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NextSource Materials Files Amended and Restated Unaudited Condensed Interim Financial Statements and MD&A
TORONTO, ON / ACCESSWIRE / June 5, 2023 / NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("Ne...
About this update from Nextsource Materials Inc
[{"type":"text","content":"NextSource Materials Files Amended and Restated Unaudited Condensed Interim Financial Statements and MD&ATORONTO, ON / ACCESSWIRE / June 5, 2023 / NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) (\"NextSource\" or the \"Company\") announces that it has filed amended and restated unaudited condensed interim financial statements and management's discussion and analysis (\"MD&A\") for the nine and three months ended March 31, 2023, and 2022 (the \"Amended and Restated Financials\"), which amends and restates the previously filed unaudited condensed interim financial statements and MD&A for the nine and three months ended March 31, 2023, and 2022.The Amended and Restated Financials and MD&A were filed due to an error in the estimation of the present value of the Right of Use Asset for the Mauritius BAF property lease, whereby the ending balances for Property, plant and development, and current and long-term lease obligations as at March 31, 2023 and the amortization and lease finance costs for the three and nine months ended March 31, 2023 were overstated. A security deposit was also reclassified from prepaid expenses to long-term deposits to reflect updated expectations.The MD&A was also modified to include enhanced disclosures regarding the BAF development projects and the use of non-IFRS terms.About NextSource Materials Inc.NextSource Materials Inc. is a battery materials development 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 projects globally, and the only one with SuperFlake® graphite. Phase 1 of the Molo mine is in the commissioning phase.NextSource Materials is listed on the Toronto Stock Exchange (TSX) under the symbol \"NEXT\" and on the OTCQB under the symbol \"NSRCF\".For further information about NextSource visit our website at www.nextsourcematerials.com or contact us a +1.416.364.4911 or email Brent Nykoliation, Executive Vice President at [email protected] or Craig Scherba, President & CEO at [email protected] Harbour: This press release contains statements that may constitute \"forward-looking information\" or \"f...