International Battery Metals Raises Additional $2 Million from EV Metals, Boosting Insider Stake

The latest update is out from International Battery Metals ( (TSE:IBAT) ).

International Battery Metals has secured a third follow-on investment of USD $2.0 million from insider EV Metals VII LLC under an existing letter of intent, bringing total funding under the arrangement to USD $12.2 million. The non-brokered private placement, priced at USD $0.08 per unit and including four-year warrants, is expected to close later in February subject to TSX Venture Exchange approval, with proceeds earmarked for general corporate purposes and the continued deployment of IBAT’s next-generation modular DLE technology. The transaction, which includes a 5% structuring fee to director Jacob Warnock and relies on related-party exemptions under Canadian securities rules, will significantly increase EV Metals’ ownership to an expected 48.57% on a partially diluted basis, further consolidating insider control while providing the company with additional capital to advance its operations.

More about International Battery Metals

International Battery Metals Ltd. is an advanced technology company specializing in modular direct lithium extraction (DLE) systems. Its proprietary technology uses patented extraction media housed in skid-mounted, transportable columns designed to be rapidly deployed and commissioned, targeting efficient lithium recovery for the growing battery and electric vehicle markets.

Average Trading Volume: 65,871

Technical Sentiment Signal: Sell

Current Market Cap: C$42.74M

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