aVANCOUVER, British Columbia, Canada- June 18, 2020- International Battery Metals Ltd. (the “Company”) (CSE: “IBAT”) announces it has approved a proposed private placement of 600,000 units at a price of $0.10 per unit for total proceeds of $60,000.
Each unit will consist of one common share of the Company and one non-transferable share purchase warrant. Each warrant will be exercisable to purchase an additional common share at a price of $0.10 per share for a period of three years from closing of the private placement. Officers of the Company will participate in the private placement. The proceeds will be used to pay accounts payable.
IBAT is an advanced technology company focused on lithium brine extraction. The company is in the process of creating and applying intellectual property related to lithium extraction from brines. IBAT’s unique extraction process is environmentally friendly, low cost, and has the potential to produce high quality, commercial grade lithium at a much faster rate than the current industry standards.
Forward‐looking and cautionary statements
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release may contain statements within the meaning of safe harbour provisions as defined under securities laws and regulations. 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.