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International Battery Metals Announces Closing of Previously Announced Second Follow-On Investment From EV Metals, Adding USD $2.0 Million Under Existing LOI
International Battery Metals Ltd. (“IBAT”) (TSXV: IBAT) & (OTCQB: IBATF), an ...
About this update from International Battery Metals Ltd
[{"type":"text","content":"International Battery Metals Announces Closing of Previously Announced Second Follow-On Investment From EV Metals, Adding USD $2.0 Million Under Existing LOI\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n\n International Battery Metals Ltd.\n \n (“IBAT”) (TSXV: IBAT) & (OTCQB: IBATF), an advanced technology provider of modular direct lithium extraction (DLE) systems, today announced the closing of its\n \n previously announced non-brokered private placement financing\n \n , marking the second follow-on investment under the Company’s previously announced binding Letter of Intent (“LOI”) with EV Metals 7 LLC (“EV Metals”) from March of 2025.\n \n\n The Company issued 12,464,000 units (the “Units”) to EV Metals. Each Unit is comprised of one IBAT common share and one warrant to purchase one IBAT common share (each, a “Warrant”) and was priced at USD $0.16 per Unit, for total gross proceeds of USD $2.0 million, which is based on an issue price of C$0.225 for aggregate gross proceeds of C$2,804,400 using the Bank of Canada US$1.00 to C$ exchange rate as of October 21, 2025 of US$1.00 to C$1.402 . Each Warrant will entitle the holder to purchase one IBAT common share at a price of C$0.30 per IBAT share for a period of four years from the date of issuance.\n \n\n Proceeds from the Offering will be used for general corporate purposes as the Company continues to advance deployment of its next-generation modular DLE technology.\n \n\n In accordance with the LOI, IBAT paid, in cash, Jacob Warnock a structuring fee equal to 5% of the gross proceeds subscribed for by the EV Metals affiliates in connection with the Offering.\n \n\n The securities issued under this Offering will be restricted from trading until March 1, 2026 under Canadian securities laws and will be considered restricted securities under the U.S. Securities Act of 1933.\n \n\n This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction where such an offer or sale would be unlawful. The securities have not been, and will not be, registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption.\n \n\n\n MI 61-101 Dis...