NEO BATTERY MATLS LTD - NBMFF STOCK NEWS

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has confirmed that its operations remain stable and unaffected by South Korea's recent declaration of emergency martial law. The company's R&D Scale-Up Centre in South Korea continues to operate normally, with all projects proceeding as planned. The martial law, which was declared due to political gridlock between ruling and opposing parties, has already been ended by the South Korean National Assembly as of December 4, 2024. The company emphasizes that there are no disruptions to its activities in South Korea and continues its focus on developing silicon anode materials for lithium-ion batteries.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) announces the resignation of Roberto Fia from the Board of Directors, effective November 29, 2024. The company is working to transition its board with new members strategically aligned with its battery business. Additionally, NEO has rescheduled its upcoming corporate webinar from December 5 to December 13, 2024, at 7 PM EDT. The webinar will discuss the company's latest developments in silicon anode materials and strategies for addressing current EV and battery market challenges.

NEO Battery Materials (NBMFF) has signed an MOU with OCSiAl, the world's largest producer of single wall carbon nanotubes (SWCNTs). The partnership aims to develop high-specification silicon anodes using OCSiAl's TUBALL™ SWCNT products as conductive additives and coating materials. The collaboration targets improvements in three key areas: battery cycling stability, initial specific capacity, and coulombic efficiency. TUBALL™ has demonstrated the ability to increase battery cycle life by up to 4 times when added to silicon anodes, even at ultra-low concentrations. The primary applications include electric vehicles and electronics, where enhanced longevity and energy efficiency are in high demand.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has announced a corporate webinar scheduled for December 5, 2024, at 7 PM EDT to discuss their silicon anode materials technology developments and commercialization strategy. The webinar will cover recent business advancements, market challenges in the EV and battery sector, partnerships, and upcoming milestones. Additionally, the company has granted 1,350,000 stock options to directors and officers at an exercise price of $0.94, expiring November 25, 2029.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has appointed Mr. Seok Hyung Lee as a new independent director of both the Company and NBM Korea, effective November 22, 2024. Lee brings over 50 years of legal and public service experience, having served as Lead Attorney for a Former South Korean President and Presiding Judge of the Seoul High Court. The company also announced a Battery Board Transition Initiative to restructure its board of directors with industry, finance, and governmental professionals over the next six months. As part of this transition, Christopher Chung has resigned as director.

NEO Battery Materials has been selected as a consortium partner in a CAD$20M recycled silicon battery project organized by the South Korean Ministry of Trade, Industry, and Energy. The 5-year project, led by Hansol Chemical, focuses on developing high-performance silicon anode materials from recycled semiconductor and photovoltaic wafer manufacturing waste. NEO will collaborate with major partners including INNOX eco-M and LiBEST to develop silicon anode materials for high-content silicon anode batteries, leveraging approximately 900 tons of waste silicon produced annually in South Korea.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has signed a Memorandum of Understanding with Linde Korea to advance the commercialization of its silicon anode technology. The collaboration focuses on incorporating Linde's industrial gases, specifically nitrogen and argon, as critical components in NEO's manufacturing process. These gases will play a vital role in maintaining production quality and minimizing oxidation risks. The partnership aims to support NEO's transition from pilot-scale to commercial-scale production, with Linde providing engineering expertise to optimize the manufacturing process. No material terms or considerations were disclosed for this MOU.

NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) has entered into a non-binding letter of intent with an undisclosed Canadian municipality to lease approximately 8 acres of land for its commercial silicon anode manufacturing facility. The facility plans to produce 5,000 tons annually of silicon anode materials for lithium-ion batteries. The agreement includes tax incentives and favorable lease rates compared to commercial market properties. The development aligns with NEO's strategy to capitalize on Canada's aggressive government policies and financial support for battery projects, particularly as Canada ranked first in BloombergNEF's 2024 Global Lithium-Ion Battery Supply Chain Ranking.

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.