VANCOUVER, BC and HOUSTON, January 14, 2025 /PRNewswire/ – International Battery Metals Ltd. (“Company” or “IBAT“) (TSXV: IBAT) is pleased to provide the latest information on certain general corporate matters. Following the last annual general meeting of the Company held on October 31, 2024, the Board of Directors of the Company (“Board“), consisting of John Burba (founder), Jacob Warnock, James Schultz, Keith Solar and John Southerselected John Burba hold the position of chairman of the board.
On November 26, 2024The Board approved the allocation of a total of 2,705,630 restricted shares of the Company (“RSUs“) to the directors of the Company in accordance with the limited share plan of the Company (“RSU plan“). Each director received a grant of 541,126 RSUs. The RSUs will vest in full one year from the grant date and upon vesting, each RSU will be settled in one common share of the Company. All such RSUs- these are subject to the terms of the RSU Plan, the retention period of applicable securities laws and policies TSX Venture Exchange (“TSXV“).
In connection with the commencement of her role as Chief Executive Officer of the Society of Days August 20, 2024Iris Jancik received 2,113,814 Company options (“Possibilities“) in accordance with the Company’s option plan (“Optional plan“). Each option can be exercised on one ordinary share of the Company within a period of ten years from the date of grant at an exercise price of 0.94 Canadian dollars per share. The options vest as follows: 600,000 on the grant date, 252,302 on the last day of each of the first four six-month periods immediately following the grant date, and 252,303 on the last day of each of the first two six-month periods. immediately following the second anniversary of the grant date. All such Options are subject to the terms of the Option Plan, applicable securities law retention periods and TSXV policies. Ms. Jancik was also awarded 4,227,630 RSUs in accordance with the RSU Plan. RSUs vest 300,000 on the grant date and the remainder vest in tranches upon completion of certain milestones as agreed Mrs. Jancik and the Board. All such RSUs are subject to the terms of the RSU Plan, applicable securities law retention periods and TSXV policies.
About International Battery Metals Ltd.
IBAT is an advanced technological company focused on the development of environmentally responsible methods for the extraction of lithium compounds from brine. IBAT has developed a patented modular plant for the direct extraction of lithium (“MDLE factory“) that enables rapid deployment to the resource owner’s production site. IBAT works with oil field brine resource owners, brine aquifers and industrial customers with brine byproducts. IBAT believes the modular design of its MDLE facility provides significant initial cost savings to customers, and its own direct lithium extraction technology reduces operating costs by selectively extracting lithium from brine while effectively removing contaminants.
Nor TSX Venture Exchange nor its regulatory service provider (as that term is defined in the policies TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this publication.
