RE:RE:New Press Release - NEO Battery Materials Announces Pricing of Non-Brokered LIFE Private PlacementThe new... The money offering will satisfy the Change of Business minimum financing requirement by the TSXV, as previously announced by the Company on June 30, 2023.
Each Unit shall consist of one common share of the Company (each, a “Common Share”) and one non-transferable Common Share purchase warrant (each, a “Warrant”). Each Warrant shall be exercisable into one Common Share of the Company at an exercise price of $0.75 for a period of 24 months after the Closing Date (as defined herein).
Also, The net proceeds of the Offering are expected to be used to advance the development of the Company’s commercial manufacturing plant in South Korea, North American expansion, silicon anode R&D, and general working capital.
It's a good new as a whole.
However, the company's halt time is incomprehensible.