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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Nextsource Materials Inc (QB) | USOTC:NSRCF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.022627 | -4.69% | 0.46 | 0.45 | 0.55 | 0.4777 | 0.46 | 0.4777 | 9,837 | 21:00:02 |
[X]
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2016
|
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
|
Minnesota
|
|
20-0803515
|
(State or other jurisdiction of
Incorporation or organization)
|
|
(I.R.S. Employer
Identification No.)
|
520 – 141 Adelaide Street West, Toronto, Ontario
|
|
M5H 3L5
|
(Address of principal executive offices)
|
|
(Zip Code)
|
September 30,
2016
|
June 30,
2016
|
|||||||
Assets
|
||||||||
Current Assets:
|
||||||||
Cash and cash equivalents
|
$
|
4,641,821
|
$
|
544,813
|
||||
Amounts receivable
|
23,630
|
13,955
|
||||||
Prepaid expenses (note 6)
|
36,837
|
11,545
|
||||||
Total current assets
|
4,702,288
|
570,313
|
||||||
Equipment (note 4)
|
10,910
|
21,911
|
||||||
Total Assets
|
$
|
4,713,198
|
$
|
592,224
|
||||
Liabilities and Stockholders' Equity
|
||||||||
Liabilities
|
||||||||
Current Liabilities:
|
||||||||
Accounts payable (note 6)
|
$
|
149,887
|
$
|
215,391
|
||||
Accrued liabilities
|
22,651
|
24,743
|
||||||
Contingency provision (note 13)
|
180,973
|
182,742
|
||||||
Warrant liability (note 10)
|
53,883
|
111,049
|
||||||
Total Liabilities
|
$
|
407,394
|
$
|
533,925
|
||||
Stockholders' Equity (Deficiency)
|
||||||||
Common stock
|
460,996
|
364,932
|
||||||
650,000,000 shares authorized, $0.001 par value, 460,995,711 issued and outstanding (June 30, 2016: 364,931,425) (note 7)
|
||||||||
Additional paid‑in capital (note 7)
|
98,365,264
|
93,654,114
|
||||||
Accumulated deficit
|
(94,520,456
|
)
|
(93,960,747
|
)
|
||||
Total Stockholders' Equity
|
4,305,804
|
58,299
|
||||||
Total Liabilities and Stockholders' Equity
|
$
|
4,713,198
|
$
|
592,224
|
Three months ended
|
Three months ended
|
|||||||
September 30,
2016
|
September 30,
2015
|
|||||||
Revenues
|
$
|
-
|
$
|
-
|
||||
Expenses
|
||||||||
Mineral exploration expense (notes 5, 6 and 12)
|
313,107
|
176,959
|
||||||
Professional and consulting fees (note 6)
|
143,717
|
188,717
|
||||||
General and administrative (note 6)
|
62,184
|
90,858
|
||||||
Depreciation (note 4)
|
11,001
|
23,599
|
||||||
Part XII.6 Taxes (note 13)
|
33,630
|
-
|
||||||
Foreign currency translation loss
|
53,236
|
103,318
|
||||||
Total Expenses
|
616,875
|
583,451
|
||||||
Net Loss From Operations
|
(616,875
|
)
|
(583,451
|
)
|
||||
Other Income (Expenses)
|
||||||||
Investment income
|
-
|
281
|
||||||
Change in value of warrant liability (note 10)
|
57,166
|
633,506
|
||||||
Net Income (Loss)
|
$
|
(559,709
|
)
|
$
|
50,336
|
|||
Unrealized gain from marketable securities
|
-
|
1,176
|
||||||
Comprehensive Income (Loss)
|
$
|
(559,709
|
)
|
$
|
51,512
|
|||
Income (loss) per share – basic and diluted
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
||
Weighted average shares outstanding (note 11)
|
409,761,425
|
323,085,337
|
Three months ended
September 30,
2016
|
