International Battery Metals Ltd. Announces Closing of First Tranche of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - August 27, 2019) - International Battery Metals Ltd. (CSE: IBAT) ("IBAT" or the "Company") announced today that is has closed the first tranche of its private placement announced August 21, 2019. The tranche consisted of 3,333,334 units at $0.105 USD per unit (approximately $0.14 CAD per unit) for total proceeds of $350,000 (approximately $466,667 CAD). The private placement is part of a total private placement of 13,000,000 units at $0.105USD per unit announced August 21, 2019. The proceeds of the private placement will be used as set out in the Company's news release of August 21, 2019.
IBAT is an advanced disruptive technology company focused on lithium brine extraction. The company is in the process of creating and applying intellectual property related to lithium extraction from brines.
ON BEHALF OF THE BOARD
"John L. Burba, PhD"
President CEO and Director
Phone: (778) 939-4228
This release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of the Company with respect to the same. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
CSE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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