“Units”) at a price of CAD$0.0325 per Unit for gross
proceeds of CAD$2,001,310.
The
Offering received substantial support from existing shareholders of
the Company.
Each
Unit consists of one common share of the Company and one-half of
one common share purchase warrant (a “Warrant”), with
each full Warrant entitling the holder to acquire one additional
common share of the Company at a price of CAD$0.065 per share for a
period of 24 months. No finder fees or commissions were paid in
association with the Offering.
The net
proceeds of the Offering will be used to fund the Company’s
ongoing initiatives with mine financiers for the funding of Phase 1
production and, at the request of several interested potential
partners, to commence a study that would determine both the capital
and operating costs for a value-add, battery anode plant to further
upgrade the Company’s SuperFlake® graphite concentrate
to a spheronized and purified graphite (SPG) for anode material in
lithium-ion batteries for electric vehicle and hybrid vehicle
applications.
In
March 2020, the Company announced it executed a LOI with its
Japanese offtake partner and a leading Chinese processor of
graphite anode material to collaborate on the construction of a
value- add, battery anode plant. At the request of the parties
involved in the LOI as well as other major battery anode suppliers,
this study will allow management to further discussions with
interested parties. Funds will also be used for general and
administrative expenses.
All
securities issued in connection with the Offering will be subject
to a four-month hold period as required by Canadian securities
laws. The Company has obtained conditional approval from the
Toronto Stock Exchange (the “TSX”) for the listing of
all common shares issued pursuant to the Offering. The Offering is
subject to receipt of final approval of the TSX.
About
NextSource Materials Inc.
NextSource
Materials Inc. is a mine development company based in Toronto,
Canada, that is developing its 100%-owned Molo Graphite Project in
southern Madagascar. The Molo Graphite Project is a fully
permitted, feasibility-stage project that ranks as one of the
largest-known and highest quality flake graphite deposits in the
world and is the only project with SuperFlake®
graphite.
The
Company will be utilizing an all-modular build approach to
constructing the Molo mine and in two production phases. Phase 1
will produce 17,000 tonnes per annum (“tpa”) over the
first two years of production and Phase 2 producing a total of
45,000 tpa by year three. Offtakes are in place for 100% of Phase 1
production.
For
further information contact: Brent Nykoliation, Senior Vice
President, Corporate Development at brent@nextsourcematerials.com or
Craig Scherba, President and CEO
at
craig@nextsourcematerials.com.
+1.416.364.4911
Safe Harbour: This press release contains statements that may
constitute “forward-looking statements” within the
meaning of applicable Canadian and United States securities
legislation. Readers are cautioned not to place undue reliance on
such forward-looking statements. Forward-looking statements in this
release relate to the results of the 2019 Feasibility Study,
funding of the development of the Molo Project, implementation and
commencement of the build-out of the Molo Project, commencement of
production at the Molo Project, commencement of procurement for
mine infrastructure, the procurement of equipment to construct a
mine, value engineering, any and all product test results, the
Letter of Intent with a Japanese Offtake Partner and Prominent
Chinese Graphite Anode OEM Supplier to Collaborate on Battery Anode
Plant, and product analysis, and the permit application. These 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 as a result of new information, future events or otherwise,
except as may be required by applicable securities
laws.
Exhibit 99.2
Former
Vice President & Portfolio Manager of Goodman & Company
Joins Board of NextSource Materials
NEWS RELEASE – TORONTO, July 20, 2020
NextSource
Materials Inc.’s (TSX:NEXT) (OTCQB:NSRCF)
(“NextSource” or the “Company”) Molo
Graphite Project in Madagascar is in the final stages of
development and ranks as one of the largest-known and highest
quality flake graphite deposits in the world.
As part
of NextSource’s ongoing strategy to continually strengthen
and enhance the Company’s operating capabilities and capital
markets exposure, the Company is pleased to announce that Mr. Brett
Whalen, CFA, has joined the Board effective
immediately.
Mr.
Whalen has over 20 years of investment banking and M&A
expertise, spending over 16 of those years at Dundee Corporation
(“Dundee Corp.”). During his tenure at Dundee Corp.,
Mr. Whalen was directly involved in completing approximately $2
billion in M&A deals and helped raise over
$10
billion dollars in capital for resource sector
companies.
