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NEO Battery Materials Announces Incentive Stock Options to Engineering Team & Plans to Fortify Technology Expertise Talent Pool
Granted 1,300,000 Incentive Stock Options to Researchers and Commercialization Engineers at Exercise Price of $0.40 Based on Milestone Contracts with Global Bat
About this update from Neo Battery Materials Ltd
[{"type":"text","content":" Granted 1,300,000 Incentive Stock Options to Researchers and Commercialization Engineers at Exercise Price of $0.40 Based on Milestone Contracts with Global Battery Industry Players, Options Will Follow an Accelerated Vesting Schedule Plans to Appoint Chief Technology Officer and PhD-Level Engineer to Support Optimization & Prepare for Collaborative Work with NDA Partners Improve Silicon Anode Performance and On-Track with Commercialization Timeline VANCOUVER, British Columbia, Feb. 15, 2023 (GLOBE NEWSWIRE) -- NEO Battery Materials Ltd. (TSXV: NBM) (OTCQB: NBMFF) (“NEO” or the “Company”), a low-cost silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries, is pleased to announce that the Company has granted incentive stock options (“Options”) to researchers and commercialization engineers to acquire an aggregate of 1,300,000 common shares. Subject to the terms of the option agreement, all Options were granted at an exercise price of $0.40 and pursuant to the Company’s stock option plan. Based on milestone contracts and transactions with global firms in the battery industry, the Options will follow an Accelerated Vesting Schedule in which the Options will vest over 3 years. The Company soon plans to include additional available incentives. Updates: Fortifying NEO’s Engineering Team & Technological Talent Pool NEO is pleased to announce that Dr. Min Kim has been promoted to R&D Team Manager from his Senior Research Engineer role. This promotion is based on Dr. Kim’s performance in the optimization progress of NEO’s silicon anode along with junior and senior research engineers. The Company furthermore plans to shortly announce the addition of technological expertise and manpower by appointing a Chief Technology Officer and a PhD-level Senior Research Engineer. At the current stage of development, fortifying NEO’s talent pool and human capital is essential to accelerate optimization work through continuous feedback and to prepare more planned collaboration work with NDA partners. Mr. Spencer Huh, President and CEO of NEO, commented, “The work of both our R&D research and commercialization engineering team has been remarkable. NEO’s silicon anode material, NBMSiDE™, is making considerable strides as global NDA testing partners have commented highly on the performance improv...