International Battery Metals Ltd. files its annual report describing a pre-revenue, development-stage lithium extraction business built around proprietary modular direct lithium extraction (MDLE) plants. The company reports net income of $0.1 million for the year ended March 31, 2026 after a $3.5 million loss in 2025.
Its strategy is to commercialize an Initial MDLE Plant that produced about 25 metric tons of battery-grade lithium carbonate in a 2024 U.S. demonstration, then customize and deploy it with brine owners, requiring an estimated $2–$12 million of additional capital per deployment. At 400 ppm brine concentration, an optimized plant could reach roughly 2,000 metric tons of lithium chloride per year on a lithium carbonate equivalent basis.
The report emphasizes substantial risks: the company has no customer contracts, remains pre-revenue with a limited operating history, faces intense competition from other direct lithium extraction and traditional methods, and is highly exposed to lithium prices, regulatory regimes and access to brine resources. As of June 12, 2026, 377,601,682 common shares were outstanding and the non‑affiliate equity market value was $33.6 million as of September 30, 2025.
INTERNATIONAL BATTERY METALS LTD. SVP of Corporate Development James Garrett Galloway reported compensation-related equity activity. On June 15, 2026, he exercised 400,000 Restricted Share Units at an exercise price of $0.00 per unit, receiving 400,000 Common Shares held directly.
He continues to hold multiple grants of Performance Based Restricted Share Units (PBRSUs), each convertible into one common share upon meeting specified milestones. These PBRSUs include awards tied to deployment of two additional Direct Lithium Extraction plants, a successful listing on a major stock exchange, annualized EBITDA targets of $25 million and $50 million, and market capitalization targets of $750 million and $1.5 billion measured over a 60‑day volume weighted average trading price. The filing reflects equity incentives rather than open‑market buying or selling.
International Battery Metals Ltd. reported fourth quarter and full year fiscal 2026 results, highlighting progress in commercializing its modular direct lithium extraction technology. The company achieved full year revenue of $164 thousand, down from $871 thousand, all from service work on brine testing.
Despite an operating loss of ($13.5) million, a non‑cash $16.5 million gain from the change in fair value of warrant liability drove full year net income of $0.1 million, versus a ($3.5) million loss. Cash was $9.2 million as of March 31, 2026.
Operationally, IBAT emphasized real‑world test results: approximately 98% lithium recovery, 99+% contaminant rejection and more than 1,200 cycles on a single column with no degradation across brines from the Smackover formation, the Middle East and Argentina. Management is focused on securing one or more commercial deployments of its existing modular DLE plant.
International Battery Metals Ltd. filed a Form 8-K announcing plans to discuss its fourth quarter and full fiscal year 2026 results on a conference call and webcast. The fiscal year ended on March 31, 2026, and detailed financial results will be released beforehand.
The call is scheduled for Thursday, June 18, 2026 at 11:00 a.m. Eastern Time, with both North American toll-free and international dial-in options and a live webcast. A replay will be available through early July 2026, and investors can email questions in advance for management’s Q&A session.
International Battery Metals Ltd. Chief Financial Officer Michael A. Rutledge reported a mix of stock transactions. He exercised 450,000 Restricted Share Units into common shares at $0.0000 per share and sold 197,292 common shares at $0.0940 per share in an open-market transaction.
Following these moves, he directly holds 252,708 common shares. He also holds several performance-based restricted share unit awards that each represent the right to receive one common share, with vesting tied to milestones such as deploying two additional Direct Lithium Extraction plants, a successful listing on a major stock exchange, achieving annualized EBITDA targets of $25 million and $50 million, and reaching market capitalization thresholds of $750 million and $1.5 billion based on 60-day volume-weighted average trading price.
International Battery Metals Ltd. ownership disclosure: two related reporting persons jointly report beneficial ownership of common shares. Triomphe Partners LLC reports 18,568,831 shares (5.4%) and Ensorcia Metals Corp. reports 10,731,081 shares (3.1%) based on 343,033,509 shares outstanding as of the Issuer's Form 10-Q filed on February 25, 2026. The filing states shared voting and dispositive power for both entities and identifies Daniel Layton as the controlling manager. The filing is a Schedule 13G joint disclosure of passive/beneficial ownership.
INTERNATIONAL BATTERY METALS LTD. General Counsel Norma Linda Garcia reported updated equity holdings, highlighted by a new compensation grant of 500,000 Restricted Share Units (RSUs) on May 14, 2026. Each RSU represents a contingent right to receive one common share.
After this grant, she directly holds 33,333 common shares, previously granted RSUs covering 66,667 underlying common shares, and options over 400,000 common shares with a $0.365 exercise price expiring on February 12, 2030. The 500,000 new RSUs vest in three annual tranches from May 14, 2027 through May 14, 2029 under the company’s Amended and Restated Restricted Share Unit Plan, reflecting a multi‑year, stock‑based compensation award rather than an open‑market share purchase or sale.
WARNOCK JACOB AARON reported open-market purchase transactions in this Form 4 filing.
INTERNATIONAL BATTERY METALS LTD. insider filings show entities associated with Jacob Aaron Warnock making large additional investments in the company. On April 29, 2026, they acquired 34,315,465 Common Shares at $0.08 per share in an open‑market or private transaction and 34,315,465 Warrants that are immediately exercisable at an exercise price of $0.11 per share and expire on April 29, 2030.
After these transactions, indirect holdings reported total 143,100,443 Common Shares and 120,741,648 Warrants, while direct holdings were 541,126 Common Shares. The Warrants are held of record by entities such as EV Metals 9 LLC, and Warnock may be deemed to beneficially own the securities held by those entities but disclaims beneficial ownership except to the extent of his pecuniary interest.
EV Metals 9 LLC, a ten percent owner of INTERNATIONAL BATTERY METALS LTD., has filed an initial statement of beneficial ownership. The filing shows direct ownership of 26,427,053 Common Shares with no par value.
The LLC also holds Warrants that are immediately exercisable to acquire 26,427,053 additional Common Shares at an exercise price of $0.10 per share. This reflects a Canadian dollar exercise price of CAD$0.14, converted using a Bank of Canada rate of $1.00 to CAD$1.3689 as of February 23, 2026, with the Warrants expiring on February 23, 2030.
International Battery Metals Ltd. major investors filed Amendment No. 3 to their Schedule 13D, updating their stake and financing arrangements. Jacob Aaron Warnock now reports beneficial ownership of 264,383,217 Common Shares, representing 70.1% of the 377,348,974 shares calculated as outstanding.
Affiliated entities EV Metals VI, 7, 8 and 9 LLC together hold significant positions, including warrants from multiple private placements between February 2024 and April 2026 at exercise prices ranging from CAD$0.14 to CAD$1.25. The filing also describes investor rights, including board nomination rights and registration rights tied to a Form S-1 the company has agreed to pursue.