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NEO Battery Materials Ltd. Announces Private Placement

Vancouver, British Columbia – April 26, 2021

NEO Battery Materials Ltd. (TSXV: NBM) (“NEO” or the “Company”) has arranged a non-brokered private placement of up to 12.5 million units at a price of 12 cents per unit for proceeds of up to $1,500,000. Each unit will consist of one common share of the company and one share purchase warrant. Each warrant entitles the registered holder to acquire one additional share of the company at a price of 16 cents for a period of 3 years.

All the securities issued pursuant to this private placement will be subject to a four-month and one day of holding period. The private placement is subject to acceptance by the TSX Venture Exchange.

Certain insiders are expected to participate in the private placement. The participation of such directors and officers in the offering will constitute a related party transaction for the purposes of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The Company will be exempt from requirements to obtain a formal valuation or minority shareholder approval in the connection with offering in reliance on section 5.5(a) and 5.7(1)(a) of MI 61-101.

Proceeds from this financing will be used for general working capital and business development.

About NEO Battery Materials Ltd.

NEO Battery Materials Ltd. is a Vancouver-based junior resource company focused on battery metals exploration in North America. The Company has staked new mining claims in Golden, BC, along a strike with a quartzite bed, targeting silica in the quartzites for a total of 467 hectares. The Company focuses on exploring and producing silicon, which, when added to anode materials in the production of lithium-ion batteries, provides improvements in capacity and efficiency over lithium-ion batteries using graphite in their anode materials. The Company intends to become an integrated silicon producer and anode materials supplier to the electric vehicle industry. For more information, please visit the Company’s website at: https://www.neobatterymaterials.com/.

On behalf of the Board of Directors

Spencer Huh
President and CEO
604-697-2408
[email protected]

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.