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NEO Battery Materials Announces Closing of First Tranche of Private Placement

TORONTO, June 17, 2025 (GLOBE NEWSWIRE) -- NEO Battery Materials Ltd. ("NEO" or the "Company") (TSXV: NBM) (OTC:NBMFF), a low-cost silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries, is pleased to announce the closing of the first tranche (the "First Tranche") of a non-brokered private placement (the "Offering") through the issuance of 400,000 units (each, a "Unit") at a price of $0.50 CAD per Unit (the "Offering Price") for aggregate gross proceeds of $200,000 CAD.

Each Unit consists of one common share of the Company (each, a "Common Share") and one non-transferable Common Share purchase warrant (each, a "Warrant"). Each whole Warrant will be exercisable to acquire one Common Share of the Company at an exercise price of $0.75 CAD for a period of 24 months from the closing date of the Offering. The use of proceeds will be allocated towards (i) scaling-up silicon battery research and development and production for large-scale battery manufacturing and testing, (ii) purchases of key manufacturing equipment, and (iii) working capital and general corporate overhead.

In connection with the Offering, the Company paid to the finders: (i) an aggregate cash commission of $14,000 CAD, and (ii) 28,000 non-transferable warrants of the Company exercisable at an exercise price of $0.50 CAD for a period of 24 months from the closing date of the Offering. The Units have been offered to purchasers outside of Canada pursuant to an exemption from the prospectus requirement available under Ontario Securities Commission Rule 72-503, Distributions Outside Canada ("OSC 72-503"), and accordingly, the securities issued pursuant to OSC 72-503 will not be subject to resale restrictions. The Offering is not a Related Party Transaction as defined by Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions ("MI 61-101") and therefore is not subject to TSXV Policy 5.9. The Offering is subject to final acceptance of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities ...