Neo Battery Materials Ltd. (TSXV:NBM) announced that it has entered into an equity line of credit agreement with Alumina Partners (Ontario) Ltd. for gross proceeds of up to CAD 8,000,000 on March 16, 2021. The transaction will involve participation from new investor, Alumina Partners (Ontario) Ltd. The investment agreement provides the company with a financing facility over a period of 24 months during which the company can draw down equity private placement tranches of up to CAD 250,000. Each tranche will be composed of units with each unit consisting of one common share of the company and one common share purchase warrant, at discounts between 15% and 25% of the closing price of the common shares on the day prior to the company's drawdown notice to the investor. The exercise price of the warrants will be at a 25% premium over market at the time of the issuance. No finder’s fees will be paid in connection with the transaction. Each drawdown from the investment may be subject to approval of the TSX Venture Exchange. All securities issued pursuant to a financing under the investment agreement will be subject to a statutory hold period that expires four months and one day from issuance.