NEO Battery Materials Engages Generation IACP Inc. for Market Making Services
04 Juillet 2023 - 10:30PM
(
TSXV:
NBM) (
OTCQB: NBMFF)
NEO Battery Materials Ltd.
(“NEO” or the
“Company”),
a low-cost silicon anode materials developer that enables
longer-running, rapid-charging lithium-ion batteries, is pleased to
announce that, in compliance with the policies and guidelines of
the TSX Venture Exchange and other applicable legislation, it has
engaged Generation IACP Inc. (“Generation”) to
provide market making services with the objective of maintaining a
reasonable market and improving the liquidity of NEO’s common
shares.
Under the agreement, Generation will receive a
fee of C$7,500 plus applicable taxes per month. The agreement
between the Company and Generation is for an initial term of six
(6) months and shall be automatically renewed for subsequent six
(6) month periods (collectively, the "Term") unless the Company
provides written notice of termination to Generation at least 30
days prior to the end of the Term or Generation provides a written
notice of termination to the Company. Commencing on the first
anniversary of the agreement, the fee payable to Generation will
automatically increase annually by 3.0%. No stock options or other
compensation are being granted in connection with the engagement.
Generation does not currently own any securities of the Company;
however, Generation and its clients may acquire an interest in the
securities of the Company in the future.
Generation is an arm's length party to the
Company. Generation's market making activity will be primarily to
correct temporary imbalances in the supply and demand of the
Company's shares. Generation will be responsible for the costs it
incurs in buying and selling the Company's shares, and no third
party will be providing funds or securities for the market making
activities.
About NEO Battery Materials
Ltd.NEO Battery Materials Ltd.
is a Vancouver-based company focused on electric vehicle
lithium-ion battery materials. NEO has a focus on producing silicon
anode materials through its proprietary single-step nanocoating
process, which provides improvements in capacity and
efficiency over lithium-ion batteries using graphite in their anode
materials. The Company intends to become a silicon anode active
materials supplier to the electric vehicle industry. For more
information, please visit the Company’s website at:
https://www.neobatterymaterials.com/.
On behalf of the Board of DirectorsSpencer
HuhPresident and CEO604-355-6463shuh@neobatterymaterials.com
This news release includes certain
forward-looking statements as well as management's objectives,
strategies, beliefs and intentions. Forward looking statements are
frequently identified by such words as "may", "will", "plan",
"expect", "anticipate", "estimate", "intend" and similar words
referring to future events and results. Forward-looking statements
are based on the current opinions and expectations of management.
All forward-looking information is inherently uncertain and subject
to a variety of assumptions, risks and uncertainties, including the
speculative nature of mineral exploration and development,
fluctuating commodity prices, the effectiveness and feasibility of
technologies which have not yet been tested or proven on a
commercial scale, competitive risks and the availability of
financing, as described in more detail in our recent securities
filings available at www.sedar.com. Actual events or results may
differ materially from those projected in the forward-looking
statements and we caution against placing undue reliance thereon.
We assume no obligation to revise or update these forward-looking
statements except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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