Three months ended
September 30,
2015
|
|||||||
Operating Activities
|
||||||||
Net Income (Loss)
|
$
|
(559,709
|
)
|
$
|
50,336
|
|||
Adjustments to reconcile net loss to net cash used in operating activities:
|
||||||||
Depreciation
|
11,001
|
23,599
|
||||||
Change in value of warrant derivative liability
|
(57,166
|
)
|
(633,506
|
)
|
||||
Change in operating assets and liabilities:
|
||||||||
Amounts receivable and prepaid expenses
|
(34,968
|
)
|
(2,015
|
)
|
||||
Accounts payable and accrued liabilities
|
(67,595
|
)
|
42,105
|
|||||
Contingency provision
|
(1,769
|
)
|
(12,830
|
)
|
||||
Net cash used in operating activities
|
(710,206
|
)
|
(532,311
|
)
|
||||
Investing Activities
|
||||||||
Loan to related party
|
-
|
76,450
|
||||||
Net cash provided by investing activities
|
-
|
76,450
|
||||||
Financing Activities
|
||||||||
Proceeds from issuance of common stock
|
5,177,885
|
-
|
||||||
Common stock issue costs
|
(370,671
|
)
|
(26,969
|
)
|
||||
Share subscriptions received in advance
|
-
|
440,673
|
||||||
Net cash provided by financing activities
|
4,807,214
|
413,704
|
||||||
Net decrease in cash and cash equivalents
|
4,097,008
|
(42,157
|
)
|
|||||
Cash and cash equivalents ‑ beginning of period
|
544,813
|
779,118
|
||||||
Cash and cash equivalents ‑ end of period
|
$
|
4,641,821
|
$
|
736,961
|
||||
Supplemental Disclosures:
|
||||||||
Interest Received
|
$
|
-
|
$
|
281
|
Shares
#
|
Common Stock
$
|
Additional Paid-In
Capital
$
|
Accumulated Comprehensive Income (Loss)
$
|
Accumulated Deficit
$
|
Total
$
|
|||||||||||||||||||
Balance ‑ June 30, 2015
|
309,384,670
|
309,385
|
91,614,714
|
(4,323
|
)
|
(92,327,034
|
)
|
(407,258
|
)
|
|||||||||||||||
Conversion of Special Warrants into common shares
|
20,550,998
|
20,551
|
(20,551
|
)
|
-
|
-
|
-
|
|||||||||||||||||
Cost of issue of private placement of common shares subscribed
|
-
|
-
|
(26,969
|
)
|
-
|
-
|
(26,969
|
)
|
||||||||||||||||
Unrealized gain on marketable securities
|
-
|
-
|
-
|
1,176
|
-
|
1,176
|
||||||||||||||||||
Net loss for the period
|
-
|
-
|
-
|
-
|
50,336
|
50,336
|
||||||||||||||||||
Balance ‑ September 30, 2015
|
329,936,668
|
329,936
|
91,567,194
|
(3,147
|
)
|
(92,276,698
|
)
|
(382,715
|
)
|
|||||||||||||||
Private placement of common shares subscribed
|
14,200,000
|
14,200
|
516,473
|
-
|
-
|
530,673
|
||||||||||||||||||
Private placement of common shares subscribed
|
6,437,900
|
6,438
|
322,539
|
-
|
-
|
328,977
|
||||||||||||||||||
Private placement of common shares subscribed
|
3,207,857
|
3,208
|
169,425
|
-
|
-
|
172,633
|
||||||||||||||||||
Private placement of common shares subscribed
|
11,150,000
|
11,150
|
771,580
|
-
|
-
|
782,730
|
||||||||||||||||||
Cost of issue of private placement of common shares subscribed
|
-
|
-
|
(24,588
|
)
|
-
|
-
|
(24,588
|
)
|
||||||||||||||||
Stock‑based compensation
|
-
|
-
|
331,491
|
-
|
-
|
331,491
|
||||||||||||||||||
Loss on marketable securities
|
-
|
-
|
-
|
(3,745
|
)
|
-
|
(3,745
|
)
|
||||||||||||||||
Reclassified loss to profit or loss
|
-
|
-
|
-
|
6,892
|
-
|
6,892
|
||||||||||||||||||
Net loss for the period
