Int'l Battery arranges $2M (U.S.) follow-on financing

Executive Summary

• International Battery Metals Ltd. secured a $2 million USD follow‑on private placement from EV Metals VII LLC, bringing total LOI‑related investment to $12.2 million USD.
• The units are priced at US $0.08 per unit (CAD $0.104), each consisting of one common share and one warrant exercisable at CAD $0.14 for four years; gross proceeds equal $2 million USD ($2.735 million CAD).
• Proceeds will be used for general corporate purposes to advance the company’s next‑generation modular direct lithium extraction (DLE) technology.

Key Details

• Financing Structure: Non‑brokered private placement of 26,427,053 units. Each unit = 1 International Battery common share + 1 warrant.
• Pricing: US $0.08 per unit; CAD $0.104 per unit (exchange rate $1 USD = $1.3676 CAD as of Feb 5 2026).
• Gross Proceeds: $2 million USD ($2,735,200 CAD).
• Warrant Terms: Right to purchase one additional common share at CAD $0.14 per share; exercisable for four years from issuance.
• Closing Date: Expected on or around Feb 23 2026, subject to TSX Venture Exchange approval.
• Use of Proceeds: General corporate purposes, primarily to fund deployment of modular DLE technology.
• Related Party Structuring Fee: 5 % of gross proceeds payable in cash to director Jacob Warnock at closing.
• Holding Period: Units subject to a four‑month‑plus‑one‑day hold period under Canadian securities laws; considered restricted securities under the U.S. Securities Act.
• Ownership Impact – Pre‑Closing: EV Metals & affiliates control 82,899,051 common shares and 59,999,130 warrants (≈37.95 % of diluted share base).
• Ownership Impact – Post‑Closing: Expected to control 109,326,204 common shares and 86,426,183 warrants (≈48.57 % of diluted share base).
• Regulatory Filings: Material change report to be filed within 21 days before closing; transactions approved unanimously by non‑interested directors.

Notable Quotes

(No direct quotes were provided in the release.)