NEO Battery Closes Upsized Non-Brokered Private Placement Offering of $5.5 Million
TORONTO, Sept. 29, 2025 (GLOBE NEWSWIRE) — 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 close its upsized non-brokered private placement (the “Offering”) through the issuance of 10,785,836 units (each, a “Unit”) at a price of $0.51 CAD per Unit for aggregate gross proceeds of approximately $5,500,000.
Each 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 $0.80 CAD for a period of 36 months from the closing date or until September 29, 2028.
The net proceeds of the Offering are expected to be allocated towards (i) securing the South Korean battery components and cell equipment and facilities to manufacture drone, unmanned aerial vehicle (UAV), and robotics batteries, (ii) purchases of scale-up equipment for silicon battery material development, and (iii) working capital and general corporate overhead. In connection with the Offering, the Company paid an aggregate cash commission of $203,806.77 to the eligible finders. The Offering is subject to final acceptance of the TSXV.
The Units under the Offering have been 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 (“MI 61-101”) and therefore is not subject to TSXV Policy 5.9.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities law, or an exemption from such registration requirements is available.
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NEO Battery Closes Upsized Non-Brokered Private Placement Offering of $5.5 Million, source
