International Battery Metals Ltd. (IBAT) has announced a marketed private placement offering aimed to raise up to US$15 million. The company reaches an agreement with Stifel Canada and BMO Capital Markets as co-lead agents, each Unit priced at C$1.00.

Offering Details

The Units include one Common Share and one Warrant, with the Warrant allowing purchase of a Warrant Share at C$1.25 for 2 years post-Closing Date. The Agents’ Option may increase the offering by 15%, exercised up to 48 hours before the Offering closes.

Use of Proceeds

The net proceeds will commence North America’s first commercial direct lithium extraction project, improve lithium extraction technology, and support working capital and general corporate purposes.

Closing and Approvals

The Offering’s closing is contingent upon mutually agreed terms between IBAT and the Co-Lead Agents, satisfying regulatory approvals, including the CSE’s nod.

About International Battery Metals

The proprietary lithium extraction technology of IBAT is based on patented towers able to start production within 10 days of reaching a customer site. The technology ensures a rapid provision of lithium chloride with a minimal environmental footprint.

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