NEO Battery Materials Announces Application for Trading on OTCQB Market and DTC Eligibility & Briefing on Corporate Developments
August 6, 2021 (Source) — NEO Battery Materials Ltd. (TSXV: NBM) (OTC: NBMFF) (“NEO” or the “Company“), an integrated high-performance silicon anode active material producer for lithium-ion batteries, is pleased to announce that it has applied for the OTCQB® Venture Market (“OTCQB“) and full eligibility through the Depository Trust Company (“DTC“) for electronic settlement and clearing of its common shares in the United States. NEO Battery Materials is currently trading on the OTC Pink Current under the symbol NBMFF and will continue to trade under the same symbol once listed on the OTCQB.
The OTCQB is the premiere marketplace for early-stage and developing U.S. and international companies. Participating companies must be current in their reporting and undergo an annual verification and management certification process. The OTCQB Venture quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors. DTC eligibility will enable an accelerated settlement process and NEO’s shares to be economically transferred between brokerage accounts electronically within the United States.
Brief: Corporate Developments
Spencer Huh, President and CEO of NEO, commented, “NEO is under the process of signing 2 new NDAs which includes an established automotive maker. Under our current working relationships with our NDA partners, we are working on sample testing for NEO’s proprietary nanocoating solution to produce low-cost, long-lasting silicon anode materials. NEO is on-track of commercializing its pipeline and recognizing synergies in the silicon value chain. We will shortly provide a full update on our pilot plant progress, developments with partners, and IP expansion.”
About NEO Battery Materials Ltd.
NEO Battery Materials Ltd. is a Vancouver-based resource company focused on battery metals and materials. The Company has staked new mining claims in Golden, BC, along a strike with a quartzite bed, targeting silica in the quartzites for a total of 467 hectares. NEO is also focusing on developing silicon anodes, which provide improvements in capacity and efficiency over lithium-ion batteries using graphite in their anode materials. The Company intends to become an integrated silicon producer and anode 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 Directors
President and CEO
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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