Business
International Battery Metals Offers Warrant Exercise Incentive
Vancouver, British Columbia--(Newsfile Corp. - March 27, 2018) - International Battery Metals Ltd. (CSE: IBAT) ("IBAT" or the "Company") announces today that it
About this update from International Battery Metals Ltd
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - March 27, 2018) - International Battery Metals Ltd. (CSE: IBAT) (\"IBAT\" or the \"Company\") announces today that it intends to apply for a warrant exercise incentive program (the \"Incentive Program\") with the Canadian Securities Exchange (the \"CSE\"). As announced in its news releases dated August 28, 2017 and October 17, 2017, the Company completed private placement offerings of 675,000 and 4,324,300 Units, respectively. Each Unit comprised of one (1) common share and one (1) share purchase warrant, where each warrant may be exercised to purchase an additional common share of the Company at $0.52 per warrant share for two (2) years from the date of issuance (the \"Placement Warrants\"). Under the proposed Incentive Program, if the Placement Warrants are exercised prior to 4:00 pm (Vancouver time) on May 16, 2018 (the \"Incentive Period\"), the Placement Warrant holder will receive one (1) additional warrant (an \"Incentive Warrant\") in consideration of the early exercise of each Placement Warrant. Each Incentive Warrant will be exercisable to acquire one (1) common share of the Company at a price of $0.75 per share for a period of two (2) years from the date of issuance. The Company believes this will give existing Placement Warrant holders the right incentive to exercise their Placement Warrants. In the event a Placement Warrant holder determines not to participate in the Incentive Program, then following the expiry of the Incentive Period, the Placement Warrant holder may exercise Placement Warrants on their original terms. An estimated 4,999,300 Placement Warrants are available to be exercised during the Incentive Period under the Incentive Program, which is subject to the approval of the Canadian Securities Exchange (\"CSE\"). The Company will also apply to the CSE to list the Placement Warrants. There are no guarantees of CSE approval, and the Company will provide investors an update once it receives a decision from the CSE. Further details on the manner by which Placement Warrant holders may exercise their Placement Warrants under the Incentive Program will be provided once CSE approval is granted. ON BEHALF OF THE BOARD \"Logan Anderson\" Logan Anderson, CEO and Director Tel: (604) 616-6754 Forward-looking statements This release may contain certain forward-looking st...