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International Battery Metals Ltd. develops modular direct lithium extraction systems for lithium chloride recovery from groundwater salt brine and produced water deposits. The company’s technology uses proprietary lithium extraction media in patented extraction columns housed in transportable, skid-mounted platforms.
News about IBATF commonly covers commercialization of its DLE systems, financial and operational results, brine-testing service activity, customer engagement, proposal development and investor presentations. Company updates also include private placement financings involving common-share and warrant units, capital-structure matters, governance changes and corporate development activity.
International Battery Metals (IBATF) has completed a significant private placement. The company issued 11,478,246 units at a price of CAD$0.76632 per unit, raising USD$6,430,772 (approx. CAD$8,796,010). Each unit includes one common share and one purchase warrant, allowing the holder to buy one common share for CAD$0.9579 within two years. Major participants were EV Metals VI and Encompass Capital Advisors A structuring fee of USD$237,500 was paid to EV Metals via 423,912 common shares. The funds will enhance the production capacity of the company's modular direct lithium extraction plant in the western US and provide general working capital. Securities from this placement are subject to a four-month hold period under Canadian law and are restricted under US law.
On May 31, 2024, International Battery Metals announced a subsequent closing of its strategic private placement. The company will issue at least 8,478,246 units at CAD$0.76632 per unit, raising approximately CAD$6,497,050 (USD$4.75 million). Each unit includes one common share and one common share purchase warrant, with warrants exercisable at CAD$0.9579 for two years. EV Metals VI , controlled by company director Jacob Warnock, will participate, and receive a structuring fee of USD$237,500 in common shares. Proceeds will fund the expansion of a lithium extraction plant in the western U.S. and general capital needs. The placement is subject to a statutory hold period of four months. The deal qualifies as a 'related party transaction' but meets exemptions under MI 61-101.
International Battery Metals has closed a strategic private placement, issuing 18,642,134 units with proceeds of USD$10,436,000. The company will use the funds for its modular direct lithium extraction plant and general working capital. EV Metals VI , a private company, received a structuring fee in connection with the placement. The company plans to complete additional private placements totaling up to USD$13,564,000. The participation of EV Metals constitutes a related party transaction. The company is focused on environmentally responsible lithium extraction methods and has patented a modular DLE plant.
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