NextSource Materials Announces Results of 2025 Annual Meeting of Shareholders
NextSource Materials Announces Results of
2025 Annual Meeting of Shareholders
NEWS RELEASE – TORONTO, December 31, 2025
NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRCF) (“NextSource” or the “Company”) is pleased
to announce the results of the Annual Meeting of Shareholders of the Company (the “Meeting”) held
virtually at 8:00 AM (Toronto time) on December 30, 2025.
AGM Results
The final voting results of the Meeting are set out below:
(1) Election of Directors. The Company’s shareholders elected each of the nominees as directors to
serve until the next annual meeting of shareholders, or until their respective successors are
elected or appointed. The following table sets forth the voting results with respect to the election
of directors:
Nominee For Against
Sir Mick Davis 99.6% 0.4%
Hanré Rossouw 99.5% 0.5%
Christopher Kruba 99.7% 0.3%
Ian Pearce 99.7% 0.3%
Craig Scherba 99.5% 0.5%
Brett Whalen 99.5% 0.5%
(2) Appointment of Auditor. The Company’s shareholders approved the appointment of
PricewaterhouseCoopers LLP, Chartered Professional Accountants, as the Company’s auditors
for the fiscal year ending June 30, 2026 and that the Board of Directors is authorized to fix their
remuneration. The following table sets forth the voting results with respect to the appointment of
PricewaterhouseCoopers LLP:
For Withheld
99.9% 0.1%
A total of 101,161,308 common shares equivalent to 54.7% of the common shares entitled to vote were
represented in person or by proxy at the Meeting.
ABOUT NEXTSOURCE MATERIALS INC.
NextSource Materials Inc. is a battery materials company based in Toronto, Canada that is intent on
becoming a vertically integrated global supplier of battery materials through the mining and value-added
processing of graphite and other minerals.
The Company’s Molo graphite project in Madagascar is one of the largest known and highest -quality
graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun
production through Phase 1 mine operations.
The Company is also developing a significant downstream graphite value-add business through the staged
rollout of Battery Anode Facilities (BAF) capable of large-scale production of coated, spheronized and
purified graphite for direct delivery to battery and automotive customers, in a fully transparent and traceable
manner. The Company is now in the process of developing its first BAF in the UAE.
NextSource Materials is listed on the Toronto Stock Exchange under the symbol “NEXT” and on the OTCQB
under the symbol “NSRCF".
For further information about NextSource Materials, please visit our website at
www.nextsourcematerials.com or contact us at +1.416.364.4911 or email Brent Nykoliation, Executive Vice
President at [email protected].
CAUTIONARY NOTE
This press release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the
meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance o n
forward-looking information or statements. Forward looking statements and information are frequently characterized by words such
as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “potential”, “possible” and other similar words, or statements
that certain events or conditions “may”, “will”, “could”, or “should” occur. Forward- looking statements include any statements regarding,
among others, reaching nameplate production capacity and the rollout of Battery Anode Facilities including the capabilities and the
timing and economics thereof. These statements 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 because
of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking
statements contained in this news release are based on what management believes are reasonable assumptions, the Company
cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of
this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the
Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or
circumstances occurring after the date of this news release.