NEO Battery Materials Announces Director Resignation and Updates to Upcoming Corporate Webinar

Rhea-AI Summary

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.

Positive

• Strategic board restructuring aligned with battery business focus
• Ongoing efforts to recruit highly qualified professionals for commercialization

Negative

• Director resignation indicates board instability
• Delay in corporate webinar presentation

TORONTO, Dec. 03, 2024 (GLOBE NEWSWIRE) --

NEO Battery Materials Ltd. (“NEO” or the “Company”) (TSXV: NBM) (OTC: NBMFF), a low-cost silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries, announces that Roberto Fia has resigned from the Company’s Board of Directors effective November 29, 2024. NEO would like to thank him for his contributions to date.

As part of the initiative to transition the existing board of directors into a new set of board members who are strategically aligned with the Company’s battery business (“Battery Board”), the Company is undertaking efforts to retain highly qualified professionals to deliver high impact to NEO’s silicon anode commercialization.

Updates to Upcoming Corporate Webinar

The date of the upcoming corporate webinar on Thursday, December 5, 2024, has been changed to Friday, December 13, 2024, at 7 PM EDT / 4 PM PDT / 9 AM KT (Saturday). As announced, this corporate webinar will address NEO’s latest business and technological advancements in silicon anode materials and strategies for navigating current EV and battery market challenges.

Corporate Webinar Registration Link: https://us06web.zoom.us/webinar/register/WN_150KRS5cQCKKQ0y9P0Pw_g

About NEO Battery Materials Ltd.
NEO Battery Materials is a Canadian battery materials technology company focused on developing silicon anode materials for lithium-ion batteries in electric vehicles, electronics, and energy storage systems. With a patent-protected, low-cost manufacturing process, NEO Battery enables longer-running and ultra-fast charging batteries compared to existing state-of-the-art technologies. The Company aims to be a globally-leading producer of silicon anode materials for the electric vehicle and energy storage industries. For more information, please visit the Company’s website at: https://www.neobatterymaterials.com/.

On Behalf of the Board of Directors
Spencer Huh
Director, President, and CEO
Tel: +1-437-451-7678

For Investor Relations, PR & More Information:
info@neobatterymaterials.com

This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified notably, but not limited to, by the use of forward-looking terminology such as "plans", "expects," or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved", and similar words referring to future events and results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock prices; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with the research and development of advanced technologies; (v) the risk associated with the effectiveness and feasibility of technologies that have not yet been tested or proven on commercial scale; (vi) the risks associated with entering into joint ventures, collaboration agreements, joint development agreements, and similar commercial agreements; (vii) fluctuations in input precursor prices; (viii) the risks associated with uninsurable risks arising during the course of research, development and production; (ix) competition faced by the resulting issuer in securing experienced personnel and financing; (x) access to adequate infrastructure to support battery materials research and development activities; (xi) the risks associated with changes in the technology regulatory regime governing the Company; (xii) the risks associated with the various environmental regulations the Company is subject to; (xiii) risks related to regulatory and permitting delays; (xiv) the reliance on key personnel; (xv) liquidity risks; (xvi) the risk of litigation; and (xvii) risk management, as described in more detail in our recent securities filings available at www.sedarplus.com. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued research and development activities, no material adverse change in precursor prices and development plans to proceed in accordance with plans and such plans to achieve their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations, research and development, and commercialization plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FAQ

Why did Roberto Fia resign from NEO Battery Materials (NBMFF) board?

The press release does not specify the reason for Roberto Fia's resignation from NEO Battery Materials' Board of Directors, which was effective November 29, 2024.

When is NEO Battery Materials (NBMFF) rescheduled corporate webinar?

NEO Battery Materials rescheduled its corporate webinar to Friday, December 13, 2024, at 7 PM EDT / 4 PM PDT / 9 AM KT (Saturday).

What will be discussed in NEO Battery Materials (NBMFF) December 2024 webinar?

The webinar will address NEO's latest business and technological advancements in silicon anode materials and strategies for navigating current EV and battery market challenges.