Business
NextSource Materials Executes Term Sheets with Strategic Investors and Local Capital Partners to Advance Towards Final Investment Decision for its Proposed UAE Battery Anode Facility
TORONTO, ON / ACCESS Newswire / January 12, 2026 / NextSource Materials Inc. (TSX:NEXT)(OTCQB:...
About this update from Nextsource Materials Inc
[{"type":"text","content":"NextSource Materials Executes Term Sheets with Strategic Investors and Local Capital Partners to Advance Towards Final Investment Decision for its Proposed UAE Battery Anode Facility TORONTO, ON / ACCESS Newswire / January 12, 2026 / NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) (\"NextSource\" or the \"Company\") is pleased to announce that it has finalized multiple term sheets with strategic investors to fund Phase 1 of the Company's proposed Battery Anode Facility (\"BAF\") in the Industrial City of Abu Dhabi in the UAE. These term sheets indicate substantial progress in the Company's strategic financing process and further reinforces the Company's path towards the final investment decision (\"FID\").The Company has finalized term sheets with several strategic investors, including local sovereign‑linked entities and a Japanese strategic consortium including a diversified industrial trading group with deep experience across the global battery materials and infrastructure sectors. This follows the successful conclusion of the first stage of due diligence and the investor site visit held on November 25, 2025 to the industrial building and site secured for the location of the Company's proposed BAF in the Industrial City of Abu Dhabi.The term sheets propose an equity investment at the project level in the BAF project under which new strategic partners would potentially acquire an interest of up to 50% in the UAE BAF and subsequently fund their pro rata share of Phase 1 capital costs. This approach aligns with NextSource's objective to minimize dilution of the Company while potentially partnering with investors that bring strategic and regional value to the BAF project and across the battery supply chain.The term sheets executed are non-binding and subject to customary conditions. The Company is now advancing next steps with these parties, alongside ongoing technical, commercial, and legal due diligence, with a view toward potentially finalizing a preferred funding structure and executing definitive agreements in the coming months.Hanré Rossouw, President and CEO of NextSource, commented:\"The level and quality of funding interest we are seeing at the project level is a strong validation of our UAE BAF strategy. These strategic investors recognize the importance of establishing secure, scalable, and geopolitically ...