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Brady plc (via Public) / The Battery Metals Boom – Meeting the Supply & Demand Challenge
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International Battery Metals Ltd Licensee Sorcia Minerals LLC Announces Salar de Maricunga Chile Acquisition
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International Battery Metals Ltd.: International Battery Metals Provides Supplement Information to Management Information Circular
International Battery Metals Ltd. (CSE: IBAT)
(the Company ) provides this news release to supplement information for the Special Meeting to be held April 19, 2021 whereby the Company is seeking shareholder approval for a private placement with Sorcia Minerals LLC ( Sorcia ) and EVL Holdings, LLC ( EVL ) at a price of $0.58 per unit (the Financing ).
Background to the Financing: In October and December 2020 the Company completed two private placements
with Sorcia and EVL for $2.5M each. Prior to these private placements the Company was struggling to raise funds in the lithium market. The funds raised were not enough to assemble and fabricate the Company s Mobile Lithium Extraction Unit. Sorcia and EVL proposed to the Company that they would do an additional private placement and in early 2021 they made a formal proposal to do a $10M private placemen
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