INTERNATIONAL BATTERY METALS LTD. ANNOUNCES CHANGE IN FINANCIAL YEAR-END

Rhea-AI Summary

International Battery Metals Ltd. (CSE: IBAT) has announced a change in its financial year-end from January 31 to March 31 at the request of its auditor, Crowe MacKay LLP, due to resource constraints. This decision impacts the reporting structure for the company's financial periods and requires adjustments in interim and annual financial statements, which will be filed on SEDAR. The company, recognized for its innovative mobile Modular Direct Lithium Extraction technology, aims to enhance lithium recovery while minimizing environmental effects.

Positive

• International Battery Metals is recognized as the first to build and operate a mobile Modular Direct Lithium Extraction plant at commercial scale.
• The company's patented extraction technology offers superior lithium recovery from brine compared to traditional methods.
• The new financial year-end may allow for improved resource allocation and financial reporting stability.

Negative

• None.

VANCOUVER, BC, Jan. 17, 2023 /PRNewswire/ - International Battery Metals Ltd. (the "Company") (CSE: IBAT) announces that it has changed its financial year-end from January 31 to March 31. The change in financial year-end has been made following the request from the Company's auditor, Crowe MacKay LLP (the "Auditor"), due to the Auditor's resource constraints.

For details regarding the length and ending dates of the financial periods, including the comparative periods of the interim and annual financial statements to be filed for the Company's transition year and its new financial year, reference is made to the Notice of Change in Year-End filed by the Company on SEDAR pursuant to Section 4.8 of National Instrument 51-102, a copy of which is available electronically at www.sedar.com.

ON BEHALF OF THE BOARD

"Garry Flowers"

Garry Flowers, Chief Executive Officer

About IBAT

International Battery Metals (IBAT) is the first company in the world to successfully design, build and operate a mobile, Modular Direct Lithium Extraction (MDLE) plant at commercial scale with lithium brine. IBAT's patented extraction technology is proven to recover more lithium from brine than traditional methods, while offering a far superior environmental performance. IBAT's technology can be built, deployed and brought on-line in a fraction of the time, and at a fraction of the cost of traditional lithium mining models.

Forward-looking and cautionary statements

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This release may contain statements within the meaning of safe harbour provisions as defined under securities laws and regulations. This release may contain certain forward – looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of the Company with respect to the same. By their nature, forward – looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward – looking statements.

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SOURCE International Battery Metals Ltd.

FAQ

What is the new financial year-end for International Battery Metals Ltd. (IBATF)?

The new financial year-end for International Battery Metals Ltd. (IBATF) is March 31.

Why did International Battery Metals change its financial year-end?

The financial year-end was changed at the request of the company's auditor, Crowe MacKay LLP, due to resource constraints.

What is the significance of the change in financial year-end for IBATF?

The change affects the reporting of interim and annual financial statements and may provide better alignment with operational planning.

How does International Battery Metals' extraction technology work?

International Battery Metals employs mobile Modular Direct Lithium Extraction technology, which recovers lithium from brine more effectively than traditional methods.

Where can I find more information about IBATF's financial reporting?

More information can be found on SEDAR, especially in the Notice of Change in Year-End filed by the company.