Adds to Trademark Registrations in Japan, South Korea & European Union
NEWS RELEASE – TORONTO, October 24, 2019
NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRCF) (“NextSource” or “the Company”), is pleased to announce that it has successfully registered Molo SuperFlake® as a trademark in Canada.
The successful registration of this trademark means that NextSource has the exclusive right to brand all of its natural flake graphite sold in Canada as Molo SuperFlake® from its fully permitted and feasibility-stage Molo Graphite Project in Madagascar when it enters production and begins exporting high-quality flake graphite.
In addition to Canada, SuperFlake® is a registered trademark in Japan, South Korea and the entire European Union, which NextSource was previously awarded back in October 2018, January 2018 and August 2017 respectively. These key jurisdictions represent the top demand markets for flake graphite and the locations where NextSource intends to sell its SuperFlake® graphite concentrate.
According to Roskill, a UK-based industrial minerals and battery materials research company, in 2018 Canada imported over 38,786 tonnes of flake graphite, Japan 57,863 tonnes, South Korea 58,341 tonnes and Germany 55,100 tonnes. All of the aforementioned, with the exception of South Korea, imported flake graphite directly from Madagascar in 2018.
About SuperFlake® High-Quality Graphite Concentrate
As detailed in the Company’s 2019 Feasibility Study (“FS”) released in September 2019, NextSource’s SuperFlake® graphite concentrate can achieve 98% carbon (C) purity with simple flotation alone, has excellent thermal expansion, can be easily upgraded to 99.97% battery grade purity and contains no deleterious substances. NextSource’s SuperFlake® graphite concentrate has been independently verified by end-user for all major demand markets for natural flake graphite, namely refractories, anode material for lithium-ion batteries, specialty graphite foils and graphene ink applications.
SuperFlake® graphite concentrate also has excellent flake size distribution that is well above the global average, with 46.4 percent being classified as the premium-priced large (+80mesh), extra large (+65mesh) and jumbo (+48mesh) sized flake. Specifically, 23.6 percent of SuperFlake® graphite concentrate is the jumbo size (+48 mesh) that is required exclusively for specialty graphite foils, where they are used in a myriad of applications in the chemical sealant, fire-retardant, automotive and consumer electronics industries.
Full-Modular Build Approach Provides Competitive Advantage
The robust results of the Company’s 2019 FS are being presented in the current discussions with mine financiers and outline a phased development approach to the planned Molo graphite mine, with Phase 1 producing 17,000 tonnes per annum (“tpa”) over the first two years of production and Phase 2 producing a total of 45,000 tpa in year three.
Both phases will utilize the Company’s unique, fully modular build approach, which greatly reduces build time and associated costs in relation to conventional mine construction and re-confirms that NextSource has one of the lowest mine capital costs of any competing graphite project globally at just US$21 million and projected competitive operating costs in the lowest quartile.
Mr. Craig Scherba, P.Geo., President and CEO, is the qualified person who reviewed and approved the technical information provided in this press release.
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 and ranks as one of the largest-known and highest quality flake graphite deposits in the world and the only project with SuperFlake® graphite.
For further information contact: +1.416.364.4911
Brent Nykoliation, Senior Vice President, Corporate Development at firstname.lastname@example.org or Craig Scherba, President and CEO at craig@ nextsourcematerials.com
Safe Harbour: This press release contains statements that may constitute “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements in this release relate to the results of the 2019 Feasibility Study, funding of the development of the Molo Project, implementation and commencement of the build-out of the Molo Project, commencement of production at the Molo Project, commencement of procurement for mine infrastructure, the procurement of equipment to construct a mine, value engineering, any and all product test results and product analysis, and the permit application. These 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 as a result of new information, future events or otherwise, except as may be required by applicable securities laws.