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International Battery Metals ( (TSE:IBAT) ) has issued an announcement.
International Battery Metals Ltd. has successfully closed a non-brokered private placement financing, raising approximately US$5 million. The funds will be utilized to prepare the company’s modular direct lithium extraction plant for future operations and for general corporate purposes. Additionally, the company has received approval to amend certain warrants, extending their expiration dates and imposing restrictions to prevent Encompass from becoming a control person. These strategic financial moves are expected to bolster IBAT’s operational capabilities and strengthen its position in the lithium extraction market.
More about International Battery Metals
International Battery Metals Ltd. operates in the energy sector, focusing on the development of modular direct lithium extraction plants. The company is involved in the production of lithium, a critical component for battery manufacturing, and aims to enhance its market position in the growing lithium industry.
Average Trading Volume: 31,858
Technical Sentiment Signal: Sell
Current Market Cap: C$84.11M
See more data about IBAT stock on TipRanks’ Stock Analysis page.