November 2, 2020- International Battery Metals Ltd. (the “Company”) (CSE: “IBAT”) announces that subject to regulatory approval, its board of directors have approved a private placement with EVL Holdings, LLC (“EVL”) of 25,000,000 common shares at a price of $0.10 for proceeds of $2,500,000..
The securities issued under the private placement will be subject to a statutory hold period of four months from the date of issuance and will also be restricted securities under the United States Securities Act of 1933. The proceeds will be used to continue fabrication of the Company’s first lithium extraction unit and for general corporate purposes.
Forward‐looking and cautionary statements
This release may contain certain forward‐looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of the Company with respect to the same. By their nature, forward‐looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward‐looking statements.