NEO Battery Materials Announces Temporary TSXV Trading Halt for Change of Business Completion into a Technology Issuer
September 26 2023 - 4:05PM
(
TSXV:
NBM) (
OTCQB: NBMFF)
- Temporary
Trading Halt by TSXV as Normal Course of Action for Final
Completion of Change of Business into Tier 2 Industrial,
Technology, or Life Sciences Issuer
- TSXV to Issue
Final COB Approval & Trading Resumption in Two (2) Business
Days Following Completion of:
- Minimum $3.9M
CAD COB Financing & Minor Compliance Items
- To Fulfill
Requirements in an Expedient Manner to Align NEO with Current
Business Focus on Battery Technology Development
NEO Battery Materials Ltd.
(“NEO” or the
“Company”),
a low-cost silicon anode materials developer that enables
longer-running, rapid-charging lithium-ion batteries, announces
that the TSX Venture Exchange (“TSXV” or the
“Exchange”) has issued a temporary trading halt as
a normal course of action for the Change of Business
(“COB”) completion into a Tier 2 Industrial,
Technology, or Life Sciences Issuer pursuant to Exchange Policy
5.2.
Upon the completion of the minimum $3.9M CAD
financing and minor compliance items, the Exchange will issue the
final COB approval and resume trading in two (2) business days. The
Company will fulfill the requirements in an expedient manner, and
subsequent to the completed COB, NEO will be listed on the TSXV as
a Tier 2 Technology Issuer, aligning the Company with its current
business focus in battery materials technology development.
Mr. Spencer Huh, President & CEO of NEO,
commented, “We are excited to complete the final step in the
Company’s COB to become Canada’s first silicon anode material
company. As we progress towards commercialization and advanced
agreements in the EV battery industry, streamlining our industry
classification with our current business activities will enhance
visibility and clarity to the public, clients, and investment
community.”
About NEO Battery Materials
Ltd.NEO
Battery Materials is a Canadian battery
materials technology company focused on developing silicon anode
materials for lithium-ion batteries in electric vehicles,
electronics, and energy storage systems. With a patent-protected,
low-cost manufacturing process, NEO Battery enables longer-running
and ultra-fast charging batteries compared to existing
state-of-the-art technologies. Building the first commercial plant
in South Korea, the Company aims to be a globally-leading producer
of silicon anode materials for the electric vehicle and energy
storage industries. For more information, please visit the
Company’s website at: https://www.neobatterymaterials.com/.
On behalf of the Board of DirectorsSpencer
HuhPresident and CEOshuh@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.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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