21:39:42 EDT Sat 18 May 2024
Enter Symbol
or Name
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International Battery Metals Ltd
Symbol IBAT
Shares Issued 202,255,398
Close 2023-12-11 C$ 0.90
Market Cap C$ 182,029,858
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International Battery adds Michel as co-CEO, Smith CFO

2023-12-11 16:40 ET - News Release

Mr. William Webster reports

INTERNATIONAL BATTERY METALS LTD. ANNOUNCES LIBOR MICHEL AS CO-CEO AND DOUG SMITH AS CFO

International Battery Metals Ltd. has appointed Libor Michel to serve as co-chief executive officer, along with Garry Flowers, and has appointed Douglas Smith as chief financial officer, effective immediately.

Mr. Michel has decades of experience as a strategic adviser to companies in the energy and energy transition sectors, raising substantial capital and driving transformative acquisition transactions. Mr. Michel joins us after a successful investment banking career at Stifel and Jefferies in their Houston offices.

Mr. Flowers will continue to lead the day-to-day operations and oversee the construction, mobilization and operation of the company's current and future production facilities. Mr. Michel's primary focus will be corporate development and capital markets activity funding the commercialization of the company's industry leading technologies.

Mr. Smith joins the company with over 30 years of experience working with high-growth companies, including experience in oil field services and seismic survey companies which geographically overlap with the worlds' lithium resources. Mr. Smith will be responsible for the accounting, audit, tax and financing plans as the company mobilizes its production facilities.

"Libor has quickly become our trusted adviser. His joining me as co-CEO will solidify our already strong management team and give us the firepower to move our company to the next level. We already have a great working relationship, and I look forward to collaborating together to drive value for our shareholders. Doug walks in day 1 as a seasoned CFO, with great agility and adding bench strength to our senior leadership team," said Mr. Flowers.

"Libor brings a critical skill set to IBAT. His deep experience in corporate finance and financial transactions will complement the strong operating experience of Garry Flowers and the groundbreaking scientific accomplishments of John Burba. In addition, Doug Smith's impressive experience as a CFO across multiple industries will give IBAT an executive team on which we can build an innovative, successful future in direct lithium extraction," said William Webster, chairman of the board of directors of the company.

John Burba, the company's founder and director of Global Technology, noted that, "Our company has industry leading direct lithium extraction technology and we welcome Libor and Doug into the team to take us to full commercialization."

Mr. Michel commented: "I am thrilled at this opportunity, and I am humbled by the trust the board and Garry have placed in me. I am excited at the prospect of helping drive results and growth of our company for our shareholders, in a time of great change and opportunity in the lithium extraction industry."

Mr. Smith replaces Daniel H. Christie in his role of interim CFO. The company wishes to thank Mr. Christie for his contributions and wishes him the best in his return to retirement. Mr. Christie will continue to work with the company until the end of the year in order to transition the role.

The company is also pleased to advise that it has entered into a service agreement with Dennard Lascar investor relations.

Pursuant to the service agreement, Dennard Lascar will provide the company with assistance in its continuing investor relations' strategies structured toward shareholder communications and media relation services. Mr. Lascar will provide its services on a project-by-project basis utilizing a standard hourly fee structure coupled with its standard rates for press release distributions.

William Webster Lascar is an investor relations firm based out of Houston, Tex., and has served publicly traded companies since 1997 across a variety of industries including energy, retail, restaurants, banking, finance, insurance, transportation and industrial. Mr. Lascar and its principals are arm's length from the company and do not have any interest, direct or indirect, in the company or its securities. Mr. Lascar's business address is located at 1800 West Loop South, suite 200, Houston, Tex., 77027. Mr. Lascar's office can be reached at 713-529-6600, or by e-mail at IBAT@dennardlascar.com.

About International Battery Metals Ltd.

The company's direct lithium extraction technology is based on proprietary lithium extraction housed in patented extraction towers that are enclosed in a modular, shippable platform able to be loaded and brought into production within 10 days of arrival on a customer site. Utilizing the patented technology, the company has a focus on advanced extraction of lithium chloride from groundwater salt brine deposits and returning the same water to the subsurface aquifer from which it is extracted. The company's unique patented technology ensures faster delivery of lithium chloride while ensuring minimal environmental impact.

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