NextSource Materials extends Mitsubishi Chemical offtake agreement timelines

NextSource Materials (NSRCF) (NSRCF0 has agreed with Mitsubishi Chemical Corporation (MTLHF) to extend the timetable for the binding multi-year Offtake Agreement, announced on August 5. All core commercial terms of the 9,000 tonnes per annum Offtake Agreement of anode active material are unchanged, including volume commitments and the established pricing framework. The extension enables the Company with additional flexibility through July 31, 2027 to satisfy financing, construction, commissioning and first production milestones for its planned Battery Anode Facility in the United Arab Emirates. The Company’s recently completed C$25M public offering advances the completion of detailed engineering, site development and the project financing process for the UAE BAF. As previously announced, the Company is advancing toward a targeted Final Investment Decision for the UAE BAF by the end of this month.