INTERNATIONAL BATTERY METALS LTD. ANNOUNCES CLOSING OF ITS PREVIOUSLY ANNOUCED NON-BROKERED PRIVATE PLACEMENT FINANCING
International Battery Metals (OTCQB:IBATF) has completed its previously announced private placement financing with Encompass Capital Advisors LLC. The company issued 25,765,259 units at US$0.19406 per unit, raising aggregate gross proceeds of US$5 million. Each unit comprises one common share and one purchase warrant, exercisable at C$0.355 per share until August 5, 2028.
The company also received TSXV approval for amendments to previously issued warrants from multiple private placements with Encompass and EV Metals, extending their expiration dates to August 5, 2028. The proceeds will be used for preparing IBAT's modular direct lithium extraction plant (MDLE Plant) and general corporate purposes.
The securities are subject to a four-month statutory hold period and were sold in a private placement under Regulation D of the Securities Act.International Battery Metals (OTCQB:IBATF) ha completato il finanziamento tramite collocamento privato precedentemente annunciato con Encompass Capital Advisors LLC. La societ脿 ha emesso 25.765.259 unit脿 a US$0,19406 per unit脿, raccogliendo proventi lordi complessivi di 5 milioni di dollari USA. Ogni unit脿 comprende una azione ordinaria e un warrant d'acquisto, esercitabile a C$0,355 per azione fino al 5 agosto 2028.
La societ脿 ha inoltre ottenuto l'approvazione dalla TSXV per modifiche ai warrant emessi in precedenti collocamenti privati con Encompass e EV Metals, estendendo la loro scadenza al 5 agosto 2028. I proventi saranno utilizzati per la preparazione dell'impianto modulare di estrazione diretta del litio (MDLE Plant) di IBAT e per scopi aziendali generali.
Le azioni sono soggette a un periodo di blocco statutario di quattro mesi e sono state vendute in un collocamento privato ai sensi del Regulation D del Securities Act.
International Battery Metals (OTCQB:IBATF) ha completado su financiamiento privado previamente anunciado con Encompass Capital Advisors LLC. La compa帽铆a emiti贸 25,765,259 unidades a US$0.19406 por unidad, recaudando un total bruto de US$5 millones. Cada unidad incluye una acci贸n com煤n y un warrant de compra, ejercitable a C$0.355 por acci贸n hasta el 5 de agosto de 2028.
La compa帽铆a tambi茅n recibi贸 la aprobaci贸n de la TSXV para enmiendas a warrants emitidos en colocaciones privadas anteriores con Encompass y EV Metals, extendiendo sus fechas de vencimiento hasta el 5 de agosto de 2028. Los fondos se utilizar谩n para preparar la planta modular de extracci贸n directa de litio (MDLE Plant) de IBAT y para fines corporativos generales.
Los valores est谩n sujetos a un per铆odo de retenci贸n legal de cuatro meses y se vendieron en una colocaci贸n privada bajo el Reglamento D de la Ley de Valores.
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International Battery Metals (OTCQB:IBATF) a finalis茅 son financement par placement priv茅 pr茅c茅demment annonc茅 avec Encompass Capital Advisors LLC. La soci茅t茅 a 茅mis 25 765 259 unit茅s au prix unitaire de 0,19406 USD, levant ainsi un produit brut total de 5 millions de dollars US. Chaque unit茅 comprend une action ordinaire et un bon de souscription, exer莽able 脿 0,355 CAD par action jusqu'au 5 ao没t 2028.
La soci茅t茅 a 茅galement obtenu l'approbation de la TSXV pour des modifications des bons de souscription 茅mis lors de plusieurs placements priv茅s avec Encompass et EV Metals, prolongeant leur date d'expiration au 5 ao没t 2028. Les fonds seront utilis茅s pour pr茅parer l'usine modulaire d'extraction directe de lithium (MDLE Plant) d'IBAT et pour des besoins g茅n茅raux de l'entreprise.
Les titres sont soumis 脿 une p茅riode de blocage l茅gale de quatre mois et ont 茅t茅 vendus dans le cadre d'un placement priv茅 conform茅ment au r猫glement D du Securities Act.
International Battery Metals (OTCQB:IBATF) hat seine zuvor angek眉ndigte Privatplatzierungsfinanzierung mit Encompass Capital Advisors LLC abgeschlossen. Das Unternehmen emittierte 25.765.259 Einheiten zu je 0,19406 US-Dollar und erzielte damit Bruttoerl枚se von 5 Millionen US-Dollar. Jede Einheit besteht aus einer Stammaktie und einem Kaufwarrant, der bis zum 5. August 2028 zum Preis von 0,355 CAD pro Aktie ausge眉bt werden kann.
Das Unternehmen erhielt au脽erdem die Genehmigung der TSXV f眉r 脛nderungen an zuvor ausgegebenen Warrants aus mehreren Privatplatzierungen mit Encompass und EV Metals, wodurch deren Laufzeit bis zum 5. August 2028 verl盲ngert wurde. Die Erl枚se werden f眉r die Vorbereitung der modularen Direkt-Lithium-Extraktionsanlage (MDLE-Anlage) von IBAT sowie f眉r allgemeine Unternehmenszwecke verwendet.