|
-
|
-
|
-
|
-
|
(1,684,049
|
)
|
(1,684,049
|
)
|
||||||||||||||||
Balance ‑ June 30, 2016
|
364,931,425
|
364,932
|
93,654,114
|
-
|
(93,960,747
|
)
|
58,299
|
|||||||||||||||||
Private placement of common shares subscribed
|
96,064,286
|
96,064
|
5,081,821
|
-
|
-
|
5,177,885
|
||||||||||||||||||
Cost of issue of private placement of common shares subscribed
|
-
|
-
|
(370,671
|
)
|
-
|
-
|
(370,671
|
)
|
||||||||||||||||
Net loss for the period
|
-
|
-
|
-
|
-
|
(559,709
|
)
|
(559,709
|
)
|
||||||||||||||||
Balance ‑ September 30, 2016
|
460,995,711
|
460,996
|
98,365,264
|
-
|
(94,520,456
|
)
|
4,305,804
|
· |
"Presentation of Financial Statements Going Concern (ASC Topic 205‑40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern ("ASU 2014‑15") was issued during August 2014. FASB issued guidance on how to account for and disclose going concern risks. This guidance is effective for annual periods beginning after December 15, 2016.
|
· |
“Leases” (ASU 2016-02) was issued during February 2016. This update will require organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. The new guidance will also require additional disclosure about the amount, timing and uncertainty of cash flows arising from leases. This guidance is effective for annual and interim periods beginning after December 15, 2018.
|
· |
“Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (ASU 2016-09) was issued in March 2016. This new standard provided guidance for the simplification of several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This standard is effective for annual periods beginning after December 15, 2016.
|
· |
“Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”) was issued in August 2016. This update addresses several specific cash flow issues with the objective of reducing the existing diversity in practice.
|
Equipment
Cost
$
|
Accumulated
Depreciation
$
|
Net Book
Value
$
|
||||||||||
Balance June 30, 2015
|
195,561
|
117,048
|
78,513
|
|||||||||
Add: Depreciation
|
23,599
|
|||||||||||
Balance September 30, 2015
|
195,561
|
140,647
|
54,914
|
|||||||||
Add: Depreciation
|
33,003
|
|||||||||||
Balance June 30, 2016
|
195,561
|
173,650
|
21,911
|
|||||||||
Add: Depreciation
|
11,001
|
|||||||||||
Balance September 30, 2016
|
195,561
|
184,651
|
10,910
|
a) |
The Company incurred $131,784 in payroll, management and consulting expenditures incurred directly to directors and officers or companies under their control (September 30, 2015: $182,851).
|
a) |
The accounts payable balance for payroll, management and consulting expenditures owed to directors and officers or companies under their control was $22,177 at the end of the period (June 30, 2016: $42,000).
|
b) |
The prepaid payroll balance for payroll expenditures paid to officers was $18,275 at the end of the period (June 30, 2016: $nil)
|
(a) |
On August 18, 2016, the Company closed a non-brokered private placement offering of 96,064,286 common shares at a price of $0.05 (CAD$0.07) for aggregate gross proceeds of $5,177,885 (CAD$6,724,500). The share issue costs totaled $370,671 for this issuance.
