International Battery Metals Announces Change of Auditor
Rhea-AI Summary
International Battery Metals (OTCQB:IBATF) announced a change of auditor, dismissing CBIZ CPAs P.C. and appointing Grant Thornton LLP effective June 24, 2026, until the next annual shareholder meeting.
The company previously reported a material weakness in internal controls over capital asset capitalization for fiscal 2025, which it reports was remediated during fiscal 2026. No modified audit opinions or other reportable events were identified. Required change-of-auditor notices and response letters will be filed on SEDAR+.
Positive
- Material weakness in internal controls reported for fiscal 2025 was remediated during fiscal 2026
- No modified opinions were expressed by the former auditor in recent audit reports
Negative
- Previously identified material weakness in controls over capitalization and useful lives of capital assets during fiscal 2025
News Market Reaction – IBATF
In the Jul 1 session, IBATF declined 1.79%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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VANCOUVER, BC AND HOUSTON, TX / ACCESS Newswire / June 30, 2026 / International Battery Metals Ltd. ("IBAT" or the "Company") (TSXV:IBAT)(OTCQB:IBATF), an advanced technology provider of modular direct lithium extraction (DLE) systems, announces that it has changed its auditor from CBIZ CPAs P.C. (the "Former Auditor") to Grant Thornton LLP (the "Successor Auditor").
The Former Auditor was dismissed effective June 24, 2026. IBAT's board of directors appointed the Successor Auditor on June 24, 2026, to hold office until the next annual meeting of shareholders.
The Former Auditor has not expressed any modified opinion in its audit reports for the period commencing at the beginning of the Company's two most recently completed financial years and ending on the date of the dismissal.
During the fiscal year ended March 31, 2025, management identified a material weakness in the Company's internal control over financial reporting relating to the Company's failure to design or maintain sufficient controls over the capitalization of capital assets and the initial determination and reassessment of their useful lives. This material weakness was disclosed in the Company's Annual Report for the fiscal year ended March 31, 2025. The Company subsequently remediated this material weakness during the fiscal year ended March 31, 2026, as described in the Company's Annual Report for that year. CBIZ CPAs communicated this material weakness to the Audit Committee in accordance with applicable auditing standards.
Other than the reportable event described above, in the opinion of the Audit Committee and the Board, there are no other reportable events as defined in Section 4.11 of National Instrument 51-102 - Continuous Disclosure Obligations ("NI 51-102") in connection with this change of auditor.
The Company has sent the Notice of Change of Auditor to the Former Auditor and the Successor Auditor and has requested response letters from each pursuant to Section 4.11 of NI 51-102. If any such letters are not available at the time of this press release, they will be filed on SEDAR+ promptly upon receipt and will be available under the Company's profile.
About International Battery Metals Ltd.
IBAT's direct lithium extraction technology is based on proprietary lithium extraction media housed in patented extraction columns. The columns are enclosed in modular, transportable skid mounted platforms that can be transported and commissioned into production within a reasonably short time frame.
Utilizing the patented technology, the Company's focus has been on advancing extraction of lithium chloride from ground water salt brine and produced water deposits. The Company's unique patented technology ensures efficient delivery of lithium chloride while ensuring minimal environmental impact.
Investor Relations contact:
Brian Siegel, IRC, MBA
Senior Managing Director
Hayden IR
(346) 396-8696
brian@haydenir.com
Neither the TSXV, the OTCQB nor their respective Regulation Services Providers accept responsibility for the adequacy or accuracy of this news release.
SOURCE: International Battery Metals Ltd.
View the original press release on ACCESS Newswire