Financial Wire

International Battery Metals Announces US$2.8 Million Private Placement Under EV Metals Agreement

-- International Battery Metals (IBAT.V) after trade on Thursday said it is raising US$2.8 million through a non-brokered private placement.

The company said it marks the fourth follow-on investment under its Feb. 28, 2025, binding letter of intent, for up to US$15 million with EV Metals.

The company will issue about 34.3-million units at US$0.08 each, with each unit including a share and a warrant.

"This latest investment follows multiple financings completed in calendar year 2025 and 2026, bringing total investment under the LOI to date to US$15 million," the company said.

The placement is expected to close around April 24 pending approval. Proceeds will be used for general corporate purposes as the company advances its modular lithium extraction technology, it said.

The company's shares closed down $0.005 to $0.14 in the TSX Venture Exchange.

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