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Offtake Agreement with thyssenkrupp Materials Tradinghttps://www.nextsourcematerials.com/posts/nextsource-materials-secures-offtake-agreement-with-thyssenkrupp-materials-trading/ NextSource Materials Secures Offtake Agreement with thyssenkrupp Materials Trading NEWS RELEASE – TORONTO, May 25, 2021 NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRCF) (“NextSource” or the “Company”) is pleased to announce it has executed an offtake agreement (“the Offtake”) with thyssenkrupp Materials Trading GmbH (“thyssenkrupp”), an international trading and services company headquartered in Essen, Germany, for a long-term commercial agreement for the sale of NextSource’s SuperFlake® graphite products. KEY HIGHLIGHTS
Wolfgang Schnittker,, CEO of thyssenkrupp Materials Trading commented, “The trustful cooperation with NextSource enables us to further expand our strong presence in the international foundry and refractories industry. It is our unique selling point to competitively serve various industries but especially emerging industries and their highly specified requirements.” NextSource President and CEO, Mr. Craig Scherba said, “This executed offtake agreement for the sale of our SuperFlake® graphite was the culmination of a multi-year process and is yet another significant milestone in the Company’s strategy in becoming a graphite producer of consequence. We are extremely pleased to formalize this partnership with thyssenkrupp given their expertise, scale, and extensive global distribution network. We look forward to expanding our relationship together as we organically expand our graphite market share over the years to come.” Jörg Glebe, Chief Operating Officer of thyssenkrupp Materials Trading and responsible for the minerals business added: “The partnership with NextSource underlines the consistent continuation of our activities to expand our high-quality graphite supply sources outside of China. In particular, the distribution range of the graphite flakes enables us to supply our customers even more in accordance with their needs and to support them in their long-term growth plans.” thyssenkrupp Materials Trading is an international trading and services company headquartered in Essen, Germany. Its product range includes raw materials such as alloys, nonferrous metals, minerals, coke, coal and ores, various raw materials for future technologies, metallurgical products such as steel and pipes, pipe accessories, finished steel and stainless steel, as well as trading with new and used industrial equipment, machine tools, spare parts, and structural elements for hydraulic steel engineering and the offshore sector, plus materials and logistics services of all kinds. The range is rounded out by tailored offers including financing and shipment. ABOUT THYSSENKRUPP MATERIALS SERVICES With around 480 locations – 271 of them warehousing locations – in over 40 countries, thyssenkrupp Materials Services is the biggest mill-independent materials distributor & service provider in the western world. The wide-ranging capabilities offered by the materials experts enable customers to concentrate more on their individual core business and span two strategic areas: global materials distribution as a one-stop-shop – from steel, tubes and pipes, nonferrous metals and specialty materials to plastics and raw materials – and tailored services in the areas of materials management and supply chain management. An extensive omni-channel architecture offers 250,000 customers worldwide round-the-clock access to more than 150,000 products and services. A high-performance logistics system ensures that all deliveries are integrated smoothly into customer production processes on a just-in-time or just-in-sequence basis. TEMPORARY SYMBOL CHANGE ON US EXCHANGE DUE TO SHARE CONSOLIDATION Pursuant to the Company’s May 18, 2021 news release announcing the implementation of a consolidation (reverse stock split) of its Common Shares effective May 25, 2021, the Financial Industry Regulatory Authority (“FINRA”) announced the share consolidation will also take effect in the US Markets under symbol NSRCF on May 25, 2021 in line with NextSource’s primary exchange, the Toronto Stock Exchange (“TSX”). As a result of the reverse split, FINRA will append a “D” as the fifth character in place of the “F” for a temporary period of 20 business days. After 20 business days the symbol will revert back to NSRCF. |
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