VANCOUVER, British Columbia, Nov. 23, 2022 (GLOBE NEWSWIRE) — (TSXV: NBM) (OTCQB:NBMFF)
- Received TSXV Conditional Approval for Proposed Change of Business into Industrial, Technology, or Life Sciences Tier 2 Issuer
- Will Require TSXV Review and Approval, Shareholders' Approval, and Additional Conditions Met for Completion of Change of Business
- Annual General and Special Meeting to Be Announced in Subsequent News Release
NEO Battery Materials Ltd. (“NEO” or the “Company“) is pleased to announce that the Company has received conditional approval from the TSX Venture Exchange (the “Exchange“) for the proposed Change of Business (“COB“) into an Industrial, Technology, or Life Sciences Tier 2 Issuer.
NEO Battery Materials is currently on track to commercialize its proprietary silicon anode active materials, NBMSiDE™, with the development of the commercial plant facility in Oseong Industrial Complex, South Korea. The reclassification into an industrial and technology issuer will allow the Company to strategically pursue integration into the lithium-ion battery supply chain, delivering enhanced value to battery manufacturers and EV OEMs.
Mr. Spencer Huh, President and CEO of NEO, commented, “Following the monthslong due diligence with the Exchange regarding our silicon anode commercialization plan, we are glad to …