NextSource Materials Announces Board Changes
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NextSource Materials Announces Board Changes
NEWS RELEASE – TORONTO, January 23, 2020
NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRCF) (“NextSource” or “the Company”) announces
board of director changes to the Company as it prepares for the transition from a mining development
company to a future producing entity.
Following the voting results of the shareholders in respect of the election of Directors at its Annual and
Special Meeting of Shareholders held in Toronto on December 2, 2019, in accordance with the policies of
the TSX and the Company’s majority voting policy, Mr. John Sanderson and Mr. Dalton Larson each
submitted an offer to resign from the Board. After careful consideration, the Board has accepted their
respective resignations.
Craig Scherba, President and CEO of NextSource stated, “Both Mr. Sanderson and Mr. Larson established
an ethos of strong corporate governance at NextSource which served and will continue to serve the
Company well in its transformation from a development company to a future producer. It has been both an
honour and a pleasure having John and Dalton on our Board, and we would like to thank them for the
innumerable contributions they both have made to the Company over their tenure. I speak for everyone at
NextSource in wishing John and Dalton the very best."
The Company is pleased to announce that it has appointed current director Mr. Dean Comand as Chairman
of the Board, and would like to welcome newly appointed members , Mr. Chris Kruba and Dr. David
McNeely, to the Board of Directors. All will serve as independent, non-executive directors. The Board has
determined that it will not immediately fill the vacanc ies created by the resignation of Mr. Sanderson and
Mr. Larson but will consider future candidates at the appropriate time to best serve the needs of the
Corporation.
NextSource is now at the stage of raising the mine capital and once secured, will be able to immediately
begin mine construction. The appointment of Mr. Comand to the Chairman of the Board position, and
election of Mr. Kruba and Mr. McNeely to the board of directors strengthens the Company by bringing
extensive expertise in mine engineering , mine operations, manufacturing , M&A and social responsibility
and governance.
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.
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For further information contact: +1.416.364.4911 or [email protected]
Brent Nykoliation, Senior Vice President, Cor porate Development at [email protected]
or Craig Scherba, President and CEO at [email protected]
Safe Harbour: This press release contains statements that may constitute “forward -looking statements” within the meaning of applica ble Canadian and
United States securities legislation. Readers are cautioned not to place undue reliance on such forward -looking statements. These forward-looking
statements are subject to risks and uncertainties and other factors that may cause NextSource Materials Inc. results to differ materially from
expectations. These include risks relating to market fluctuations, property performance and other risks. These forward -looking statements speak only
as of the date hereof. Certain statements contained in this press release constitute forward-looking statements. The use of any of the words
"anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and "confident" and similar exp ressions are intended to identify
forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such forward -looking statements. NextSource Materials Inc. believes that the expectations reflected
in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such fo rward-
looking statements included in, or incorporated by reference into, this press release shou ld not be unduly relied upon. These statements speak only as
of the date of this press release. NextSource Materials Inc. undertakes no obligation to publicly update or revise any forward -looking statements,
whether as a result of new information, future events or otherwise.