NEO BATTERY MATLS LTD - NBMFF STOCK NEWS

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has closed a non-brokered private placement of 2,000,000 units at $0.40 CAD per unit, raising gross proceeds of $800,000 CAD. Each unit includes one common share and one-half warrant, with each whole warrant exercisable at $0.75 CAD for 24 months. The proceeds will fund R&D activities for the company's silicon anode technology and working capital. No finder's fees will be paid, and shares are subject to a four-month plus one-day hold period. The offering requires final TSXV acceptance.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has signed a non-binding Letter of Intent (LOI) with Lotus Energy Recycling to form a joint venture for recycling end-of-life photovoltaic cells and solar panels in North America. The JV will focus on recovering valuable silicon materials for battery applications, particularly for the lithium-ion battery supply chain.

Key points of the LOI include:

• Establishing physical operations in Canada for collecting, dismantling, and recycling PV cells and solar panels
• Leveraging Lotus' recycling expertise and NEO's silicon anode manufacturing knowledge
• Optimizing recovered silicon for battery applications
• Conducting joint R&D to refine recycling processes and technologies

The initiative aims to create a sustainable, resilient, and circular supply chain for battery materials and cell production. NEO has already begun testing and evaluating Lotus' recycled silicon feedstock for potential use in their silicon anode materials.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has signed a Joint Development Agreement (JDA) with a Fortune Global 500 multinational chemical materials company. The partnership aims to jointly develop and enhance silicon anode materials with advanced chemical coatings and methods for EV lithium-ion batteries. The collaboration is expected to improve silicon's structural durability and limit capacity degradation in batteries.

Key points:

• JDA Partner is a multi-billion dollar company with 40,000+ employees in over 50 countries
• Both parties intend to commercialize jointly enhanced silicon anodes upon successful development
• NEO Battery Materials CEO Spencer Huh views this as a major business milestone
• The partnership is expected to generate unmatched battery performance compared to state-of-the-art products

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has closed the Share Purchase Agreement to acquire 20% of NBM Korea Co., from Automobile & PCB Inc. for $1,708,707 CAD. The transaction, classified as a Non-Arm's Length and Reviewable Transaction, is pending final acceptance from the TSX Venture Exchange. NEO Battery Materials, a low-cost silicon anode materials developer for lithium-ion batteries, aims to enable longer-running and ultra-fast charging batteries for electric vehicles and energy storage systems. The company is working towards becoming a globally-leading producer of silicon anode materials.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has signed a Memorandum of Understanding (MOU) with the University of Windsor to advance battery and energy storage technologies for Canada's electric vehicle (EV) ecosystem. The partnership aims to:

• Optimize silicon anodes and fabricate multi-layer battery cells
• Develop new component materials
• Cultivate highly qualified talent and workforce
• Commercialize innovations with new intellectual property
• Jointly apply for provincial/federal funding programs

This collaboration leverages industry-academia synergies to drive innovation in battery and sustainable mobility technologies, potentially benefiting the EV sector, Canadian economy, and society.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has announced significant advancements in its silicon anode technology for lithium-ion batteries. The company has achieved longer battery capacity retention while maintaining low costs through a two-way coating enhancement. This improvement has resulted in record-high Coulombic efficiency levels that meet or exceed industry standards.

Key developments include:

• Compatibility with carbon-based materials, enabling silicon-carbon composite (Si-C) anode development
• Planned release of a new Si-C anode product
• Initiation of recycled silicon evaluations with partners
• Certification as a recognized Corporate Research Institute by South Korea's Ministry of Science & ICT

These advancements position NEO Battery Materials to potentially become a leading producer of silicon anode materials for the electric vehicle and energy storage industries.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF), a low-cost silicon anode materials developer, provided a corporate update on its NBMSiDE® product development and commercialization plans. Key highlights include:

- New collaborations with INNOX eco-M and Lotus Energy Recycling
- Established relationships with battery and EV manufacturers in China, Japan, India, France, and Scandinavia
- Achieved process innovation scaling production capacity to 4 tons per year
- Commenced graphite anode compatibility testing and plans for full cell testing with LFP & NCM cathodes
- In late-stage discussions to finalize location for mass production in Canada

The company is executing its 5-pillared strategy for 2024, focusing on partnerships, product development, and commercialization despite EV market slowdown.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has announced a Collaboration Agreement with Lotus Energy Recycling, an Australian solar PV recycler. This partnership aims to strengthen NEO's recycled silicon anode initiative and enhance its supply chain resiliency. Key points include:

1. Lotus Energy's proprietary technology produces 99.9% pure recycled PV silicon.
2. Lotus plans to reach 3,600 kg per annum production in 2024, expanding to 120,000 kg per annum in Melbourne, Sydney, and Germany by 2026.
3. The companies will explore joint venture opportunities for North American silicon recycling.
4. They will apply for governmental funding for international cooperation.
5. The partnership aligns with NEO's strategy to diversify silicon sources and enhance commercial viability of recycled silicon for anode materials.

NEO Battery Materials announced a collaboration with South Korean company INNOX eco-M, a subsidiary of INNOX Holding Corp, to develop silicon anode products using high-purity recycled silicon. The partnership aims to enhance electrochemical performance, reduce manufacturing costs, and promote sustainable, ESG-friendly anode products. This collaboration is expected to diversify NEO's supply chain away from China, securing a low-cost, long-term supply of silicon inputs. INNOX eco-M has facilities in South Korea, China, and plans to expand in Vietnam. The partnership marks a significant business development milestone for NEO, aligning with their strategy to establish commercial collaborations in the battery supply chain.