An announcement from International Battery Metals ( (TSE:IBAT) ) is now available.
International Battery Metals Ltd. has announced a binding term sheet for a non-brokered private placement financing with EV Metals VII LLC, an insider controlled by director Jacob Warnock. The company plans to issue up to US$15 million in units over 12 months, with each unit comprising one common share and one purchase warrant. The initial closing is expected by March 31, 2025, with proceeds aimed at preparing the company’s modular direct lithium extraction plant for future operations and general corporate purposes. This financing move is significant for IBAT as it supports the company’s strategic focus on advancing its lithium extraction technology, potentially strengthening its market position in the energy sector.
More about International Battery Metals
International Battery Metals Ltd. operates in the energy sector, focusing on the development and commercialization of advanced lithium extraction technologies. The company is primarily engaged in creating modular direct lithium extraction plants, which are designed to enhance the efficiency and sustainability of lithium production.
YTD Price Performance: -30.04%
Average Trading Volume: 65,943
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $85.72M
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