Business
International Battery Metals Announces Closing of Previously Announced Third Follow-On Investment From EV Metals 9 LLC, Adding USD $2.0 Million Under Existing LOI
VANCOUVER, British Columbia & HOUSTON, February 23, 2026--International Battery Metals Ltd. ("IBAT" or the "Company") (TSXV: IBAT) & (OTCQB: IBATF), an advanced technology provider of modular direct lithium extraction (DLE) systems, today announced the closing of its previously announced non-brokered private placement financing (the "Offering"), marking the third follow-on investment under the Company’s previously disclosed binding Letter of Intent ("LOI") with EV Metals VII LLC ("EV Metals") da
About this update from International Battery Metals Ltd
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":327,"url":"https://media.zenfs.com/en/business-wire.com/03f2a3a565dc72326c5a59c1448ed3df"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/qnb_UCe_Jn3XBMdPBbjKoA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTU3NjtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/03f2a3a565dc72326c5a59c1448ed3df","width":400,"height":327}},"lazy":false},{"type":"text","content":"VANCOUVER, British Columbia & HOUSTON, February 23, 2026--(BUSINESS WIRE)--International Battery Metals Ltd. ("IBAT" or the "Company") (TSXV: IBAT) & (OTCQB: IBATF), an advanced technology provider of modular direct lithium extraction (DLE) systems, today announced the closing of its previously announced non-brokered private placement financing (the "Offering"), marking the third follow-on investment under the Company’s previously disclosed binding Letter of Intent ("LOI") with EV Metals VII LLC ("EV Metals") dated February 28, 2025.","length":597,"tagName":"p"},{"type":"text","content":"In connection with the Offering, the Company issued an aggregate of 26,427,053 units (the "Units") to EV Metals, with each Unit being comprised of one IBAT common share and one warrant (each, a "Warrant") to purchase one IBAT common share and was priced at USD $0.08 per Unit, for total gross proceeds of USD $2.0 million, which is based on an issue price of C$0.104 for aggregate gross proceeds of C$2,735,200 using the Bank of Canada exchange rate of US$1.00 to C$1.3676 as of February 5, 2026. Each Warrant will entitle the holder to purchase one IBAT common share at a price of C$0.14 per IBAT share for a period of four years from the date of issuance.","length":677,"tagName":"p"},{"type":"text","content":"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.","length":164,"tagName":"p"},{"type":"text","content":"In accordance with the LOI, IBAT paid Jacob Warnock a cash structuring fee equal to 5% of the gross proceeds of the Units subscribed for by the EV Metals affiliates in connection with the Offering.","length":197,"tagName":"p"},{"type":"text","content":"The U...