VANCOUVER, British Columbia, April 13, 2022 (World NEWSWIRE) — NEO Battery Components Ltd. (TSXV: NBM) (OTCQB: NBMFF) (“NEO” or the “Company”) is delighted to announce that the Business, offered its modify of focus from battery mineral exploration to battery know-how, is proceeding with a “change of business” software with the TSX Undertaking Trade (the “Trade”).
With the planned building of the Company’s Business Plant, that will be able of making an initial potential of 240 tons per 12 months, NEO Battery Resources is on an accelerated timeline to provide its proprietary silicon anode energetic elements, NBMSiDE™, to lithium-ion battery producers and electric powered automobile OEMs. The Corporation deems that a modify in classification to a Tier 2 Industrial, Technological innovation, or Existence Sciences issuer on the Trade will assistance provide the Company’s, and its shareholders, ideal pursuits in get to facilitate its organization functions going forward.
Transform of Enterprise
The Company’s transition to the new organization will represent a Alter of Business enterprise in accordance with Exchange Coverage 5.2 Improvements of Small business and Reverse Takeovers (“Coverage 5.2”) as the Company’s prior business was the exploration of minerals. As a final result, the transition is issue to Trade acceptance and will also require acceptance of the shareholders of the Company. The Business will be supplying a in depth details circular in regards to the Change of Business enterprise for the shareholder assembly at which the Company will be looking for shareholder approval.
Sponsorship of a Improve of Organization may well be demanded by the Trade except exempt in accordance with Exchange policies. The Business intends to implement for an exemption from any sponsorship demands having said that, there is no assurance that it will be ready to get this exemption.
It is not now contemplated that there will be any alterations to present administration or the board of directors of the Enterprise as a outcome of the proposed Transform of Enterprise. As previously announced, the Firm is pursuing strategic investments by businesses in the lithium-ion battery source chain for the concurrent financing for the Adjust of Small business. Proceeds from these types of funding are anticipated to fulfill the Tier 2 Original Listing Needs and will be utilised for products buys and the design of the Industrial Plant explained higher than.
Mr. Spencer Huh, President and CEO of NEO, expressed, “NEO Battery Supplies is transforming the lithium-ion battery area with our unique silicon anode solution that will both of those make improvements to the run-time of electric automobiles and decrease the charging time necessary. As the mass adoption of EVs and clean technologies initiatives start out to accelerate, we are executing reliable work to come to be an indispensable part of the battery price chain. To broaden and boost the diploma of versatility of our recent functions, we deem that a transform in classification is essential to increase shareholders’ worth.”
NBMSiDE™ is NEO Battery Resources Ltd.’s flagship silicon anode content for electric auto lithium-ion batteries. NBMSiDE will come in three variations, P100, P200, and C100, and is made through the Company’s proprietary nanocoating technologies. The merchandise lines are based on metallurgical-quality silicon microparticles and retain a high precise capacity of >2,500 mAh/g. By the Company’s South Korean mental residence (IP) legislation firm, NBMSiDE™ is pending trademark approval.
About NEO Battery Materials Ltd.
NEO Battery Products Ltd. is a Vancouver-based mostly corporation targeted on electric powered automobile lithium-ion battery products. NEO has a emphasis on developing silicon anode components via its proprietary one-phase nanocoating process, which presents improvements in capacity and performance over lithium-ion batteries using graphite in their anode elements. The Organization intends to turn into a silicon anode lively resources provider to the electrical automobile sector. For extra facts, make sure you go to the Company’s web-site at: https://www.neobatterymaterials.com/.
On behalf of the Board of Administrators
President and CEO
This news launch contains statements about the Company’s expectations about the completion of the Modify of Business enterprise and linked issues that are forward-wanting in nature and, as a outcome, are matter to specified challenges and uncertainties. Though the Organization believes that the anticipations mirrored in these ahead-hunting statements are reasonable, undue reliance need to not be positioned on them as actual outcomes could vary materially from the forward-seeking statements and there can be no assurance that this sort of expectations will show to be suitable. Aspects that could result in the real final results to vary materially from people in ahead-wanting statements include failure to finish the Improve of Business enterprise and similar issues for any purpose by any means, which include failure to receive Exchange acceptance or shareholder approval therefor. The forward-on the lookout statements contained in this information launch are made as of the day hereof, and the Business undertakes no obligation to update publicly or revise any forward-hunting statements or details, whether as a final result of new facts, potential gatherings or otherwise, besides as required by relevant securities laws. The forward-wanting statements contained in this news release are expressly competent by this cautionary assertion.
This information launch does not represent and the matter subject hereof is not, an give for sale or a solicitation of an offer you to purchase, in the United States or to any “U.S Person” (as this sort of expression is defined in Regulation S below the U.S. Securities Act of 1933, as amended (the “1933 Act”)) of any fairness or other securities of the Corporation. The securities of the Company have not been registered below the 1933 Act and may perhaps not be available or marketed in the United States (or to a U.S. Individual) absent registration less than the 1933 Act or an applicable exemption from the registration specifications of the 1933 Act.
Completion of the transaction is topic to a quantity of conditions, like Trade acceptance and shareholder acceptance. The transaction cannot near till the demanded shareholder acceptance is attained. There can be no assurance that the transaction will be accomplished as proposed or at all.
Buyers are cautioned that, except as disclosed in the administration information and facts round to be ready in relationship with the transaction, any information and facts produced or received with respect to the transaction could not be exact or comprehensive and need to not be relied on. Trading in the securities of the Business need to be regarded hugely speculative.
The Trade has in no way handed on the merits of the Transaction and has neither authorized nor disapproved the contents of this news launch.
Neither TSX Venture Exchange nor its Regulation Solutions Supplier (as that phrase is outlined in the insurance policies of the TSX Venture Exchange) accepts responsibility for the adequacy or precision of this release.