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.