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Vancouver, BC and Houston – Jan. 14, 2025
International Battery Metals Ltd. (the “Company” or “IBAT”) (TSXV: IBAT) is pleased to provide an update on certain general corporate matters. Following the Company’s most recent annual general meeting held on October 31, 2024, the Company’s board of directors (the “Board”), consisting of John Burba (founder), Jacob Warnock, James Schultz, Keith Solar, and John Souther, elected John Burba to act as the Chair of the Board.
On November 26, 2024, the Board approved the grant of an aggregate of 2,705,630 restricted share units of the Company (“RSUs”) to the directors of the Company in accordance with the Company’s restricted share unit plan (the “RSU Plan”). Each director received a grant of 541,126 RSUs. The RSUs will fully vest one year from the date of grant and once vested, each RSU will settle into one common share of the Company. All such RSUs are subject to the terms of the RSU Plan, applicable securities law hold periods, and the policies of the TSX Venture Exchange (the “TSXV”).
In connection with commencing her role as Chief Executive Officer of the Company on August 20, 2024, Iris Jancik was granted 2,113,814 options of the Company (“Options”) in accordance with the Company’s option plan (the “Option Plan”). Each Option is exercisable into one common share of the Company for a period of ten years from the date of grant at an exercise price of C$0.94 per share. The Options vest in tranches over specified periods. Ms. Jancik was also granted 4,227,630 RSUs, which vest based on the completion of certain milestones agreed to by Ms. Jancik and the Board.
About International Battery Metals Ltd.
IBAT is an advanced technology company focused on the development of environmentally responsible methods of extracting lithium compounds from brine. IBAT has developed a patented modular direct lithium extraction plant (“MDLE Plant”) which allows for rapid deployment to a resource holder’s production site. IBAT is working with resource holders of oilfield brines, brine aquifers, and industrial customers with brine by-products. The company believes that the modular design of its MDLE Plant provides significant initial cost savings to customers and the proprietary direct lithium extraction technology lowers operating costs by selectively extracting lithium from the brine while efficiently removing contaminants.
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.
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SOURCE International Battery Metals Ltd.
