
VANCOUVER, BC and HOUSTON, January 14, 2025 – International Battery Metals Ltd. (the “Company” or “IBAT“) (TSXV: IBAT) announces a general corporate update. Following the Company’s annual general meeting on October 31, 2024, the Board of Directors—John Burba (founder), Jacob Warnock, James Schultz, Keith Solar, and John Souther—appointed John Burba as Board Chair.
On November 26, 2024, the Board approved the granting of 2,705,630 restricted share units (RSUs) to its directors under the Company’s RSU Plan. Each director received 541,126 RSUs, vesting fully after one year and converting to one common share each. These RSUs are subject to the RSU Plan, securities laws, and TSX Venture Exchange (TSXV) policies.
In conjunction with Iris Jancik’s appointment as Chief Executive Officer on August 20, 2024, she was granted 2,113,814 stock options (Options) under the Company’s option plan, exercisable for ten years at C$0.94 per share. The vesting schedule is: 600,000 upon grant; 252,302 at the end of each of the first four six-month periods; and 252,303 at the end of each of the first two six-month periods following the second anniversary of the grant date. These Options are subject to the Option Plan, securities laws, and TSXV policies. Ms. Jancik also received 4,227,630 RSUs under the RSU Plan, with 300,000 vesting upon grant and the remainder vesting upon achievement of specific milestones agreed upon by Ms. Jancik and the Board. These RSUs are also subject to the RSU Plan, securities laws, and TSXV policies.
IBAT is an advanced technology company developing environmentally friendly lithium extraction methods from brine. Its patented modular direct lithium extraction plant (MDLE Plant) enables rapid deployment to resource holders. IBAT collaborates with holders of oilfield brines, brine aquifers, and industrial customers with brine by-products. The company believes its MDLE Plant’s modular design significantly reduces initial costs, and its proprietary direct lithium extraction technology lowers operating costs by selectively extracting lithium while efficiently removing contaminants.
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SOURCE International Battery Metals Ltd.