International Battery Metals Ltd. (the “Company” “IBAT”) (CSE: IBAT) (OTC: IBATF) (FSE: 8RE) announce that it has completed a placement financing of 3,333,333 units (each a “Unit”) for gross proceeds of US$10,000,000.
Each Unit consists of one common share of the Company valued at Cdn$3.83 and one share purchase warrant (each a “Warrant”), with each Warrant entitling the holder to purchase one additional common share for a period of two (2) years from the date of issue at an exercise price of Cdn$3.83 per share.
The proceeds of the Offering will be used for the finalization of fabrication, testing, and deployment of the Company’s first mobile lithium extraction unit to South America and also for general working capital.
The Company will pay an advisory fee of US$600,000.00 to Piper Sandler and Co.
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IBAT is an advanced technology company focused on ecological and ethical lithium brine extraction.
The company is applying its patented intellectual property into its first mobile lithium extraction unit that it expects to deploy to either Argentina or Chile this year.
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INTERNATIONAL BATTERY METALS LTD ANNOUNCES US$10,000,000 PRIVATE PLACEMENT, VANCOUVER, BC, February 24, 2022
