Seaport Global Acquisition II Corp. and American Battery Materials, Inc. Announce Initial Filing of Registration Statement on Form S-4 in Connection With Their Proposed Business Combination

~ Registration Statement on File with the SEC Marks Significant Step Towards Achieving Necessary Approvals for Merger Completion ~

~ Filing Milestone Serves as a Joint Effort on the Heels of ABM’s Recently Announced Commitment to $120 Million Merger ~

NEW YORK and GREENWICH, Conn., Sept. 26, 2023 (GLOBE NEWSWIRE) -- Seaport Global Acquisition II Corp. (NASDAQ: SGII) (“SGII”), a publicly-listed special purpose acquisition company, and American Battery Materials, Inc. (OTC Pink: BLTH) (“ABM” or the “Company”), an environmentally responsible minerals exploration and development company focused on direct lithium extraction and other critical minerals for the global energy transition, announced today SGII filed the initial Registration Statement on Form S-4 (the "Registration Statement") with the U.S. Securities and Exchange Commission (“SEC”) as a necessary and critical step towards merger completion.

The Registration Statement contains a preliminary proxy statement/prospectus in connection with the previously announced proposed business combination between SGII and ABM (the “Proposed Business Combination”). While the Registration Statement has not yet become effective and the information contained therein is subject to change, it provides important information about SGII and ABM, as well as the Proposed Business Combination.

Stephen Smith, Chief Executive Officer and Chairman of SGII commented: “The filing of the Registration Statement marks an important milestone for us in the process to uplist American Battery Materials to the Nasdaq. We remain confident that ABM is primed and positioned to be a leader in the important lithium supply chain here in the U.S., with its planned use of direct lithium extraction leading the way for an environmentally friendly, cost-effective, and highly scalable business.”

David Graber, Chairman and Co-Chief Executive Officer of ABM added: “Since we first announced the business combination with Seaport back in June, ABM has continued to make great progress. We have significantly expanded our mining claims in the Lisbon Valley of Utah; produced an updated technical report; and, readied ourselves to commence drilling. Further, the demand for lithium continues to far outpace supply. We are excited to have the Registration Statement filed and move forward with the proposed merger, which will be a defining moment for ABM and its shareholders. ABM remains uniquely positioned to capitalize on shifting market dynamics reflecting ongoing electrification trends across the globe, and our planned uplisting to the Nasdaq should enable us to advance our lithium activities to critical mass.”