vancouver british columbiaand houston, January 29, 2024 /CNW/ – international battery metal (“IBAT” or “we”) (CSE: IBAT) is pleased to announce that it has entered into an agreement with Stifel Canada and BMO Capital Markets as joint lead agents and joint bookrunners (“co-lead agent“), in connection with the proposed best-effort private placement sale of our units.”unit“) Total revenue to our company is up to approx. 15 million USD at the price of CAD 1.00 per unit (“Recruitment“).
Each unit consists of one common share of the capital of the Company (“common stock“) and one transferable common share warrant (“warrantEach subscription right shall entitle its holder to acquire one common share in the capital of the Company (each subscription right shall bewarrant share“) at the strike price of 1.25 Canadian dollars For each warrant share, until the date two years after the closing date.
We provide our distributors with options (“Agent options“) may increase the size of the Offering by an additional amount of up to 15% of the Units sold under the Offering, which may be exercised in whole or in part at any time and from time to time up to 48 hours prior to the closing of the Offering. .
Net proceeds from the offering will be used by the Company to commence its first commercial direct lithium extraction project. North Americato advance engineering on second-generation extraction technology and for working capital and general corporate purposes.
Closing of the offering will occur on a date mutually agreed upon by the Company and the joint lead agents and is subject to the satisfaction of certain conditions, including, without limitation, the receipt of all necessary regulatory and other approvals. . CSE Approval.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities listed below. US. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any other state securities laws, and may not be offered or sold under the United States Securities Act of 1933 (the “U.S. Securities Act”) or any other state securities laws. you can't. US Unless registered under the U.S. Securities Act and applicable state securities laws, or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act), or except in cases where an exemption from registration is available.
About International Battery Metals
The company's direct lithium extraction technology is based on proprietary lithium extraction housed in a patented extraction tower, into a modular, shippable platform that can be loaded and produced within 10 days of arrival at a customer site. It is included. The company focuses on utilizing patented technology to highly extract lithium chloride from saline groundwater deposits and returning that same water to the underground aquifers from which it was extracted. The company's unique patented technology ensures faster supply of lithium chloride with minimal environmental impact.
Forward-looking statements
This press release contains certain information that may constitute “forward-looking information” under applicable Canadian securities laws. This forward-looking information includes, but is not limited to, statements regarding the size, price, securities being offered and other terms of the offering, the closing of the offering, and the use of proceeds related to the offering. Forward-looking statements involve known and unknown risks, uncertainties, and statements that reflect IBAT's actual results, performance, achievements and future events, whether expressed or implied therein. There are other factors that could cause events to differ materially. Factors that could affect results include, among other things, future prices and supplies of metals, future demand for metals, and the inability to obtain the necessary funds to fund the expenditures necessary to advance our business strategies and objectives; and general business, economic, competitive, political and social uncertainties, consequences related to extraction technology, failure to obtain regulatory or stockholder approvals; There can be no assurance that such information will prove to be accurate, as actual results or future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is provided as of the date of this press release and reflects management's opinions and estimates and information available to management as of the date of this press release. Based on. IBAT disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of CSE) accepts responsibility for the adequacy or accuracy of this press release.
