NEO Battery Materials Ltd., a developer of low-cost silicon anode materials for lithium-ion batteries, has successfully closed the final tranche of its oversubscribed private placement. The company raised a total of $900,000 CAD through the issuance of 1,800,000 Units at $0.50 CAD per Unit. Each Unit includes one common share and one non-transferable warrant, with each warrant exercisable to acquire an additional common share at $0.75 CAD within 24 months. The proceeds will be directed towards scaling up silicon battery research and development, purchasing key manufacturing equipment, and covering general corporate expenses. The offering is pending final acceptance from the TSX Venture Exchange.
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