- South Korean Subsidiary,
NBM Korea Co., Ltd. , Closed Series A$3 Million CAD Strategic Investment fromSouth Korean Automotive Parts Manufacturer, Automobile & PCB Inc. (“A&P”) onJuly 1, 2022 - In Process of Change of Business Application to Tier 2 Industrial, Technology, or Life Sciences Issuer with TSXV Exchange
Under the terms of the Series A financing, NBM Korea has issued a total of 517,657 Common Shares at a price of ₩ 5,795 per Common Share for aggregate gross proceeds of ₩
The Change of Business in accordance with Exchange Policy 5.2 will be subject to Exchange acceptance and the approval of shareholders of
About Automobile & PCB Inc.
Automobile & PCB Inc is a public company listed on the Korean Exchange and currently listed on the main board, KOSPI. A&P has annual revenues of CAD
About
NEO Battery Materials Ltd. is a Vancouver-based company focused on electric vehicle lithium-ion battery materials. NEO has a focus on producing silicon anode materials through its proprietary single-step nanocoating process, which provides improvements in capacity and efficiency over lithium-ion batteries using graphite in their anode materials. The Company intends to become a silicon anode active 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
President and CEO
604-697-2408
shuh@neobatterymaterials.com
This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of technologies which have not yet been tested or proven on a commercial scale, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
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