NEO Battery Materials Announces Closing of Non-Brokered Private Placement Pursuant to Listed Issuer Financing Exemption - Seite 2

In connection with the Offering, the Company paid to the finders: (i) an aggregate cash commission of $9,352 CAD, and (ii) 29,225 non-transferable warrants of the Company exercisable at any time until November 24, 2025, at an exercise price of $0.75 CAD. The Company will use the proceeds of this Offering to expand the manufacturing capacity for NEO’s silicon anodes at Gyeonggi Technopark in Ansan Science Valley. The funds allocated will also be utilized to increase the headcount of research engineers to expand overall productivity toward striking advanced agreements with global EV battery supply chain parties.

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 laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities law, or an exemption from such registration requirements is available.

Mr. Spencer Huh, President & CEO of NEO, commented, “Despite being in one of the most dismally performing financial markets, we have been successful in completing our private placement due to the ever-increasing demand for NEO’s proprietary silicon anodes, NBMSiDE, by the global electric vehicle industry. Over the past months, we have expanded relationships through NBMSiDE evaluations to shorten the timeline for commercial-level battery integration. With new supportive shareholders who have invested in the fundamental developments and with new talented personnel like Dr. J. H. Woo, CSO of NEO, we are confident in achieving the next milestones with global players for maximal value creation.”

Trading Resumption Update
As a Change of Business requirement in accordance with TSXV Policy 5.2, the Exchange has requested the Company to file an updated filing statement (the “Filing Statement”) pursuant to TSXV Form 3D2 – Information Required in a Filing Statement for a Change of Business. The Filing Statement will retain comprehensive information on the Company, including management’s revised strategic objectives and milestones for capital-efficient commercialization through advanced agreements with global electric vehicle battery supply chain companies.