NextSource Materials Inc. announced it has closed $8.0 million of a total $11.0 million in non-dilutive royalty financing by Vision Blue Resources in respect to the sales of SuperFlake® graphite concentrate from the Molo Graphite Project. The royalty payment is part of the total $29.5 million strategic investment by Vision Blue Resources announced on February 8, 2021. Vision Blue is a newly created battery commodity/resource-focused private investment company founded by Sir Mick Davis. The company received $8.0 million in payment for the royalty, less a $1.5 million fee, for a net payment of $6.5 million. Pursuant to the financing package terms, the remaining $3.0 million in royalty financing will be advanced by Vision Blue upon the Company spending 80 percent of mine capital cost expenditures. The Vision Blue financing package is sufficient to fully fund construction of Phase 1 of the Molo Graphite Mine, the technical study for the Phase 2 Molo expansion to a targeted minimum of 150,000 tonnes per annum, the technical study for the construction of a battery anode facility, and a new metallurgical study to advance the Company’s Green Giant Vanadium Project.