International Battery Metals Ltd. announces private placement of 20,185,950 units at an issue price of CAD 1 per unit for gross proceeds of CAD 20,185,950 on January 29, 2024. Each Unit will consist of one common share in the capital of the Company and one transferable common share purchase warrant. Each whole Warrant shall entitle the holder thereof to acquire one common share in the capital of the Company at an exercise price of CAD 1.25 per Warrant Share, until the date which is 2 years following the Closing Date.

The Company will grant the Agents an option to increase the size of the Offering by up to an additional 15% of the Units sold under the Offering, exercisable in whole or in part, at any time and from time to time up to 48 hours prior to the closing of the Offering. The transaction is subject to the regulatory and Canadian stock exchange approvals.