NEO Battery Materials Confirms Stable and Unaffected Operations Amid South Korea’s Declaration of Emergency Martial Law
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) ha confermato che le sue operazioni rimangono stabili e non sono state influenzate dalla recente dichiarazione di legge marziale di emergenza in Corea del Sud. Il centro di ricerca e sviluppo dell'azienda in Corea del Sud continua a operare normalmente, con tutti i progetti che procedono come pianificato. La legge marziale, dichiarata a causa di uno stallo politico tra i partiti di governo e di opposizione, è stata già revocata dall'Assemblea Nazionale della Corea del Sud il 4 dicembre 2024. L'azienda sottolinea che non ci sono interruzioni alle sue attività in Corea del Sud e continua a concentrarsi sullo sviluppo di materiali per anodi in silicio per batterie agli ioni di litio.
NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) ha confirmado que sus operaciones se mantienen estables y no se han visto afectadas por la reciente declaración de ley marcial de emergencia en Corea del Sur. El Centro de Escalado de I+D de la compañía en Corea del Sur sigue funcionando con normalidad, con todos los proyectos avanzando según lo planeado. La ley marcial, que fue declarada debido a un estancamiento político entre los partidos gobernantes y opositores, ya ha sido levantada por la Asamblea Nacional de Corea del Sur el 4 de diciembre de 2024. La empresa enfatiza que no hay interrupciones en sus actividades en Corea del Sur y continúa su enfoque en el desarrollo de materiales de ánodos de silicio para baterías de iones de litio.
NEO Battery Materials (TSXV: NBM) (OTC: NBMFF)는 자사의 운영이 안정적이며 최근 한국에서 선포된 비상 계엄령의 영향을 받지 않는다고 확인했습니다. 한국에 있는 회사의 연구 개발 확장 센터는 모든 프로젝트가 계획대로 진행되고 있어 정상적으로 운영되고 있습니다. 정치적으로 대치 중인 여당과 야당 간의 교착 상태로 인해 선언된 계엄령은 2024년 12월 4일 한국 국회에 의해 이미 해제가 되었습니다. 회사는 한국 내 활동에 중단이 없으며 리튬 이온 배터리를 위한 실리콘 음극재 개발에 집중하고 있음을 강조합니다.
NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) a confirmé que ses opérations restent stables et sans impact suite à la récente déclaration d'état d'urgence en Corée du Sud. Le Centre d'Accroissement de R&D de l'entreprise en Corée du Sud continue de fonctionner normalement, avec tous les projets avançant comme prévu. L'état d'urgence, déclaré en raison d'une impasse politique entre le parti au pouvoir et l'opposition, a déjà été levé par l'Assemblée nationale sud-coréenne le 4 décembre 2024. L'entreprise souligne qu'il n'y a aucune interruption de ses activités en Corée du Sud et continue de se concentrer sur le développement de matériaux d'anodes en silicium pour les batteries lithium-ion.
NEO Battery Materials (TSXV: NBM) (OTC: NBMFF) hat bestätigt, dass ihre Betriebe stabil und von der kürzlichen Erklärung des Notstandes in Südkorea nicht betroffen sind. Das F&E-Scale-Up-Zentrum des Unternehmens in Südkorea arbeitet weiterhin normal, und alle Projekte verlaufen planmäßig. Das im Rahmen eines politischen Stillstands zwischen den regierenden und oppositionellen Parteien erklärte Kriegsrecht wurde bereits am 4. Dezember 2024 von der südkoreanischen Nationalversammlung aufgehoben. Das Unternehmen betont, dass es keine Unterbrechungen seiner Aktivitäten in Südkorea gibt und weiterhin auf die Entwicklung von Siliziumanodenmaterialien für Lithium-Ionen-Batterien fokussiert ist.
- R&D Scale-Up Centre remains fully operational without disruption
- All current projects and developments proceeding as planned
- None.
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, wishes to provide complete assurance and confirmation to its stakeholders that the recent declaration of emergency martial law in South Korea does not and will not impact the Company’s operations and progress at its Research and Development (R&D) Scale-Up Centre located in the country. As of 1 AM KT, December 4, 2024, the South Korean National Assembly has passed a resolution to end the declaration of emergency martial law.
The South Korean president’s declaration was due to the ongoing political gridlock between the ruling and opposing parties and is not due to an imminent or immediate threat to public safety or business activities. NEO’s R&D Scale-Up Centre will be unaffected and remain fully operational, with current projects and developments proceeding as planned. The continuity of operations is the Company’s top priority, and NEO has implemented measures to ensure this remains uncompromised.
Management acknowledges the concerns that such announcements may raise among stakeholders. However, for this particular circumstance, the Company wishes to emphasize that such concerns are unwarranted and that there are no foreseeable disruptions to its activities in South Korea. The Company appreciates the continued trust and support of its stakeholders as it drives forward its mission of innovating and commercializing advanced battery materials for the global automotive and electronics markets.
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
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