VANCOUVER, BC, November 1, 2022 /PRNewswire/ – International Battery Metals Ltd. (the “Company” or “IBAT”) (CSE: IBAT) (FSE: 8RE) today announced that it has engaged BMO Capital Markets (“BMO”) as financial advisor.
BMO and Piper Sandler & Co. will jointly advise the Company on a range of business opportunities to position its mobile lithium mining technology in the lithium industry, with a focus on deploying its current plant to commercial scale. The range of opportunities under consideration includes business partnerships, joint ventures as well as business combinations to acquire viable brine resources.
The announcement follows a independent technical review of IBAT’s commercial-scale mobile lithium extraction plant by global engineering firm SLR Consulting, which confirmed that the patented technology can extract more than 65% of available lithium from brine, effectively removing impurities and recycle and reuse more than 94% of the water.
As designed, this mobile lithium extraction plant has the potential to produce 5,000 metric tons of commercial grade lithium chloride per year, on a lithium carbonate equivalent basis. Its economical and modular design allows the technology to be deployed faster, at much lower costs, than traditional lithium processing methods. Additionally, the modular design allows IBAT’s technology to scale quickly to extract lithium from the world’s largest resources.
ON BEHALF OF COUNCIL
“dr. John Burba“
dr. John BurbaCEO and administrator
Tel: (832) 683-8839
International Battery Metals (IBAT) is the first company in the world to successfully design, build and operate a commercial-scale mobile Modular Lithium Direct Extraction (MDLE) plant with lithium brine. IBAT’s patented extraction technology has been proven to recover more lithium from brine than traditional methods, while providing far superior environmental performance. IBAT’s technology can be built, deployed and brought online in a fraction of the time and at a fraction of the cost of traditional lithium mining models.
Forward-Looking Statements and Cautions
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and there will be no sale of securities in any state of the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in United States failure to register or an applicable exemption from the registration requirements. This release may contain statements within the meaning of the safe harbor provisions as defined by securities laws and regulations.
This press release may contain certain forward-looking statements regarding the financial condition, results of operations and businesses of the Company and certain of the Company’s plans and objectives in this regard. By their nature, forward-looking statements involve risks and uncertainties 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. of those expressed or implied by such forward-looking statements. – statements to research.
SOURCE International Battery Metals Ltd.