NEO Battery Materials Announces Closing of Non-Brokered Private Placement Pursuant to Listed Issuer Financing Exemption
Summary
Each Warrant will be exercisable to acquire one Common Share of the Company at an exercise price of $0.75 CAD for a period of 24 months after the closing date or until November 24, 2025.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 or the Exchange) is at least $1.00 CAD 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.Subject to compliance with applicable regulatory requirements and in accordance with National Instruments 45-106 Prospectus Exemptions (NI 45-106), the Offering was 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 Company will use the proceeds of this Offering to expand the manufacturing capacity for NEOs silicon anodes at Gyeonggi Technopark in Ansan Science Valley. 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 Companys website at: .On Behalf of the Board of DirectorsSpencer HuhDirector, President and CEOThis news release includes certain forward-looking statements as well as managements objectives, strategies, beliefs and intentions. 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 .