International Battery Metals Ltd (IBATF)

[TradingCharts]

Form 7 - Monthly Progress Report
https://view.officeapps.live.com/op/view.aspx?src=https%3A%2F%2Fwebfiles.thecse.com%2F2024_-2_29_2024_Monthly_Progress_Report_FINAL.docx%3FSwYzofT4ALYrVfoC1tH1v8GpFamelQWx&wdOrigin=BROWSELINK

Management continues to market the Company’s technology to customers who have brine resources from existing chemical, mineral and metal production, and brine aquifer resource holders. These marketing efforts are focused in the near term on the Western United States, the Central United States area referred to as the Smackover formation, and Canada. Longer term, management will continue to monitor the markets in South America for potential opportunities.

Supporting these efforts, management is developing a 2nd generation MDLE Plant which will provide customers with the option to significantly increase the volume of production based on the quantity of their brine resources, the concentration of brine in their resources, the available land to place a MDLE Plant and their financial resources.

Management is working with bankers to complete a private placement to raise USD$15 million with banker option to upsize by 15%. Additionally, an existing investor, EV Metals led by Jacob Warnock is working on a Strategic Offering of up to USD$20 million. The initial closing of the Strategic Offering on February 29, 2024 was for proceeds of USD$2.0 million.

https://thecse.com/listings/international-battery-metals-ltd/