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INTERNATIONAL BATTERY METALS LTD. ANNOUNCES EXPECTED SUBSEQUENT CLOSING FOR NON-BROKERED PRIVATE PLACEMENT FINANCING
INTERNATIONAL BATTERY METALS LTD. ANNOUNCES EXPECTED SUBSEQUENT CLOSING FOR NON-BROKERED PRIVATE ...
About this update from International Battery Metals Ltd
[{"type":"text","content":"\n\n\n\n INTERNATIONAL BATTERY METALS LTD. ANNOUNCES EXPECTED SUBSEQUENT CLOSING FOR NON-BROKERED PRIVATE PLACEMENT FINANCING\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO\n \n THE UNITED STATES\n \n /\n \n\n\n\n VANCOUVER, BC\n \n and\n \n PLANO, Texas\n \n\n ,\n \n\n April 4, 2025\n \n\n /CNW/ - International Battery Metals Ltd. (\"\n \n IBAT\n \n \" or the \"\n \n Company\n \n \") (TSXV: IBAT) is pleased to announce that it intends to complete a subsequent closing (the \"\n \n Subsequent Closing\n \n \") of its previously announced private placement (the \"\n \n Private Placement\n \n \").\n \n\n\n\n\n\n\n\n\n Pursuant to the Private Placement, the Company has agreed to issue up to\n \n US$15 million\n \n in units of the Company (the \"\n \n Units\n \n \") in one or more tranches for a period of 12 months. The Company completed the initial closing of the Private Placement with EV Metals 7 LLC and EV Metals VI LLC, in which it issued 26,084,454 units of the Company (\"\n \n Units\n \n \") at a price of\n \n C$0.4168\n \n per Unit, for gross proceeds of\n \n USD$7,550,000\n \n (the \"\n \n Initial Closing\n \n \"). Each Unit consists of one common share in the capital of the Company (a \"\n \n Common Share\n \n \") and one Common Share purchase warrant (a \"\n \n Warrant\n \n \"). Each Warrant entitles the holder to acquire one additional Common Share (each, a \"\n \n Warrant Share\n \n \") at an exercise price of\n \n C$0.51\n \n per Warrant Share, until\n \n March 31, 2029\n \n .\n \n\n The Company expects that the Subsequent Closing to complete prior to\n \n April 17, 2025\n \n and the price per Unit and exercise price of the Warrants in the Subsequent Closing will remain the same as the Initial Closing. Under the Subsequent Closing, EV Metals 7 LLC, an entity under the control of\n \n Jacob Warnock\n \n , has agreed to purchase\n \n US$679,000\n \n of Units and based on ...