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International Battery Metals ( (TSE:IBAT) ) just unveiled an announcement.
International Battery Metals Ltd. has secured a second follow-on investment of USD $2.0 million from EV Metals under an existing Letter of Intent, bringing the total investment to USD $10.2 million. This investment will support the company’s efforts to advance its next-generation modular DLE technology, enhancing its position in the lithium extraction industry. The transaction involves issuing units comprising common shares and warrants, with the proceeds aimed at general corporate purposes. The deal highlights the strategic relationship with EV Metals, which is controlled by IBAT director Jacob Warnock, and reflects confidence in IBAT’s innovative technology.
More about International Battery Metals
International Battery Metals Ltd. (IBAT) is a company specializing in advanced technology for modular direct lithium extraction (DLE) systems. The company focuses on providing innovative solutions in the lithium extraction industry, which is crucial for the growing electric vehicle and renewable energy markets.
Average Trading Volume: 34,356
Technical Sentiment Signal: Sell
Current Market Cap: C$74.28M
Learn more about IBAT stock on TipRanks’ Stock Analysis page.