NextSource Materials Raises $18.3M in Private Placement to Fund Abu Dhabi Anode Plant

Deal Summary

Toronto-listed graphite developer NextSource Materials announced it has completed a C$25 million private placement, raising approximately $18.3 million. Vision Blue, the anchor investor, subscribed for about 47% of the new shares. The funds will support the approval and construction of the first phase of a battery anode factory in Abu Dhabi.