Neo Battery closes $5.5-million private placement

Executive Summary

• Neo Battery Materials Ltd. closed an upsized non‑brokered private placement of 10,785,836 units at C$0.51 per unit, raising approximately C$5.5 million in gross proceeds.
• Each unit includes one common share and one non‑transferable warrant exercisable at C$0.80 per share for up to 36 months (or until Sept. 29, 2028).
• Net proceeds will be used to secure South Korean battery components/equipment for drone/UAV/robotics batteries, purchase scale‑up equipment for silicon battery material development, and fund working capital/general corporate overhead.

Key Details

• Units Issued: 10,785,836 units (each = 1 common share + 1 non‑transferable warrant).
• Price per Unit: C$0.51, resulting in gross proceeds of ~C$5.5 million.
• Warrant Terms: Exercise price C$0.80 per share; exercisable for 36 months from closing or until Sept. 29, 2028.
• Commission Paid: $203,806.77 cash paid to eligible finders.
• Use of Proceeds:
• Secure South Korean battery components and cell equipment/facilities for drone, UAV, and robotics batteries.
• Purchase scale‑up equipment for silicon battery material development.
• Working capital and general corporate overhead.
• Regulatory Notes: Offering subject to final acceptance by the TSX Venture Exchange; units offered to non‑Canadian purchasers under OSC Rule 72‑503 exemption; not a related‑party transaction per MI 61‑101, thus not subject to TSX‑V Policy 5.9.

Notable Quotes

• No direct quotes were provided in the release.