While a
Vice President and Portfolio Manager of Goodman and Company (a
division of Dundee Corp.), Mr. Whalen oversaw an investment of $6.0
million into NextSource enabling the Company to achieve key
technical milestones, notably the completion of its July 2017 Phase
One Feasibility Study and the concept and design of the full
modular build approach NextSource will be utilizing for
construction of both Phase One and Phase Two of the Molo mine. Mr.
Whalen has held Board seats of several TSX-listed and privately
held companies and holds a BA (Honours) degree in Economics and
Finance from Wilfrid Laurier University.
Extensive
Knowledge in the Graphite and Battery Materials
Sectors
Mr.
Whalen has extensive knowledge of graphite and vanadium and the
battery materials industry in general, where it is widely
recognized by industry analysts that the aggressive growth
forecasts for graphite in high-quality steel applications and
especially for use in batteries for electric vehicles and renewable
energy storage systems, will require significant supply of
high-quality graphite for these applications. As the world’s
consumption of graphite as a strategic battery (anode) material is
forecast to go much higher, there is going to be significant strain
on non-Chinese sourced supply of flake graphite as a feedstock for
battery anodes required in electric vehicles and renewable energy
storage systems.
Mr.
Whalen commented, “Batteries, and their role in the mass
adoption of electrified vehicles, will permeate our lives and I am
excited to be involved during this important time in the
Company’s development by assisting in sourcing the necessary
capital to build the Company’s Molo mine and accelerate
strategic plans for involvement in downstream value-added products
such as graphite foils and battery anode material. A lot of
attention will be focused on the anode over the coming years,
especially the increasing role that natural graphite will play,
causing investors to take a serious look at which deposits will
need to come onstream to fill anticipated supply deficits. After
more than 5 years researching the graphite industry, I have chosen
to join the Board of NextSource due to the quality of their deposit
and the global offtake partners they have signed and will be
signing in the future. In addition, with the Company’s recent
announcement of executing a Letter of Intent to collaborate on a
battery anode facility with its Japanese Offtake Partner and a
prominent Chinese graphite anode OEM supplier, the opportunity
ahead for NextSource as a vertically
integrated supplier
will be very attractive to the world’s largest auto
manufacturers, who are looking for a complete anode
solution.”
Dean
Comand, Chair of the Board commented, “Brett will add a
special dimension to moving NextSource forward as his proven skills
are well understood and acknowledged in the capital markets arena.
The Company is very fortunate to have had Brett’s counsel and
support in the past while he was a portfolio manager at our largest
institutional investor and we are delighted he has chosen to be
involved in the next critical steps of NextSource as we accelerate
development of our Molo mine and consider entry into the downstream
value-added graphite products space.”
About
NextSource Materials Inc.
NextSource
Materials Inc. is a mine development company based in Toronto,
Canada, that is developing its 100%-owned Molo Graphite Project in
southern Madagascar. The Molo Graphite Project is a fully
permitted, feasibility-stage project that ranks as one of the
largest-known and highest quality flake graphite deposits in the
world and is the only project with SuperFlake®
graphite.
The
Company will be utilizing an all-modular build approach to
constructing the Molo mine and in two production phases. Phase 1
will produce 17,000 tonnes per annum (“tpa”) over the
first two years of production and Phase 2 producing a total of
45,000 tpa by year three. Offtakes are in place for 100% of Phase 1
production.
For
further information contact: +1.416.364.4911
Brent
Nykoliation, Senior Vice President, Corporate Development at
brent@nextsourcematerials.com or Craig Scherba, President and CEO
at craig@nextsourcematerials.com
Safe Harbour: This press release contains statements that may
constitute “forward-looking statements” within the
meaning of applicable Canadian and United States securities
legislation. Readers are cautioned not to place undue reliance on
such forward-looking statements. Forward-looking statements in this
release relate to the results of the 2019 Feasibility Study,
funding of the development of the Molo Project, implementation and
commencement of the build-out of the Molo Project, commencement of
production at the Molo Project, commencement of procurement for
mine infrastructure, the procurement of equipment to construct a
mine, value engineering, any and all product test results, the
Letter of Intent with a Japanese Offtake Partner and Prominent
Chinese Graphite Anode OEM Supplier to Collaborate on Battery Anode
Plant, and product analysis, and the permit application. These 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 as a result of new information, future events or otherwise,
except as may be required by applicable securities
laws.