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NEO Battery Announces Non-Brokered Private Placement Offering
NEO Battery Announces Non-Brokered Private Placement Offering Canada NewsWire TOR...
About this update from Neo Battery Materials Ltd
[{"type":"text","content":"\n\n\nNEO Battery Announces Non-Brokered Private Placement Offering\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\nCanada NewsWire\n\n\nTORONTO, Jan. 16, 2026 /CNW/ - NEO Battery Materials Ltd. (\"NEO\" or the \"Company\") (TSXV: NBM) (OTC: NBMFF), a low-cost, silicon-enhanced battery developer that enables longer-running, rapid-charging batteries for drones, robotics, and electronics, is pleased to announce a non-brokered private placement (the \"Offering\") of up to approximately 11,666,667 units (each, a \"Unit\") at a price of $0.60 CAD per Unit for aggregate gross proceeds of up to approximately $7 million CAD.\n\n\n\n\n\n\n\nEach Unit consists of one common share of the Company (each, a \"Common Share\") and one non-transferable Common Share purchase warrant (each, a \"Warrant\"). Each whole Warrant will be exercisable to acquire one Common Share of the Company at an exercise price of $0.85 CAD for a period of 36 months from the closing date of the Offering. The Company may compensate certain eligible finders under the Offering and may pay a cash commission of up to 6% of the gross proceeds and issue such a number of finder's options of up to 6% of the total number of Units issued.\nThe net proceeds of the Offering are intended to be used towards (i) installing additional battery manufacturing equipment, including formation and cylindrical/prismatic cell assembly, at the operational Gimje battery factory and the expansion site and (ii) general working capital purposes.\nThe Units under the Offering are being offered to purchasers outside of Canada pursuant to an exemption from the prospectus requirement available under Section 2.3 of Ontario Securities Commission Rule 72-503 – Distributions Outside Canada (\"OSC 72-503\"), and accordingly, the securities issued pursuant to OSC 72-503 will not be subject to resale restrictions. The Offering is not a Related Party Transaction as defined by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (\...