|
Grant
Date
|
Expiration
Date
|
Exercise
Price
|
Balance On
June 30,
2016
|
Balance On
September 30,
2016
|
|||||||||
July 1, 2011
|
July 1, 2016
|
$
|
0.30
|
3,300,000
|
-
|
||||||||
July 12, 2012
|
July 13, 2016
|
$
|
0.29
|
1,650,000
|
-
|
||||||||
October 24, 2011
|
October 24, 2016
|
$
|
0.20
|
1,640,000
|
1,640,000
|
||||||||
December 1, 2011
|
December 1, 2016
|
$
|
0.21
|
1,785,000
|
1,785,000
|
||||||||
March 7, 2012
|
March 4, 2017
|
$
|
0.28
|
4,900,000
|
4,900,000
|
||||||||
May 23, 2012
|
May 23, 2017
|
$
|
0.23
|
180,000
|
180,000
|
||||||||
February 27, 2013
|
February 27, 2018
|
$
|
0.21
|
4,900,000
|
4,900,000
|
||||||||
July 9, 2013
|
July 9, 2018
|
$
|
0.11
|
1,080,000
|
1,080,000
|
||||||||
September 19, 2013
|
July 19, 2018
|
$
|
0.15
|
675,000
|
675,000
|
||||||||
October 9, 2013
|
October 9, 2018
|
$
|
0.13
|
250,000
|
250,000
|
||||||||
January 10, 2014
|
January 10, 2019
|
$
|
0.18
|
4,400,000
|
4,400,000
|
||||||||
July 3, 2014
|
July 3, 2019
|
$
|
0.15
|
4,275,000
|
4,275,000
|
||||||||
February 26, 2015
|
February 26, 2020
|
$
|
0.20
|
4,430,000
|
4,430,000
|
||||||||
December 22, 2015
|
December 22, 2020
|
$
|
0.06
|
8,500,000
|
8,500,000
|
||||||||
Total Outstanding
|
41,965,000
|
37,015,000
|
Weighted-Average
Exercise Price ($)
|
Number of
Stock Options
|
|||||||
Outstanding as of June 30, 2015
|
0.22
|
35,365,000
|
||||||
Granted
|
0.06
|
8,500,000
|
||||||
Exercised
|
-
|
-
|
||||||
Expired
|
0.23
|
(1,900,000
|
)
|
|||||
Outstanding as of June 30, 2016
|
0.18
|
41,965,000
|
||||||
Granted
|
-
|
-
|
||||||
Exercised
|
-
|
-
|
||||||
Expired
|
0.30
|
(4,950,000
|
)
|
|||||
Outstanding as of September 30, 2016
|
0.17
|
37,015,000
|
Issued
Date
|
Expiration
Date
|
Exercise
Price
|
Balance On
June 30,
2016
|
Balance On
September 30,
2016
|
|||||||||
September 26, 2014
|
September 26, 2016
|
$
|
0.14
|
1,928,571
|
-
|
||||||||
November 15, 2012
|
November 15, 2016
|
$
|
0.18
|
2,903,571
|
2,903,571
|
||||||||
December 30, 2014
|
December 30, 2016
|
$
|
0.12
|
147,000
|
147,000
|
||||||||
January 14, 2014
|
January 14, 2017
|
$
|
0.14
|
(a) |
29,152,033
|
29,152,033
|
|||||||
January 31, 2014
|
January 31, 2017
|
$
|
0.14
|
(a) |
590,000
|
590,000
|
|||||||
October 7, 2015
|
October 6, 2017
|
$
|
0.07
|
7,100,000
|
7,100,000
|
||||||||
July 31, 2015
|
May 4, 2018
|
$
|
0.14
|
10,275,499
|
10,275,499
|
||||||||
February 4, 2016
|
February 4, 2018
|
$
|
0.11
|
6,437,900
|
6,437,900
|
||||||||
April 11, 2016
|
April 11, 2018
|
$
|
0.11
|
3,207,857
|
3,207,857
|
||||||||
June 23, 2014
|
April 15, 2019
|
$
|
0.14
|
3,500,000
|
3,500,000
|
||||||||
Total Outstanding
|
65,242,431
|
63,313,860
|
(a) |
These warrants were issued at a $0.18 CAD exercise price.
