Core Points - International Battery Metals Ltd. (IBAT) has completed a private placement financing with Encompass Capital Advisors LLC, raising approximately US$5,000,000 through the issuance of 25,765,259 units at a deemed issue price of US$0.19406 per unit [1][3] - Each unit consists of one common share and one warrant, with the warrant allowing the holder to purchase one common share at an exercise price of C$0.355 until August 5, 2028 [2] - Proceeds from the offering will be utilized for preparing IBAT's modular direct lithium extraction plant and for general corporate purposes [3] Financing Details - The offering was conducted as a private placement and is not registered under the Securities Act of 1933, meaning the securities cannot be offered or sold in the U.S. without registration or an exemption [4] - The securities issued are subject to a statutory hold period of four months and one day from the date of issuance under Canadian Securities laws [3] Warrant Amendments - The company has received approval from the TSXV for amendments to certain warrants issued in previous private placements, extending their expiration dates to August 5, 2028 [6][8] - The amendments include restrictions to prevent Encompass from becoming a control person through the exercise of these warrants [10][11] Related Party Transactions - The participation of Encompass in the offering and warrant amendments is classified as a "related party transaction" under Multilateral Instrument 61-101, with the company relying on exemptions from formal valuation and minority shareholder approval requirements [11]