VANCOUVER, BC and HOUSTON, June 2, 2025 /CNW/ - International Battery Metals Ltd. ("IBAT" or the "Company") (TSXV: IBAT) is pleased to announce the appointment of Michael Rutledge to serve as Chief Financial Officer of the Company. Prior to his appointment as Chief Financial Officer, Mr. Rutledge has served as interim Chief Financial Officer of the Company since March 6, 2025.
Mr. Rutledge, CPA, is a seasoned financial executive with extensive experience as chief financial officer of multiple publicly traded companies across various industries. He has a strong background in corporate finance, SEC reporting, and strategic growth initiatives, including IPOs and M&A.
Joseph Mills, Chief Executive Officer commented "We are very pleased to have Michael joining the leadership team at IBAT. During Michael's tenure as Interim CFO, he has proven strong leadership qualities and has worked tirelessly to help the IBAT team move the Company to its strategic goals of deploying the first large scale commercial DLE technology. We are very excited to welcome Michael to the leadership team ".
In accordance with Mr. Rutledge's employment agreement with the Company (the "Employment Agreement") and the Company's restricted share unit plan (the "RSU Plan"), the Company has granted to Mr. Rutledge 450,000 restricted share units ("RSU"), which RSUs will vest in full on the first anniversary of their date of issuance and an additional 900,000 RSUs, which RSUs will vest in full on the date that the Company completes the building and deployment (with secured financing) of two additional Direct Lithium Extraction plants (in addition to the exiting DLE plant that the Company is currently planning to deploy). All RSUs are subject to accelerated vesting in the event of change in control and the terms and conditions of the RSU Plan.
About International Battery Metals Ltd.
The Company's direct lithium extraction technology is based on proprietary lithium extraction media housed in patented extraction towers that are enclosed in a modular, transportable platform that is able to be loaded and brought into production within a condensed time frame after arrival on a customer site.
Utilizing the patented technology, the Company's focus has been on advanced extraction of lithium chloride from ground water salt brine deposits and returning the same water to the subsurface aquifer. The Company's unique patented technology ensures faster delivery of lithium chloride while ensuring minimal environmental impact.
"Joseph A. Mills"
Joseph A. Mills, CEO
(832) 683-8839
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This news release contains certain information that may constitute "forward-looking statements" under applicable Canadian securities legislation. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward- looking statements".
Actual results may vary from forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause IBAT's actual results, performance, achievements, and future events to be materially different from the results, performance, achievement, or future events expressed or implied therein. Factors that could affect the outcome include, among others: future prices and the supply of lithium and other metals, the future demand for lithium and other metals, inability to raise the money necessary to incur the expenditures required to advance the Company's business strategies and objectives, general business, economic, competitive, political, and social uncertainties, results relating to its extraction technologies, failure to obtain regulatory or shareholder approvals (if required). IBAT believes that the expectations reflected in these forward-looking statements are reasonable, however there can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking statements.
All forward-looking statements contained in this press release are given as of the date hereof and are based upon the opinions and estimates of management and information available to management as at the date hereof. IBAT disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by law.