|
Weighted-Average
Exercise Price ($)
|
Number of
Warrants
|
|||||||
Outstanding as of June 30, 2015
|
0.10
|
*
|
63,618,917
|
|||||
Issued
|
0.11
|
27,021,256
|
||||||
Exercised
|
-
|
(20,550,998
|
)
|
|||||
Expired
|
0.12
|
*
|
(4,846,744
|
)
|
||||
Outstanding as of June 30, 2016
|
0.13
|
*
|
65,242,431
|
|||||
Issued
|
-
|
-
|
||||||
Exercised
|
-
|
-
|
||||||
Expired
|
0.14
|
(1,928,571
|
)
|
|||||
Outstanding as of September 30, 2016
|
0.13
|
*
|
63,313,860
|
Period Ended
September 30,
2016
|
Year Ended
June 30,
2016
|
|||||||
Exercise price
|
$
|
0.14
|
$
|
0.14
|
||||
Risk free rate
|
0.50
|
%
|
0.50
|
%
|
||||
Expected volatility
|
103
|
%
|
88
|
%
|
||||
Expected dividend yield
|
Nil
|
Nil
|
||||||
Expected life (in years)
|
0.29
|
0.55
|
||||||
Opening balance, derivative warrant liability
|
$
|
111,049
|
$
|
844,851
|
||||
Gain on change in fair value of derivative warrant liability
|
(57,166
|
)
|
(733,802
|
)
|
||||
Ending balance, derivative warrant liability
|
$
|
53,883
|
$
|
111,049
|
Mineral Exploration Expense
|
Madagascar
$
|
Canada
$
|
Total
$
|
|||||||||
Three month period ended September 30, 2016
|
279,749
|
33,358
|
313,107
|
|||||||||
Three month period ended September 30, 2015
|
137,229
|
39,730
|
176,959
|
Cash and Equivalents
|
Madagascar
$
|
Canada
$
|
Total
$
|
|||||||||
As of September 30, 2016
|
26,361
|
4,615,460
|
4,641,821
|
|||||||||
As of June 30, 2016
|
29,239
|
515,574
|
544,813
|
(a) |
During fiscal 2014, the Company issued 17,889,215 flow-through shares to eligible Canadian taxpayer subscribers with contractual commitments for the Company to incur $3,812,642 in eligible Canadian Exploration Expenditures (“CEEs”) by December 31, 2014 as per the provision of the Income Tax Act of Canada. The CEEs were renounced as a tax credit to the flow-through share subscribers on December 31, 2013. As at December 31, 2014, the Company had unfulfilled CEE obligations. During the year ended June 30, 2015, the Company recorded a contingent provision for the Part XII.6 taxes and related penalties for the indemnification liability to subscribers for taxes and penalties related to the CEE renunciation shortfall of $190,087. During the period ended September 30, 2016, the Company adjusted the provision due to foreign exchange fluctuations to $180,973.
|
(b) |
On July 30, 2016, the Company concluded a legal settlement with the Company’s former Chief Financial Officer, whereby a severance of $34,457 (CAD$44,750) was awarded and paid as at September 30, 2016.
