International Battery Metals Announces Closing of Previously Announced Second Follow-On Investment From EV Metals, Adding USD $2.0 Million Under Existing LOI

Executive Summary

• International Battery Metals Ltd. closed a second follow‑on private placement with EV Metals, issuing 12,464,000 units at US $0.16 per unit for gross proceeds of US $2.0 million (C$2.804 M).
• Each unit consists of one common share and one warrant to purchase an additional share at C$0.30 exercisable for four years.
• Proceeds will be used for general corporate purposes, primarily advancing the company’s next‑generation modular DLE technology.

Key Details

• Units Issued: 12,464,000 (each = 1 common share + 1 warrant).
• Pricing: US $0.16 per unit; equivalent to C$0.225 per unit using USD/CAD 1.402 exchange rate (Oct 21 2025).
• Gross Proceeds: US $2.0 million (C$2,804,400).
• Warrant Terms: Right to purchase one IBAT common share at C$0.30 per share; exercisable for four years from issuance date.
• Use of Proceeds: General corporate purposes, including further deployment of modular DLE technology.
• Structuring Fee: 5 % of gross proceeds paid in cash to Jacob Warnock for structuring the transaction.
• Restriction Period: Securities restricted from trading until March 1 2026 under Canadian securities laws; considered “restricted securities” under U.S. law.
• Related Party Disclosure (MI 61‑101): Transaction qualifies for exemption; fair market value ≤ 25 % of market cap, no minority shareholder approval required.
• Ownership Impact – Pre‑Closing: EV Metals and affiliates controlled 70,435,051 IBAT common shares, 47,535,130 warrants, and 2,000,000 third‑party warrants (≈34.83 % diluted ownership).
• Ownership Impact – Post‑Closing: Ownership rises to 82,899,051 common shares, 59,999,130 purchase warrants, and 2,000,000 third‑party warrants (≈38.97 % diluted ownership).
• Investor Contact: Jacob Warnock ([email protected]); EV Metals address: 1 Calle Cervantes #5 San Juan PR 00907.

Notable Quotes

(No executive quotes were included in the release.)