October 11, 2017
International Battery Metals Ltd. (CSE: IBAT) (the “Company”) is pleased to announce that it has engaged Mackie Research Capital Corporation as agent (the “Agent”) to undertake a brokered private placement financing, on a best efforts basis, of up to 1,750,000 units at a price of $0.65 per unit for gross proceeds of up to $1,137,500. The financing is expected to close shortly.
Private Placement Details
1,750,000 units will be issued at $0.65 cents per common share. Each unit will consist of one (1) common share of the Company and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.80 per common share for a period of two (2) years, subject to the following acceleration provision (the “Acceleration Provision”): if the closing price for the common shares of the Company as traded on the Canadian Securities Exchange is equal to or greater than $1.25 per common share for any 20 non-consecutive trading days within any 60 calendar day period (the “Threshold Period”) occurring any time after the expiry of the 4 month hold period, then the Purchaser shall have until 4:00 pm (Vancouver, BC Time) of the 30th calendar day after the Company’s news release announcement of the occurrence of the Threshold Period to exercise the share purchase warrants (the “Accelerated Expiry Date”). The share purchase warrants shall expire on the earlier of the last day of the two (2) year exercise term or the Accelerated Expiry Date. The Company shall issue no other notice other than such news release. The Agent shall be paid a 7% cash commission and 10% compensation warrants having the same terms and conditions as the foregoing investor warrants.
Proceeds from the private placement will be used for working capital of the Company.
This release may contain certain forward-looking statements with respect to the financial condition,
results of operations and business of the Company and certain of the plans and objectives of the Company
with respect to the same. By their nature, forward-looking statements involve risk and uncertainty 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 from those expressed or implied by these