|
FEED Study Operating Cost Summary
|
Ore US$/T
|
Concentrate US$/T
|
|||||||
Mining
|
$
|
5.29
|
$
|
86.07
|
|||||
Processing
|
$
|
18.47
|
$
|
300.46
|
|||||
General & Administrative
|
$
|
4.17
|
$
|
67.85
|
|||||
Trucking to Port
|
$
|
68.60
|
|||||||
Shipping (CIF Rotterdam)
|
$
|
140.53
|
|||||||
Total Costs
|
$
|
663.51
|
FEED Study and Value Engineering
|
$
|
250,000
|
|||
Metallurgy
|
$
|
500,000
|
|||
Phase 1 processing plant
|
$
|
7,000,000
|
|||
Phase 1 related infrastructure
|
$
|
1,500,000
|
|||
Permitting fees
|
$
|
750,000
|
|||
Total
|
$
|
10,000,000
|
Three months ended
|
Three months ended
|
|||||||
September 30,
2016
|
September 30,
2015
|
|||||||
Revenues
|
$
|
-
|
$
|
-
|
||||
Expenses
|
||||||||
Mineral exploration expense
|
313,107
|
176,959
|
||||||
Professional and consulting fees
|
143,717
|
188,717
|
||||||
General and administrative
|
62,184
|
90,858
|
||||||
Depreciation
|
11,001
|
23,599
|
||||||
Part XII.6 Taxes
|
33,630
|
-
|
||||||
Foreign currency translation loss (gain)
|
94,593
|
103,318
|
||||||
Total Expenses
|
616,875
|
583,451
|
||||||
Net Loss From Operations
|
(616,875
|
)
|
(583,451
|
)
|
||||
Other Income (Expenses)
|
||||||||
Investment income
|
-
|
281
|
||||||
Change in value of warrant liability
|
57,166
|
633,506
|
||||||
Net Gain (Loss)
|
$
|
(559,709
|
)
|
$
|
50,336
|
|||
Unrealized gain (loss) from marketable securities
|
-
|
1,176
|
||||||
Comprehensive Gain (Loss)
|
$
|
(559,709
|
)
|
$
|
51,512
|
|||
Gain (Loss) per share – basic and diluted
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
||
Weighted average shares outstanding
|
409,761,425
|
323,085,337
|
●
|
Mineral exploration costs increased as the company increased metallurgical analysis activities related to the Feed Study and for general Molo graphite project expenditures as compared to the previous period.
|
●
|
Professional fees and general and administrative (G&A) costs decreased as a result of a reduction in employees and consultants as compared to the previous period.
|
●
|
Part XII.6 taxes were incurred to settle taxes payable to the Canada Revenue Agency (CRA) related to the issuance of flow-through shares during fiscal 2014.
|
●
|
Warrants expiring in January 2017 were issued in a currency other than our functional currency. In accordance with ASC 815
Derivatives and Hedging
, the fair value of the warrants was estimated using a binomial model and was recorded as a derivative liability. The liability must be subsequently remeasured at the end of each financial reporting period until expiration or exercise of the underlying warrants.
|
September 30,
2016
(Unaudited)
|
June 30,
2016
|
|||||||
Assets
|
||||||||
Current Assets:
|
||||||||
Cash and cash equivalents
|
$
|
4,641,821
|
$
|
544,813
|
||||
Marketable securities (note 4)
|
-
|
-
|
||||||
Amounts receivable
|
23,630
|
13,955
|
||||||
Prepaid expenses
|
36,837
|
11,545
|
||||||
Total current assets
|
4,702,288
|
570,313
|
||||||
Liabilities
|
||||||||
Current Liabilities:
|
||||||||
Accounts payable (note 7)
|
$
|
149,887
|
$
|
215,391
|
||||
Accrued liabilities
|
22,651
|
24,743
|
||||||
Contingency provision (note 14)
|
180,973
|
182,742
|
||||||
Warrant liability (note 11)
|
53,883
|
111,049
|
||||||
Total current liabilities
|
407,394
|
533,925
|
||||||
Net Working Capital Position
|
$
|
4,294,894
|
$
|
36,388
|
· |
For the year ended June 30, 2014, we raised net proceeds of $9,559,926 through the issuance of 90,523,283 common shares and 39,312,130 common share purchase warrants.
|
· |
For the year ended June 30, 2015, we raised net proceeds of $6,663,148 through the issuance of 40,757,067 common shares and 22,626,569 common share purchase warrants.
