Global Battery Metals (TSE:GBML) has released an update.
International Battery Metals Ltd. has successfully completed a strategic private placement, raising approximately CAD$8.8 million by issuing over 11 million units at CAD$0.76632 each, which includes a common share and a purchase warrant. The proceeds will fund the expansion of the Company’s modular lithium extraction plant to enhance production capacity. Major participants in the placement include EV Metals VI LLC and funds managed by Encompass Capital Advisors LLC, with a structuring fee paid in common shares to EV Metals.
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