Enah/Vasp-like

International Battery Metals Provides Supplement Information to Management Information Circular

Retrieved on: 
Thursday, April 8, 2021

Background to the Financing: In October and December 2020 the Company completed two private placements with Sorcia and EVL for $2.5M each.

Key Points: 
  • Background to the Financing: In October and December 2020 the Company completed two private placements with Sorcia and EVL for $2.5M each.
  • The funds raised were not enough to assemble and fabricate the Company's Mobile Lithium Extraction Unit.
  • The Company has only four directors which are all independent of Sorcia, EVL and Ensorcia Metals Corp. (which is the parent company of Sorcia).
  • Additionally, the price of the Financing is attractive and Sorcia and EVL agree to support the management of the Company and the Company's objectives.

International Battery Metals Ltd Announces Closing of Private Placement

Retrieved on: 
Tuesday, December 15, 2020

Vancouver, British Columbia--(Newsfile Corp. - December 15, 2020) - International Battery Metals Ltd.(CSE: IBAT)(the "Company")announces that it has closed its private placement with EVL Holdings, LLC ("EVL") as announced on November 2, 2020, of 25,000,000 common shares at a price of $0.10 for proceeds of $2,500,000.

Key Points: 
  • Vancouver, British Columbia--(Newsfile Corp. - December 15, 2020) - International Battery Metals Ltd.(CSE: IBAT)(the "Company")announces that it has closed its private placement with EVL Holdings, LLC ("EVL") as announced on November 2, 2020, of 25,000,000 common shares at a price of $0.10 for proceeds of $2,500,000.
  • EVL will directly control 25,000,000 common shares which is 21.94% of the 113,971,166 common shares that will be outstanding after completion of the private placement.
  • The securities issued under the private placement will have a hold period expiring four months and one day from the date of issuance pursuant to applicable Canadian securities laws and will also be subject to applicable US restrictions.
  • The proceeds will be used to continue fabrication of the Company's first lithium extraction unit and for general corporate purposes.