NEO Battery Materials Announces Pricing of Non-Brokered LIFE Private Placement
10 10월 2023 - 10:00PM
(
TSXV:
NBM) (
OTCQB: NBMFF)
NEO Battery Materials Ltd.
(“NEO” or the
“Company”),
a low-cost silicon anode materials developer that enables
longer-running, rapid-charging lithium-ion batteries, is pleased to
announce the pricing of the non-brokered private placement (the
“Offering”). NEO will issue a minimum of
12,187,500 up to a maximum of 15,625,000 units (the
“Units”) of the Company at a price of $0.32 per
Unit (the “Offering Price”) for gross proceeds of
a minimum of $3,900,000 CAD up to a maximum of $5,000,000 CAD.
Pursuant to the Listed Issuer Financing Exemption, the Units
offered will be immediately freely tradeable, not subject to a hold
period in accordance with applicable Canadian securities law.
Each Unit shall consist of one common share of
the Company (each, a “Common Share”) and one
non-transferable Common Share purchase warrant (each, a
“Warrant”). Each Warrant shall be exercisable into
one Common Share of the Company at an exercise price of $0.75 for a
period of 24 months after the Closing Date (as defined herein).
During the period of 24 months after the Closing
Date, in the event that the daily volume-weighted average trading
price (or closing bid price on days when there are no trades) of
the Common Shares on the TSX Venture Exchange
(“TSXV”) is at least $1.00 per Common Share for a
minimum of 15 consecutive trading days, the Company may issue a
written notice or press release (a “Warrant Acceleration
Notice”) to holders of the Warrants requiring each holder
to exercise the Warrants within 30 days following the date of
delivery of the Warrant Acceleration Notice.
The net proceeds of the Offering are expected to
be used to advance the development of the Company’s commercial
manufacturing plant in South Korea, North American expansion,
silicon anode R&D, and general working capital. The Company may
compensate certain eligible finders under the Offering and may pay
a cash commission of up to 7% of the gross proceeds of the Offering
and issue such a number of finder’s warrants of up to 7% of the
total number of Units issued.
The Offering is expected to be completed on or
about October 31, 2023 (“Closing Date”) and will
satisfy the Change of Business minimum financing requirement by the
TSXV, as previously announced by the Company on June 30, 2023.
Subject to compliance with applicable regulatory
requirements and in accordance with National Instrument 45-106 –
Prospectus Exemptions (“NI 45-106”), the Offering
is being made to purchasers resident in Canada (except Quebec)
and/or other qualifying jurisdictions pursuant to the listed issuer
financing exemption under Part 5A.2 of NI 45-106 (the
“Listed Issuer Financing Exemption”). The
securities issued pursuant to the Listed Issuer Financing Exemption
will not be subject to resale restrictions in accordance with
applicable Canadian securities laws, and the Units issued will be
immediately freely tradeable. There is an offering document related
to the Offering that can be accessed under the Company’s profile at
www.sedarplus.ca and at www.neobatterymaterials.com. Prospective
investors should read this offering document before making an
investment decision.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy nor shall there be any
sale of any of the securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful, including any of the
securities in the United States of America. The securities have not
been and will not be registered under the United States Securities
Act of 1933, as amended (the “1933 Act”) or any state securities
laws and may not be offered or sold within the United States or to,
or for account or benefit of, U.S. Persons (as defined in
Regulation S under the 1933 Act) unless registered under the 1933
Act and applicable state securities laws, or an exemption from such
registration requirements is available.
About NEO Battery Materials
Ltd.NEO
Battery Materials is a Canadian battery
materials technology company focused on developing silicon anode
materials for lithium-ion batteries in electric vehicles,
electronics, and energy storage systems. With a patent-protected,
low-cost manufacturing process, NEO Battery enables longer-running
and ultra-fast charging batteries compared to existing
state-of-the-art technologies. Building the first commercial plant
in South Korea, the Company aims to be a globally-leading producer
of silicon anode materials for the electric vehicle and energy
storage industries. For more information, please visit the
Company’s website at: https://www.neobatterymaterials.com/.
On behalf of the Board of DirectorsSpencer
HuhPresident and CEOshuh@neobatterymaterials.com
For IR, Media & More Information:
Danny Huh – dhuh@neobatterymaterials.com Peter
Kim – pkim@neobatterymaterials.com
This news release includes certain
forward-looking statements as well as management's objectives,
strategies, beliefs and intentions. Forward-looking statements are
frequently identified by such words as "may", "will", "plan",
"expect", "anticipate", "estimate", "intend" and similar words
referring to future events and results. Forward-looking statements
are based on the current opinions and expectations of management.
All forward-looking information is inherently uncertain and subject
to a variety of assumptions, risks and uncertainties, including the
speculative nature of mineral exploration and development,
fluctuating commodity prices, the effectiveness and feasibility of
technologies which have not yet been tested or proven on a
commercial scale, competitive risks and the availability of
financing, as described in more detail in our recent securities
filings available at www.sedar.com. Actual events or results may
differ materially from those projected in the forward-looking
statements and we caution against placing undue reliance thereon.
We assume no obligation to revise or update these forward-looking
statements except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
NEO Battery Materials (TSXV:NBM)
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NEO Battery Materials (TSXV:NBM)
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