1 Aug 2023listing compliance notice▼ BadMajor
NextSource Materials Inc. deregistered its securities, ending its obligation to file reports with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Feb 2021substantial holder notice● Neutral
VR Global Partners, L.P, VR Advisory Services Ltd, VR Capital Participation Ltd, VR Capital Group Ltd, VR Capital Holdings Ltd, Richard Deitz reported a NextSource Materials Inc. shareholding of 28,991,713 shares (4.80% of votes) in a periodic institutional filing.
14 Feb 2019substantial holder notice● Neutral
VR Global Partners, L.P, VR Advisory Services Ltd, VR Capital Participation Ltd, VR Capital Group Ltd, VR Capital Holdings Ltd, Richard Deitz reported a NextSource Materials Inc. shareholding of 28,991,713 shares (5.90% of votes) in a periodic institutional filing.
14 Feb 2018substantial holder notice● Neutral
VR Global Partners, L.P, VR Advisory Services Ltd, VR Capital Participation Ltd, VR Capital Group Ltd, VR Capital Holdings Ltd, Richard Deitz reported a NextSource Materials Inc. shareholding of 30,658,713 shares (6.60% of votes) in a periodic institutional filing.
6 Dec 2017agm notice● Neutral
NextSource Materials Inc. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
14 Nov 2017quarterly activities report▼ Bad
NextSource Materials Inc. reported quarterly revenue of $0 and a net loss of $781 thousand for the period ended 2017-09-30.
7 Nov 2017substantial holder notice● Neutral
JPMORGAN CHASE & CO reported a NextSource Materials Inc. shareholding of 11,278,000 shares (2.40% of votes) in a periodic institutional filing.
2 Nov 2017securities registration● Neutral
NextSource Materials Inc. filed the final prospectus for a registered offering.
30 Oct 2017business combination● Neutral
Amendment No. 1 to the S-4 continues the proposed move from Minnesota to Canada and now sets the shareholder meeting for December 5, 2017, with a record date of October 6, 2017. The proposals are unchanged, including the reverse split of between one-for-five and one-for-ten, but the maximum shares registered rose slightly to 527,716,967 and the fee was topped up to $3,942.05. The filing says it will be sent to shareholders on or about November 13, 2017.
11 Oct 2017business combination● NeutralMajor
NextSource filed a registration statement (Form S-4) for a shareholder vote on moving the company's legal home from Minnesota to Canada (under the Canada Business Corporations Act). The same meeting would also vote on a possible reverse split of between one-for-five and one-for-ten, electing six directors, reappointing MNP LLP as auditor, and an advisory vote on executive pay. Up to 526,216,967 shares (including warrant and option shares) would be registered at an exchange ratio of 1, so shareholders would keep their share count in the move. The meeting date and record date were still blank.
27 July 2017director interest notice● Neutral
NextSource Materials Inc. CFO Marc Johnson bought 85,000 shares on the open market at $0.05.
12 June 2017director interest notice● Neutral
NextSource Materials Inc. director John Sanderson received a stock option grant for 2,400,000 shares.
12 June 2017director interest notice● Neutral
NextSource Materials Inc. Chief Financial Officer Marc Johnson received a stock option grant for 2,200,000 shares.
12 June 2017director interest notice● Neutral
NextSource Materials Inc. Chief Executive Officer Craig S Scherba received a stock option grant for 2,400,000 shares.
12 June 2017director interest notice● Neutral
NextSource Materials Inc. Vice President Robin Borley received a stock option grant for 2,200,000 shares.
12 June 2017director interest notice● Neutral
NextSource Materials Inc. Vice President Brent Nykoliation received a stock option grant for 2,200,000 shares.
12 June 2017director interest notice● Neutral
NextSource Materials Inc. director Dalton Leroy Larson received a stock option grant for 2,300,000 shares.
12 June 2017director interest notice● Neutral
NextSource Materials Inc. director Dino Arduino Comand received a stock option grant for 2,200,000 shares.
12 June 2017director interest notice● Neutral
NextSource Materials Inc. director Quentin Yarie received a stock option grant for 2,200,000 shares.
15 May 2017quarterly activities report▼ Bad
NextSource Materials Inc. reported a quarterly net loss of $1.0 million for the period ended 2017-03-31.
7 Mar 2017substantial holder notice● Neutral
Goodman & Company, Investment Counsel Inc. on behalf of CMP reported a NextSource Materials Inc. shareholding of 45,714,286 shares (9.92% of votes) in a periodic institutional filing.
7 Mar 2017substantial holder notice● Neutral
Goodman & Company, Investment Counsel Inc. on behalf of Dundee Global Resour disclosed a new substantial NextSource Materials Inc. shareholding (9.44% of votes).
15 Feb 2017quarterly activities report▼ Bad
NextSource Materials Inc. reported quarterly revenue of $0 and a net loss of $916 thousand for the period ended 2016-12-31.
14 Feb 2017substantial holder notice● Neutral
VR Global Partners, L.P, VR Advisory Services Ltd, VR Capital Participation Ltd, VR Capital Group Ltd, VR Capital Holdings Ltd, Richard Deitz reported a NextSource Materials Inc. shareholding of 40,033,713 shares (8.50% of votes) in a periodic institutional filing.
14 Nov 2016quarterly activities report▼ Bad
NextSource Materials Inc. reported a quarterly net loss of $560 thousand for the period ended 2016-09-30.
14 Nov 2016agm notice● Neutral
NextSource Materials Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
27 Oct 2016agm notice● Neutral
NextSource Materials Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
26 Aug 2016substantial holder notice● Neutral
Goodman & Company, Investment Counsel Inc disclosed a new substantial NextSource Materials Inc. shareholding (19.40% of votes).
24 Aug 2016capital raising announcement● NeutralMajor
The company closed its largest raise in this period: 96,064,286 shares at US$0.05 (CAD$0.07) for gross proceeds of US$5,177,865 (CAD$6,724,500). Investment funds managed by Goodman & Company, an affiliate of Dundee Corporation, bought CAD$6,000,000 of it, taking their total holding to just under 20%; Sprott Asset Management and existing shareholders took the rest. Dundee had nominee rights going back to 2010, so this deepens an existing relationship. It is a big new share issue, and the filing does not state the use of proceeds.
What it means for a shareholder
96.1m new shares at US$0.050 to raise about US$5.2m. That's 21% dilution: every existing holder's slice gets 21% smaller. If you held US$1,000 of shares (20,000 at the issue price), your slice goes from 0.00548% to 0.00434% of the company. To keep it you'd need 5,265 more shares - about US$263 at the issue price.
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18 May 2016capital raising announcement● Neutral
The company closed a placement of 11,150,000 shares at US$0.05 (CAD$0.09) for gross proceeds of US$772,695 (CAD$1,003,500). Unlike the recent raises, these units carry no warrants, and the price in Canadian dollars is higher than the CAD$0.07 of the February and April raises. The filing does not give the use of proceeds.
What it means for a shareholder
11.2m new shares at US$0.050 to raise about US$772,695. That's 3.1% dilution: every existing holder's slice gets 3.1% smaller. If you held US$1,000 of shares (20,000 at the issue price), your slice goes from 0.0057% to 0.00553% of the company. To keep it you'd need 636 more shares - about US$32 at the issue price.
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