INTERNATIONAL BATTERY METALS LTD. ANNOUNCES INITIAL CLOSING FOR NON-BROKERED PRIVATE PLACEMENT FINANCING
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VANCOUVER, BC and HOUSTON, March 31, 2025 – International Battery Metals Ltd. (“IBAT” or the “Company”) (TSXV: IBAT) has successfully completed its previously announced initial private placement financing in collaboration with EV Metals 7 LLC and EV Metals VI LLC. This funding round resulted in the issuance of 26,084,454 units at C$0.4168 each, generating gross proceeds of approximately USD$7.55 million (the “Initial Closing”).
Each unit comprises one common share of the Company and a purchase warrant, allowing holders to acquire an additional common share at an exercise price of C$0.51 until March 31, 2029. These funds will be allocated primarily toward advancing the preparations for IBAT’s modular direct lithium extraction plant (“MDLE Plant”) as well as for general corporate purposes. This Initial Closing represents the first step in a broader funding initiative targeting a total of up to USD$15 million, as outlined in a binding term sheet with EV Metals (the “Private Placement Offering”).
In conjunction with this financing, the Company has amended its investor rights agreement with EV Metals, allowing for the Board of Directors to potentially expand to six or more members. Notably, EV Metals retains the right to approve an additional independent director in scenarios where the board expands, provided they maintain at least 5% ownership of the outstanding common shares.
Furthermore, a financing structuring fee of USD$377,500, amounting to 5% of the total gross proceeds from the Initial Closing, was paid to Jacob Warnock, further solidifying the financial structuring aspects of the deal.
All securities issued are subject to a statutory hold period of four months in accordance with Canadian Securities laws and will be categorized as restricted securities under the United States Securities Act of 1933.
About International Battery Metals Ltd.
International Battery Metals leverages advanced proprietary technology for direct lithium extraction, employing unique extraction media packed into patented towers that facilitate rapid deployment and operational efficiency. This innovative approach focuses on the environmentally friendly extraction of lithium chloride from brine resources while ensuring that the aquifer is preserved, demonstrating a commitment to a sustainable future.
ON BEHALF OF THE BOARD
“Iris Jancik”
Iris Jancik, CEO
Neither the TSXV nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This release includes “forward-looking statements” that, while based on current management assumptions and estimates, may include projections regarding the use of proceeds and future efforts related to the Private Placement Offering. However, actual outcomes could differ significantly due to a variety of risks and uncertainties, including market dynamics, regulatory challenges, or operational setbacks. IBAT encourages readers to consider these factors and does not assume any obligation to update any forward-looking statements unless required by law.
SOURCE International Battery Metals Ltd.
FOR MEDIA INQUIRIES: Contact: [email protected]/ 713-724-3627
