VANCOUVER, British Columbia, April 13, 2022 (Globe NEWSWIRE) — NEO Battery Products Ltd. (TSXV: NBM) (OTCQB: NBMFF) (“NEO” or the “Company”) is delighted to announce that the Organization, supplied its alter of target from battery mineral exploration to battery technological innovation, is proceeding with a “change of business” application with the TSX Enterprise Exchange (the “Trade”).
With the prepared design of the Company’s Industrial Plant, that will be capable of making an initial capacity of 240 tons for each yr, NEO Battery Components is on an accelerated timeline to deliver its proprietary silicon anode energetic materials, NBMSiDE™, to lithium-ion battery suppliers and electrical motor vehicle OEMs. The Organization deems that a alter in classification to a Tier 2 Industrial, Technology, or Everyday living Sciences issuer on the Exchange will assist provide the Company’s, and its shareholders, greatest pursuits in order to aid its organization things to do heading forward.
Improve of Business enterprise
The Company’s changeover to the new organization will constitute a Alter of Business in accordance with Exchange Plan 5.2 Changes of Enterprise and Reverse Takeovers (“Plan 5.2”) as the Company’s prior company was the exploration of minerals. As a final result, the transition is subject to Trade acceptance and will also need approval of the shareholders of the Corporation. The Company will be delivering a detailed information and facts round in regards to the Change of Company for the shareholder meeting at which the Business will be trying to find shareholder approval.
Sponsorship of a Modify of Organization may be necessary by the Trade unless exempt in accordance with Exchange guidelines. The Business intends to apply for an exemption from any sponsorship necessities even so, there is no assurance that it will be in a position to attain this exemption.
It is not currently contemplated that there will be any changes to present management or the board of directors of the Firm as a result of the proposed Improve of Business. As earlier announced, the Business is pursuing strategic investments by companies in the lithium-ion battery provide chain for the concurrent funding for the Modify of Small business. Proceeds from these kinds of funding are envisioned to fulfill the Tier 2 Initial Listing Requirements and will be utilized for devices purchases and the design of the Business Plant described above.
Mr. Spencer Huh, President and CEO of NEO, expressed, “NEO Battery Resources is reworking the lithium-ion battery house with our unique silicon anode answer that will both equally strengthen the operate-time of electrical vehicles and decrease the charging time required. As the mass adoption of EVs and cleanse technologies initiatives begin to accelerate, we are executing steady exertion to turn into an indispensable part of the battery worth chain. To develop and increase the diploma of flexibility of our latest operations, we deem that a improve in classification is crucial to improve shareholders’ benefit.”
NBMSiDE™ is NEO Battery Elements Ltd.’s flagship silicon anode product for electrical automobile lithium-ion batteries. NBMSiDE arrives in 3 variants, P100, P200, and C100, and is created via the Company’s proprietary nanocoating technologies. The products lines are based mostly on metallurgical-quality silicon microparticles and retain a large precise ability of >2,500 mAh/g. Via the Company’s South Korean mental home (IP) legislation organization, NBMSiDE™ is pending trademark approval.
About NEO Battery Supplies Ltd.
NEO Battery Products Ltd. is a Vancouver-based firm focused on electric powered automobile lithium-ion battery materials. NEO has a focus on producing silicon anode products as a result of its proprietary one-move nanocoating system, which delivers enhancements in ability and efficiency around lithium-ion batteries working with graphite in their anode components. The Corporation intends to turn into a silicon anode active resources supplier to the electric powered automobile field. For a lot more information, make sure you stop by the Company’s web-site at: https://www.neobatterymaterials.com/.
On behalf of the Board of Directors
President and CEO
This news release has statements about the Company’s anticipations with regards to the completion of the Transform of Enterprise and connected issues that are forward-searching in nature and, as a result, are subject to particular risks and uncertainties. Although the Corporation believes that the expectations reflected in these forward-hunting statements are sensible, undue reliance should not be put on them as precise success may differ materially from the forward-looking statements and there can be no assurance that this sort of anticipations will verify to be suitable. Things that could cause the genuine final results to differ materially from those in ahead-hunting statements include things like failure to finish the Transform of Small business and connected issues for any reason in anyway, such as failure to acquire Exchange acceptance or shareholder approval therefor. The forward-searching statements contained in this news release are built as of the date hereof, and the Corporation undertakes no obligation to update publicly or revise any forward-on the lookout statements or information, whether or not as a consequence of new information, upcoming functions or in any other case, besides as required by applicable securities regulations. The forward-wanting statements contained in this information launch are expressly competent by this cautionary assertion.
This news release does not represent and the issue issue hereof is not, an present for sale or a solicitation of an present to invest in, in the United States or to any “U.S Person” (as these expression is outlined in Regulation S under the U.S. Securities Act of 1933, as amended (the “1933 Act”)) of any fairness or other securities of the Company. The securities of the Company have not been registered less than the 1933 Act and may not be available or offered in the United States (or to a U.S. Person) absent registration below the 1933 Act or an applicable exemption from the registration demands of the 1933 Act.
Completion of the transaction is subject to a selection of ailments, together with Trade acceptance and shareholder acceptance. The transaction are unable to close until eventually the needed shareholder approval is attained. There can be no assurance that the transaction will be done as proposed or at all.
Investors are cautioned that, other than as disclosed in the administration details circular to be geared up in relationship with the transaction, any info produced or acquired with regard to the transaction may well not be correct or total and must not be relied on. Buying and selling in the securities of the Corporation should really be deemed hugely speculative.
The Trade has in no way passed on the merits of the Transaction and has neither accepted nor disapproved the contents of this news launch.
Neither TSX Undertaking Trade nor its Regulation Providers Provider (as that phrase is described in the procedures of the TSX Undertaking Trade) accepts accountability for the adequacy or precision of this launch.