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Vancouver, British Columbia--(Newsfile Corp. - April 4, 2025) - Sorcia Minerals, LLC ("Sorcia"), a subsidiary of Ensorcia Metals Corporation (the "Acquiror"), announces the filing of an early warning report (the "EWR") in connection with the disposition of an aggregate of 7,649,552 common shares (the "Shares") in the capital of International Battery Metals Ltd. (the "Corporation") over the following three transactions (the "Transactions").
1) On July 28, 2024, the Acquiror, a 10% insider of the Corporation, through its controlled subsidiary, Sorcia, entered into a private transaction for the disposition of 303,398 Shares. The Acquiror previously directly or indirectly controlled 31,258,997 Shares, and following the disposition of 303,398 Shares, the Acquiror directly or indirectly controlled 30,955,599 Shares, representing approximately 12.76% of the issued and outstanding Shares (based on 242,608,091 Shares of the Corporation being issued and outstanding).
2) On August 14, 2024, the Acquiror, through its controlled subsidiary, Sorcia, disposed of an aggregate of 3,846,154 Shares pursuant to an Exchange Agreement with Green Sea Ventures LLC and Elegante Energy LLC, as further described in the EWR. The Acquiror previously directly or indirectly controlled 30,955,599 Shares, and following the disposition of 3,846,154 Shares, the Acquiror directly or indirectly controlled 27,109,445 Shares, representing approximately 11.17% of the issued and outstanding Shares (based on 242,608,091 Shares being issued and outstanding).
3) On March 31, 2025, the Acquiror, through its controlled subsidiary, Sorcia, entered into a private transaction for the disposition of 2,500,000 Shares, and a separate private transaction for the disposition of 1,000,000 Shares. The Acquiror previously directly or indirectly controlled 27,109,445 Shares, and following the disposition of 3,500,000 Shares, the Acquiror directly or indirectly controlled 23,609,445 Shares, representing approximately 9.72% of the issued and outstanding Shares (based on 242,908,091 Shares of the Corporation being issued and outstanding).
The securities of the Corporation were disposed of in the Transactions for investment considerations. The Acquiror may acquire additional securities either on the open market or through private acquisitions or sell the securities either on the open market or through private dispositions in the future depending on market conditions and/or other relevant factors. As the Acquiror has fallen below the 10% threshold for reporting insiders, the Acquiror is no longer a reporting insider of the Corporation.