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looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of Company with respect to the same. The Company cannot be certain that it can meet its objectives as there are many factors known and unknown that may impede it, including but not limited to, the continued funding of the project. There is no assurance that the Company s Mobile Lithium Extraction Unit will be completed in the second quarter and commercial operation by the end of 2021.Fabrication of novel machines is subject to risks that may not be known or anticipated including potential cost overruns, delays in receipt of components and the necessity of making modifications if components do not meet specifications or perform as anticipated. Start up of operations may be subject to delays in site preparation and shipping and it maybe necessary to make modifications or to calibrate or adjust to conditions on the site. By their natu
International Battery Metals Ltd.: International Battery Metals Ltd Announces Closing of Private Placement
International Battery Metals Ltd.
(CSE: IBAT)
(the Company ) announces that it has closed its private placement with EVL Holdings, LLC ( EVL ) as announced on November 2, 2020, of 25,000,000 common shares at a price of $0.10 for proceeds of $2,500,000.
EVL will directly control 25,000,000 common shares which is 21.94% of the 113,971,166 common shares that will be outstanding after completion of the private placement.
Neither the Company nor, to the knowledge of the Company after reasonable inquiry, EVL has any knowledge of any material information concerning the Company or its securities that has not been generally disclosed.