Global Battery Metals Ltd. announced a non-brokered private placement of 5,000,000 units at a price of CAD 0.10 per unit for gross proceeds of CAD 500,000 on July 14, 2022. Each unit will consists of one common share and one share purchase warrant. Each warrant will be exercisable into one additional common share of the company at an exercise price of CAD 0.14 for a period of 24 months from the closing date, provided that, if the closing price of the shares is greater than CAD 0.30 for ten consecutive trading days, the warrants will expire thirty days after the date on which the company provides notice of such fact to the holders thereof.

The transaction is expected to close in mid-August, 2022. The company may pay finder's fee in the transaction. The transaction is subject to approval from regulatory authorities and stock exchanges.