INTERNATIONAL BATTERY METALS LTD. ANNOUNCES EXPECTED SUBSEQUENT CLOSING FOR NON-BROKERED PRIVATE PLACEMENT FINANCING
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 05 2025
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Source: Yahoo Finance
Private Placement Announcement: International Battery Metals Ltd. (IBAT) plans to complete a subsequent closing of its private placement, aiming to raise up to US$15 million, following an initial closing that generated gross proceeds of USD$7.55 million by issuing units at C$0.4168 each.
Use of Proceeds and Related Transactions: The funds from the subsequent closing will be allocated for preparing IBAT's modular direct lithium extraction plant and general corporate purposes, with related party transactions involving EV Metals 7 LLC being approved under specific exemptions from formal valuation requirements.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