Die Wertpapiere unterliegen einer gesetzlichen Sperrfrist von vier Monaten und wurden im Rahmen einer Privatplatzierung gem盲脽 Regulation D des Securities Act verkauft.
- Successful raise of US$5 million in gross proceeds through private placement
- Strategic investment from institutional investor Encompass Capital Advisors
- Proceeds will advance MDLE Plant development
- Extension of warrant expiration dates provides longer-term financing flexibility
- Significant dilution through issuance of 25.7 million new units
- Multiple warrant amendments could lead to additional future dilution
- Securities subject to four-month hold period limiting immediate liquidity
Each Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one Common Share (each, a "Warrant Share") at an exercise price equal to
The proceeds from the Offering will be used for preparing IBAT's modular direct lithium extraction plant ("MDLE Plant") for future operations and general corporate purposes.
The securities issued under the Offering are subject to a statutory hold period of four months and one day from the date of issuance under Canadian Securities laws.
The offer and sale of the Units were made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or applicable state securities laws, and have been sold in a private placement pursuant to Regulation D of the Securities Act. The securities issued in the private placement may not be offered or sold in
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer or sale would be unlawful prior to the registration or qualification under the securities laws of such state.听
In addition, the Company has received the approval from the TSXV for the following previously announced amendments to certain warrants issued under the following private placements with Encompass and EV Metals (the "Warrant Amendments"):
Private Placement | Warrants Issued | Amendments |
Private Placement with Encompass on April 21, 2023 | 6,396,999 warrants issued pursuant to a private placement of units of the Company, with each warrant entitling the holder thereof to purchase one Common Share at a price of | Extend the expiration date of the warrants under such private placement to April 21, 2028. Amend each warrant certificate by adding certain restrictions that limit Encompass from becoming a control person as defined under the Securities Act ( |
Private Placement with EV Metals on February 29, 2024 | 2,702,400 warrants issued pursuant to a private placement of units of the Company, with each warrant entitling the holder thereof to purchase one Common Share at a price of | Extend the expiration date of the warrants under such private placement to the same expiration date of the Warrants issued in the Offering, which is August 5, 2028. |
Private Placement with Encompass and EV Metals on May 3, 2024 | 18,642,134 warrants issued pursuant to a private placement of units of the Company, with each warrant entitling the holder thereof to purchase one Common Share at a price of | Extend the expiration date of the warrants under such private placement to the same expiration date of the Warrants issued in the Offering, which is August 5, 2028. 听 With respect to the warrants held by Encompass, amend the respective warrant certificates by adding certain restrictions that limit Encompass from becoming a control person as defined under the Securities Act ( |
Private Placement with Encompass and EV Metals on June 19, 2024 | 11,478,246 warrants issued pursuant to a private placement of units of the Company, with each warrant entitling the holder thereof to purchase one Common Share at a price of | Extend the expiration date of the warrants under such private placement to the same expiration date of the Warrants issued in the Offering, which is August 5, 2028. 听 With respect to the warrants held by Encompass, amend the respective warrant certificates by adding certain restrictions that limit Encompass from becoming a control person as defined under the Securities Act ( |
MI 61-101 Disclosure
The participation by Encompass in the Offering and the Warrant Amendments of the warrants held by Encompass and EV Metals constitute "related party transactions" for the purposes of Multilateral Instrument 61-101 鈥� Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements for the Related Party Transactions available under MI 61-101. The Company is exempt from the formal valuation requirement in section 5.4 of MI 61-101 in reliance on section 5.5(a) of MI 61-101 and from minority shareholder approval in section 5.6 of MI 61-101 in reliance on section 5.7(1)(a) of MI 61-101, as the fair market value of the Offering and the Warrant Amendments, insofar as it involves related parties, is not more than
About International Battery Metals Ltd.
The Company's direct lithium extraction technology is based on proprietary lithium extraction media housed in patented extraction towers that are enclosed in a modular, shippable platform able to be loaded and brought into production within a minimal time frame after arrival on a customer site. Utilizing the patented technology, the Company's focus has been on advanced extraction of lithium chloride from ground water salt brine deposits and returning the same water to the subsurface aquifer. The Company's unique patented technology ensures faster delivery of lithium chloride while ensuring minimal environmental impact.
ON BEHALF OF THE BOARD
"Joseph Mills"
Joseph Mills, CEO
(832) 683-8839
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain information that may constitute "forward-looking statements" under applicable Canadian securities legislation. These forward-looking statements include, but are not limited to, statements relating to the use of proceeds in connection with the Offering. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward-looking statements".
Actual results may vary from forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause IBAT's actual results, performance, achievements, and future events to be materially different from the results, performance, achievement, or future events expressed or implied therein. Factors that could affect the outcome include, among others: future prices and the supply of metals, the future demand for metals, inability to raise the money necessary to incur the expenditures required to advance the Company's business strategies and objectives, general business, economic, competitive, political, and social uncertainties, results relating to its extraction technologies, failure to obtain regulatory or shareholder approvals (if required). IBAT believes that the expectations reflected in these forward-looking statements are reasonable, however there can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking statements.
All forward-looking statements contained in this press release are given as of the date hereof and are based upon the opinions and estimates of management and information available to management as at the date hereof. IBAT disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by law.
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