NextSource Materials Secures $20M Credit Facility with Vision Blue

NextSource Materials Inc. announced the acquisition of a $20 million drawdown credit facility with Vision Blue Resources Limited. The proceeds will support the company's Battery Anode Facility strategy, Molo's growth, and general working capital. The facility is non-dilutive to shareholders.

CEO Hanré Rossouw stated that the funding aids Molo Graphite Mine's advancement and the development of Battery Anode Facilities. The commencement of graphite concentrate sales and management strengthening mark significant progress. The facility is non-convertible to equity and is repayable after June 30, 2025, with a 15% annual interest rate.

Vision Blue holds a significant stake in NextSource, categorizing the facility as a "related party transaction." The board approved without input from Vision Blue Director Sir Mick Davis. No minority shareholder approval is needed due to favorable commercial terms.