|
· |
On October 7, 2015, we closed a non-brokered private placement offering of 14,200,000 units (the “Units”) at a price of $0.04 (CAD$0.05) per Unit, representing gross proceeds of $530,673 (CAD$710,000). Insiders subscribed for a total of $50,000CAD as part of this Offering. Each Unit is comprised of one (1) common share and one-half (0.5) of one (1) common share purchase warrant (a “Warrant”), each Warrant entitling the holder thereof to acquire one (1) additional common share at a price of $0.07 per share until October 6, 2017.
|
· |
On February 4, 2016, we closed a private placement offering of 6,437,900 units (the “Units”) at a price of $0.05 (CAD$0.07) per unit, representing aggregate gross proceeds of $328,977 (CAD$450,653). Each Unit consisted of one common share and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one common share at a price of $0.11 per common share until February 4, 2018.
|
· |
On April 11, 2016, we closed a private placement offering of 3,207,857 units (the “Units”) at a price of $0.05 (CAD$0.07) per unit, representing aggregate gross proceeds of $172,638 (CAD$224,550). Each Unit consisted of one common share and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one common share at a price of $0.11 per common share until April 11, 2018.
|
· |
On May 17, 2016, we closed a private placement offering of 11,150,000 common shares at a price of $0.07 (CAD$0.09) per unit, representing aggregate gross proceeds of $772,500 (CAD$1,003,500).
|
· |
On August 18, 2016, we closed a private placement offering of 96,064,286 common shares at a price of $0.05 (CAD$0.07) per unit, representing aggregate gross proceeds of $5,177,865 (CAD$6,724,500).
|
· |
None.
|
· |
On August 18, 2016, the Company closed a private placement offering of 96,064,286 common shares at a price of $0.05 (CAD$0.07) per unit, representing aggregate gross proceeds of $5,177,885 (CAD$6,724,500).
|
3.1 |
Articles of Incorporation of Uranium Star Corp. (now known as Energizer Resources Inc.) (Incorporated by reference to Exhibit 3.3 to the registrant’s registration statement on Form S-1 filed on July 29, 2015)
|
3.3 |
Amended and Restated By-Laws of Energizer Resources Inc. (Incorporated by reference to Exhibit 3.2 to the registrant’s current report on Form 8-K as filed with the SEC on July 16, 2010)
|
3.4 |
Amendment to the By-Laws of Energizer Resources Inc. (Incorporated by reference to the registrant’s current report on Form 8-K as filed with the SEC on October 16, 2013)
|
4.1 |
Amended and Restated 2006 Stock Option Plan of Energizer Resources, Inc. (as of February 2009) (Incorporated by reference to Exhibit 4.1 to the registrant's Form S-8 registration statement as filed with the SEC on February 19, 2010)
|
4.2 |
Form of broker Subscription Agreement for Units (Canadian and Offshore Subscribers) (Incorporated by reference to Exhibit 4.1 to the registrant’s current report on Form 8-K as filed with the SEC on March 19, 2010)
|
4.3 |
Form of standard Subscription Agreement for Units (Canadian and Offshore Subscribers) (Incorporated by reference to Exhibit 4.2 to the registrant’s current report on Form 8-K as filed with the SEC on March 19, 2010)
|
4.4 |
Form of Warrant to Purchase common shares (Incorporated by reference to Exhibit 4.3 to the registrant’s current report on Form 8-K as filed with the SEC on March 19, 2010)
|
4.5 |
Form of Class A broker warrant to Purchase common shares (Incorporated by reference to Exhibit 4.4 to the registrant’s current report on Form 8-K as filed with the SEC on March 19, 2010)
|
4.6 |
Form of Class B broker warrant to Purchase common shares (Incorporated by reference to Exhibit 4.5 to the registrant’s current report on Form 8-K as filed with the SEC on March 19, 2010)
|
4.7 |
Agency Agreement, dated March 15, 2010, between Energizer Resources, Clarus Securities Inc. and Byron Securities Limited (Incorporated by reference to Exhibit 4.6 to the registrant’s current report on Form 8-K filed with the SEC on March 19, 2010)
|
4.8 |
Form of Warrant relating to private placement completed during November 2012.
