Replies to post #5548 on International Battery Metals Ltd (IBATF)

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13. Provide details of any securities issued and options or warrants granted.
The Company, North American Lithium Inc. (“NAL”), and Selective Adsorption Lithium
Inc. (“SAL”) entered into a share exchange agreement on April 12, 2018, pursuant to
which the Company acquired (a) NAL’s data, analysis and reports related to lithium
extraction from oilfield brines for petro-lithium extraction projects, and (b) all of the
outstanding and issued shares held by SAL shareholders. As payment of the purchase
price, the Company agreed to immediately issue 4,700,000 common shares and further
agreed to issue an additional 20,609,488 common shares to be equally distributed to Dr.
John Burba, Christina Borgese, and Marc Privitera based on the following milestones:
(a) 4,000,000 common shares are to be issued following SAL and the Company filing
three US or foreign patent applications with respect to intellectual property;
(b) 5,536,496 common shares are to be issued following SAL and the Company filing
three additional patents with respect to intellectual property;
(c) 5,536,496 common shares are to be issued following SAL and the Company filing
three additional patents with respect to intellectual property; and
(d) 5,536,496 common shares are to be issued following the Company completing
either: (i) one or more private placement financing(s) resulting in the issuance of
an aggregate of no less than 5,000,000 common shares in the Company, or (ii)
completing a laboratory – scale pilot plant for the processing of lithium or lithium
concentrates.
(collectively, the “Milestone Shares”).
https://webfiles.thecse.com/IBAT_Form_7_-_February_2023.pdf?cQ92a9SBk5S3_Jr9gi4j9HKDv8ZHFYUs