International Battery Metals Ltd. Announces Warrant Exercise by Ensorcia Metals Ltd.

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Feb 02, 2021, 16:13 ET

VANCOUVER, BC, Feb. 2, 2021 /PRNewswire/ - International Battery Metals Ltd. (the "Company") (CSE: IBAT) announced today that 3,333,333 warrants held by Ensorcia Metals Corporation ("Ensorcia") have been exercised for total proceeds of US$350,000.00, (with an exercise price of US$0.105).

The Company has now substantially finished the detailed engineering and is approaching completion of key equipment fabrication for the Mobile Lithium Extraction Unit ("the Unit"). The Company is looking at having all of the mobile skids completed in the second quarter of this year.

Dr John Burba stated "The Company continues to be very excited and optimistic about the Ensorcia Chile project. It is the Company's objective to commence commercial operation with the Unit by the end of 2021".

ON BEHALF OF THE BOARD

"Dr. John Burba"

Forward–looking and cautionary statements

This release may contain certain forward–looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of Company with respect to the same. The Company cannot be certain that it can meet its objectives as there are many factors known and unknown that may impede it, including but not limited to, the continued funding of the project. There is no assurance that the Company's Mobile Lithium Extraction Unit will be completed in the second quarter and commercial operation by the end of 2021.Fabrication of novel machines is subject to risks that may not be known or anticipated including potential cost overruns, delays in receipt of components and the necessity of making modifications if components do not meet specifications or perform as anticipated. Start up of operations may be subject to delays in site preparation and shipping and it maybe necessary to make modifications or to calibrate or adjust to conditions on the site. By their nature, forward–looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward–looking statements.

SOURCE International Battery Metals Ltd.