|
4.9 |
Agency Agreement relating to private placement completed during November 2012.
|
4.10. |
Amended and Restated Stock Option Plan of Energizer Resources, Inc. (Incorporated by reference to the registrant’s current report on Form 8-K as filed with the SEC on October 16, 2013)
|
10.1 |
Property Agreement effective May 14, 2004 between Thornton J. Donaldson and Thornton J. Donaldson, Trustee for Yukon Resources Corp. (Incorporated by reference to Exhibit 10.1 to the registrant's Form SB-2 registration statement as filed with the SEC on September 14, 2004)
|
10.2 |
Letter of Intent dated March 10, 2006 with Apofas Ltd. (Incorporated by reference to Exhibit 99.1 to the registrant's current report on Form 8-K as filed with the SEC on March 13, 2006)
|
10.3 |
Letter agreement effective May 12, 2006 between Yukon Resources Corp. and Virginia Mines Inc. (Incorporated by reference to Exhibit 99.1 to the registrant's current report on Form 8-K filed as with the SEC on May 9, 2006)
|
10.4 |
Joint Venture Agreement dated August 22, 2007 between Uranium Star Corp. & Madagascar Minerals and Resources Sarl (Incorporated by reference to Exhibit 10.1 to the registrant's Form 8-K as filed with SEC on September 11, 2007)
|
10.5 |
Share Purchase Agreement between Madagascar Minerals and Resources Sarl and THB Venture Limited (a subsidiary of Energizer Resources Inc.) dated July 9, 2009 (Incorporated by reference to Exhibit 10.5 to the registrant’s Form 10-K/A as filed on April 8, 2013)
|
10.6 |
Joint Venture Agreement between Malagasy Minerals Limited and Energizer Resources Inc. dated December 14, 2011 (Incorporated by reference to Exhibit 10.6 to the registrant’s Form 10-K/A as filed on April 8, 2013).
|
10.7 |
Agreement to Purchase Interest In Claims between Honey Badger Exploration Inc. and Energizer Resources Inc. dated February 28, 2014.(Incorporated by reference to Exhibit 10.7 to the registrant’s Form 10-Q as filed on May 14, 2014).
|
10.8 |
Sale and Purchase Agreement between Malagasy Minerals Limited and Energizer Resources Inc. dated April 16, 2014 (Incorporated by reference to Exhibit 10.8 to the registrant’s Form 10-Q as filed on May 14, 2014).
|
10.9 |
ERG Project Minerals Rights Agreement between Malagasy Minerals Limited and Energizer Resources Inc. dated April 16, 2014 (Incorporated by reference to Exhibit 10.9 to the registrant’s Form 10-Q as filed on May 14, 2014).
|
10.10 |
Green Giant Project Joint Venture Agreement between Malagasy Minerals Limited and Energizer Resources Inc. dated April 16, 2014 (Incorporated by reference to Exhibit 10.9 to the registrant’s Form 10-Q as filed on May 14, 2014).
|
21 |
Subsidiaries of the Registrant (Incorporated by reference to Exhibit 21.1 to the registrant’s annual report on Form 10-K filed with the SEC on September 21, 2009)
|
31.1 |
Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act.
|
31.2 |
Certification of Principal Financial & Accounting Officer Pursuant to Section 302 of the Sarbanes-Oxley Act.
|
32.1 |
Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act.
|
32.2 |
Certification of Chief Accounting Officer Pursuant to Section 906 of the Sarbanes-Oxley Act.
|
By:
|
/s/ Craig Scherba
|
|
Name: Craig Scherba
|
|
Title: Chief Executive Officer and Director
|
By:
|
/s/ Marc Johnson
|
|
Name: Marc Johnson
|
|
Title: Chief Financial Officer (Principal Accounting Officer)
|
1 Year Nextsource Materials (QB) Chart |
1 Month Nextsource Materials (QB) Chart |
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