January 17, 2023 (Resource) – (TSXV: NBM) (OTCQB: NBMFF)

  • Authorization of Building And Construction License for Silicon Anode Commercial Plant in Oseong Foreign Financial Investment Area, Pyeongtaek City
  • Proactively Taken Part In Conversations to Protect Reputable, Long-Term Investors for Strategic Investments
    • Suitable Strategic Investors to Accept NEO to Expand Organization Initiatives
  • Targeting Non-Dilutive Financing Opportunities from South Korean Federal Governments’ Environment-friendly and also Tidy Modern Technology Plans

NEO Battery Products Ltd. (“NEO” or the “Company”), a low-priced silicon anode products programmer that makes it possible for longer-running, rapid-charging lithium-ion batteries, is very pleased to reveal that the building license for the Firm’s Silicon Anode Commercial Plant has actually been authorized by the City of Pyeongtaek. With a first ability of 240 heaps each year, the Business Plant will certainly can providing silicon anodes to approximately 160,000 electrical cars, and also NEO strategies to target the full-fledged ability at a minimal manufacturing of 2,000 heaps each year.

The building license has actually been authorized after a strenuous evaluation and also due persistance duration with the pertinent divisions of Pyeongtaek City and also exterior companies. As gone over, the Firm will certainly continue to the invite for quote (IFB) to pick the optimal specialist for building, and also the first building stage will certainly consist of website clearance and also standard civil design to get ready for the build-out of the Business Plant.

Mr. Spencer Huh, Head Of State and also Chief Executive Officer of NEO, commented, “We are very delighted to reveal this long-awaited turning point objective to launch the very first steps of our business plant’s building. From the energetic, persistent job of our commercialization design group, we have actually finished the due persistance duration with the city earlier than anticipated to obtain the authorization, and also we will certainly remain to accelerate the following procedures to begin and also develop the Firm right into an essential provider of silicon anodes in the EV battery supply chain immediately.”

Strategic Investments & Non-Dilutive Financing from Green/Clean Modern Technology Plans for Business Plant Building And Construction & Devices
NEO Battery Products is proactively involved to safeguard trusted, long-lasting financiers, that include institutional financiers and also companies, that will certainly give calculated financial investments for building and also tools. Administration regards calculated financiers that have the required sources, expertises, and also network can sustain NEO’s company campaigns to increase in the worldwide EV lithium-ion battery field. In concurrence with commercialization progression, the Firm focuses on lessening equity dilution and also attaining the ideal resources framework degree.

In Addition, via NBM Korea Ltd., NEO’s South Oriental subsidiary, the administration group remains in energetic conversation with several South Oriental banks to safeguard calculated financial debt funding at desirable terms with low-interest prices.

“As we get on timetable to continue to the following phases, the building license authorization is a significant stimulant that supplies a beneficial setting to bring in the optimal calculated financial investments as well as additionally acts as a symbolic turning point to our company improvements. We intend to supply succeeding information that strengthens both our company and also economic setting to develop considerable worth for our investors,” mentioned Mr. Spencer Huh.

Together with calculated financial investments, South Oriental governmental non-dilutive funding from eco-friendly and also tidy modern technology plans will certainly be targeted, and also NEO Battery Products will certainly work together and also collaborate with the Gyeonggi District to safeguard different financing possibilities. In July 2020, the federal government introduced the Oriental New Offer to sustain eco-friendly framework and also technology in eco-friendly sectors, infusing roughly 135 billion USD to develop 1.9 million work by 2025. Similarly, both government and also rural South Oriental federal governments are producing extra plans to motivate carbon nonpartisanship and also zero-emission campaigns.

Regarding NEO Battery Products Ltd.
NEO Battery Products Ltd. is a Vancouver-based business concentrated on electrical automobile lithium-ion battery products. NEO has a concentrate on generating silicon anode products via its exclusive single-step nanocoating procedure, which supplies renovations in ability and also effectiveness over lithium-ion batteries utilizing graphite in their anode products. The Firm means to come to be a silicon anode energetic products provider to the electrical automobile sector. For more details, please go to the Firm’s site at: https://www.neobatterymaterials.com/.

In behalf of the Board of Supervisors
Spencer Huh
Head Of State and also Chief Executive Officer

This press release consists of particular progressive declarations in addition to administration’s goals, methods, ideas and also intents. Onward looking declarations are regularly recognized by such words as “might”, “will certainly”, “strategy”, “anticipate”, “prepare for”, “price quote”, “mean” and also comparable words describing future occasions and also outcomes. Progressive declarations are based upon the present point of views and also assumptions of administration. All progressive info is naturally unpredictable and also based on a selection of presumptions, threats and also unpredictabilities, consisting of the speculative nature of mineral expedition and also advancement, rising and fall asset costs, the efficiency and also expediency of innovations which have actually not yet been examined or confirmed on an industrial range, affordable threats and also the schedule of funding, as explained in even more information in our current safeties filings readily available at www.sedar.com. Real occasions or outcomes might vary materially from those forecasted in the progressive declarations and also we warn versus positioning excessive dependence thereon. We presume no commitment to modify or upgrade these progressive declarations other than as called for by suitable legislation.

Neither TSX Endeavor Exchange neither its Law Solutions Carrier (as that term is specified in the plans of the TSX Endeavor Exchange) approves obligation for the competence or precision of this launch.

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