Vancouver, British Columbia--(Newsfile Corp. - May 3, 2021) - NEO Battery Materials Ltd. (TSXV: NBM) ("NEO" or the "Company") announces that, in follow up to the Company's press release dated January 27, 2021 and in accordance with section 3.2(b) of the TSX Venture Exchange (the "Exchange") Policy 2.5, the Company provided a submission to the Exchange prior to April 30, 2021 evidencing how it intends to meet Tier 2 continued listing requirements as a mining Company.
In connection with the submission to the Exchange, the Company is providing the following summary and updates to its mining operations:
While the Company's principal enterprise continues to be that of a mining issuer, the Company also intends to pursue long term technology opportunities related to the raw materials production needed in the manufacture of batteries for the electric vehicle industry. In that regard, the Company has:
The Company anticipates the technology opportunities related to lithium-ion batteries are a long-term investment, and while the Company believes these activities will remain ancillary to the Company's mining enterprise, the Company still anticipates allocating a small portion of working capital to research, development, and licensing projects in the future.
About NEO Battery Materials Ltd.
NEO Battery Materials Ltd. is a Vancouver-based junior resource company focused on battery metals exploration in North America. The Company has staked new mining claims in Golden, BC, along a strike with a quartzite bed, targeting silica in the quartzites for a total of 467 hectares. The Company focuses on exploring and producing silicon, which, when added to anode materials in the production of lithium-ion batteries, provides improvements in capacity and efficiency over lithium-ion batteries using graphite in their anode materials. The Company intends to become an integrated silicon producer and anode materials supplier to the electric vehicle industry. For more information, please visit the Company's website at: https://www.neobatterymaterials.com/.
On behalf of the Board of Directors
Spencer Huh
President and CEO
604-697-2408
[email protected]
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