SAN JUAN, Puerto
Rico, May 6, 2024 /CNW/ - Jacob Warnock
(the "Acquiror") is pleased to announce that, on
May 3, 2024, he indirectly acquired
(the "Acquisition") control and/or direction over an
aggregate of 7,924,157 units
("Units") of International Battery Metals Ltd.
(the "Issuer"), a British
Columbia-based, lithium processing company, with each Unit
being comprised of one common share of the Issuer (the "Common
Shares") and one Common Share Purchase warrant (the
"Warrants"), to acquire one Common Share at a price of
C$0.9579 per Common Share for a
period of two years following the date of issuance. In
addition, and as a structuring fee, EV Metals VI LLC, as defined
below, received 574,840 Common Shares.
Immediately prior to the Acquisition, the
Acquiror owned 21,991,382 Common Shares, 2,702,400 Warrants and
third-party derivative securities to acquire 6,946,293 Common
Shares, collectively representing approximately 14.07% of the
presently issued and outstanding Common Shares, on a fully-diluted
basis. The Acquisition together with the additional Common Shares
received pursuant to the structuring
fee increases the Acquiror's position to
48,063,229 Common Shares (assuming exercise of the Warrants and all
third-party derivative securities to acquire Common Shares), or
approximately 18.29% of the presently issued and outstanding Common
Shares, on a fully-diluted basis. The Acquiror controls such
securities by nature of his control over certain related parties,
including EV Metals LLC, EV Metals II LLC, EV Metals III LLC, EV
Metals IV LLC, EV Metals V LLC, EV Metals VI LLC, Elegante Energy
LLC, Perk Salar, LLC and JAW Puerto Rico Trust.
The securities were acquired in connection with a
non-brokered private placement with the Issuer for an aggregate
purchase price of C$6,072,440. The
Acquiror has acquired the securities for investment purposes, and
may acquire further securities, or dispose of its holdings of such
securities, both as investment conditions warrant. The Issuer is
listed on the Canadian Securities Exchange under the symbol
"IBAT".
The Acquiror is located at 1 Calle Cervantes
#5 San Juan PR 00907. For further information please contact
Jacob Warnock at
jawarnock@sbcglobal.net. The Issuer's head office is located at
Royal Centre, Suite 1750 - 1055 W. Georgia
Street, Vancouver, BC V6E
3P3.
* * *
SOURCE Jacob Warnock