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International Battery Metals Announces Engagement of Novak Druce Carroll, LLP
VANCOUVER, BC and HOUSTON, Sept. 21, 2023 /CNW/ - International Battery Metals Ltd. (the "Company" ) is pleased to announce that it has entered into an engageme
About this update from International Battery Metals Ltd
[{"type":"text","content":" VANCOUVER, BC and HOUSTON, Sept. 21, 2023 /CNW/ - International Battery Metals Ltd. (the \"Company\" ) is pleased to announce that it has entered into an engagement agreement with Novak Druce Carroll, LLP, (\"Novak LLP\") (the \"Engagement Agreement\"). Novak LLP is a law firm operating out of the State of Texas, which offers unique services related to intellectual property and patent protection. Pursuant to the terms of the Engagement Agreement, Novak LLP will assist the Company with the further development and enhancement of its intellectual property and patented protected Modular Direct Lithium Extraction unit. As payment for these services, the Company has agreed to issue 400,000 common shares to Novak LLP at a deemed issue price per common share of CAD$1.195 (the \"Share Issuance), as well as to pay USD$200,000 as an earned fee for general intellectual property services. In accordance with the Share Issuance, the Company is also filing with the Canadian Securities Exchange a Form 9 – Notice of Proposed Issuance. About the Company The Company's direct lithium extraction technology is based on proprietary lithium extraction housed in patented extraction towers that are enclosed in a modular, shippable platform able to be loaded and brought into production within 10 days of 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 from which it is extracted. The Company' unique patented technology ensures faster delivery of lithium chloride while ensuring minimal environmental impact. ON BEHALF OF THE BOARD \"Garry Flowers\" Garry Flowers, CEO Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements. Forward‐looki...