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International Battery Metals Secures Third Follow-on Investment From EV Metals VII, LLC, Adding USD $2.0 Million Under Existing LOI
International Battery Metals Ltd. (“IBAT” or the “Company”) (TSXV: ...
About this update from International Battery Metals Ltd
[{"type":"text","content":"International Battery Metals Secures Third Follow-on Investment From EV Metals VII, LLC, Adding USD $2.0 Million Under Existing LOI\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }\n \n\n\n\n\n International Battery Metals Ltd.\n \n (“IBAT” or the “Company”) (TSXV: IBAT) & (OTCQB: IBATF), an advanced technology provider of modular direct lithium extraction (DLE) systems, today announced a non-brokered private placement financing, marking the third follow-on investment under the Company’s previously announced binding Letter of Intent (“LOI”) from March 2025 for up to $15.0 million, with EV Metals VII LLC (“EV Metals”), an insider of the Company controlled by IBAT director Jacob Warnock.\n \n\n This latest investment follows the USD $10.2 million in financings completed in calendar year 2025, bringing total investment under the LOI to date to USD $12.2 million. Under the terms of the LOI, an affiliate of EV Metals has agreed to subscribe for an additional USD $2.0 million in units (“Units”) of the Company, representing an aggregate of 26,427,053 Units (collectively, the “Offering”).\n \n\n Each Unit will include one IBAT common share and one warrant (each, a “Warrant”) to purchase one IBAT common share and will be 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 US$1.00 to C$ exchange rate as of February 5, 2026 of US$1.00 to C$1.3676. Each Warrant will entitle the holder to purchase one additional IBAT common share at a price of C$0.14 per IBAT share for a period of four years from the date of issuance.\n \n\n The Offering is expected to close on or around February 23, 2026, pending approval from the TSX Venture Exchange (TSXV). 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.\n \n\n In accordance with the LOI, IBAT will also pay Jacob Warnock a structuring fee equal to 5% of the gross proceeds subscribed for by EV Metals affiliates in connection with the Offering, payable in cash at closing. The Units will be su...