International Battery Metals Provides Supplement Information to Management Information Circular

Ad blocking detected

Thank you for visiting We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Vancouver, British Columbia--(Newsfile Corp. - April 8, 2021) -  International Battery Metals Ltd. (CSE: IBAT) (the "Company") provides this news release to supplement information for the Special Meeting to be held April 19, 2021 whereby the Company is seeking shareholder approval for a private placement with Sorcia Minerals LLC ("Sorcia") and EVL Holdings, LLC ("EVL") at a price of $0.58 per unit (the "Financing").

Background to the Financing: In October and December 2020 the Company completed two private placements with Sorcia and EVL for $2.5M each. Prior to these private placements the Company was struggling to raise funds in the lithium market. The funds raised were not enough to assemble and fabricate the Company's Mobile Lithium Extraction Unit. Sorcia and EVL proposed to the Company that they would do an additional private placement and in early 2021 they made a formal proposal to do a $10M private placement. There were various conferences with the Company's representatives and Sorcia and EVL's representatives. Ultimately, because there was no other funding forthcoming, the Board of Directors of the Company agreed to proceed with a private placement with no commissions at a price of $0.58 per unit. This funding will enable to Company to commence fabrication of the Mobile Extraction Unit.

Board review and approval of Financing: There was no special committee formed for the Financing. The Company has only four directors which are all independent of Sorcia, EVL and Ensorcia Metals Corp. (which is the parent company of Sorcia). All of the directors understand the need for the Financing to keep the Company's objectives on track to complete the Mobile Extraction Unit. Additionally, the price of the Financing is attractive and Sorcia and EVL agree to support the management of the Company and the Company's objectives.

Voting Arrangement: The October and December 2020 private placements provided voting arrangements with Sorcia and EVL whereby Sorcia and EVL will vote their shares with management for a period of two years. The Company proposed the voting arrangements because the Company has licensing agreements with Ensorcia Metals Corp. and wanted to ensure that the majority of the directors remains independent from Ensorcia Metals Corp. These voting arrangements are included in the Financing the Company is seeking approval for at the Special Meeting.

Board Recommendation: The Board of Directors of the Company recommends that shareholders approve of the Financing resolution at the meeting on April 19, 2021.


"Dr. John Burba"

Dr. John Burba, President CEO & Director
Tel: (778) 939-4228

Forward‐looking and cautionary statements

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in 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 the United States absent registration or an applicable exemption from registration requirements. This release may contain statements within the meaning of safe harbour provisions as defined  under securities laws and regulations.

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 forward‐looking statements.

To view the source version of this press release, please visit

Comment On!

Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to (via Easy Blurb).