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International Battery Metals Engages BMO Capital Markets as Financial Advisor
VANCOUVER, BC, Nov. 1, 2022 /CNW/ - International Battery Metals Ltd. (the "Company" or "IBAT") (CSE: IBAT) (FSE: 8RE) today announced that it has engaged BMO C
About this update from International Battery Metals Ltd
[{"type":"text","content":" VANCOUVER, BC, Nov. 1, 2022 /CNW/ - International Battery Metals Ltd. (the \"Company\" or \"IBAT\") (CSE: IBAT) (FSE: 8RE) today announced that it has engaged BMO Capital Markets (\"BMO\") as a financial advisor. BMO and Piper Sandler & Co. will jointly advise the Company on a range of commercial opportunities to position its mobile lithium extraction technology in the lithium industry, with a focus on deploying its current commercial-scale plant. The range of opportunities under consideration include commercial partnerships, joint ventures, as well as business combinations to acquire viable brine resources. The announcement follows an independent technical review of IBAT's commercial-scale mobile lithium extraction plant by global engineering firm SLR Consulting, which confirmed the patented technology can extract more than 65% of available lithium from brine, effectively strip out impurities and recycle and reuse more than 94% of water. As designed, this mobile lithium extraction plant has the potential to produce 5,000 metric tons of commercial-grade lithium chloride per year, on a lithium carbonate equivalent basis. Its economical, modular design allows the technology to be deployed more quickly, at far lower costs, than traditional lithium processing methods. Further, the modular design allows for IBAT's technology to be scaled up quickly to extract lithium from the world's largest resources. ON BEHALF OF THE BOARD \"Dr. John Burba\" Dr. John Burba, CEO & Director Tel: (832) 683-8839 About IBAT International Battery Metals (IBAT) is the first company in the world to successfully design, build and operate a mobile, Modular Direct Lithium Extraction (MDLE) plant at commercial scale with lithium brine. IBAT's patented extraction technology is proven to recover more lithium from brine than traditional methods, while offering a far superior environmental performance. IBAT's technology can be built, deployed and brought on-line in a fraction of the time, and at a fraction of the cost of traditional lithium mining models. Forward-looking and cautionary statements This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The secur...