International Battery closes $10 million private placement to deploy DLE plant

International Battery Metals has raised C$14.3 million ($10.4 million) for the deployment of its of its modular direct lithium extraction (DLE) plant for a customer in the western United States and for general working capital purposes. The company announced sale of the plant in January but did not identify the purchaser.
The recent private placement consisted of approximately 18.6 million units priced at C$0.77 per unit. Each unit consists of the right to acquire one common share for a period of two years at an exercise price of C$0.96 per share.
In connection with the private placement, the company extended the expiry of approximately 6.4 million previously issued share purchase warrant to May 3, 2016, from April 21, 2025.
International Battery intends to make additional private placements of up to about C$18.7 million ($13.6 million) on similar terms to this placement.
The company’s DLE technology takes direct extraction to the next level compared to ion exchange and solvent extraction methods. The IBAT DLE uses zero acids or bases, so there is no waste salt created, making the process more economical and more environmentally friendly. Nor is throughput capacity effected by unequal distribution of charged ions.
IBAT DLE can handle high levels of chloride, magnesium and other elements present in natural brine without pretreatment and at scale.
More News
Workers sign petition for collective bargaining at Rio Tinto’s Pilbara mine
More than 400 workers at the Paraburdoo mine have signed a petition to support collective bargaining.
March 13, 2025 | 06:33 am
US agency slashes its estimate of Vietnam’s rare earth reserves in major revision
The revision has moved Vietnam from second position on the USGS's list of countries with the largest reserves down to 6th.
March 13, 2025 | 06:26 am
Exxaro’s new CEO tasked with diversifying into battery metals
Mining veteran Ben Magara will steer the South African coal miner's push into battery metals.
March 13, 2025 | 03:52 am
{{ commodity.name }}
{{ post.title }}
{{ post.excerpt }}
{{ post.date }}
Comments