Toronto-based NEO Battery Materials Ltd. has increased the size of its non-brokered private placement to C$5.5 million, up from an initial C$4 million, following strong interest from institutional and strategic investors. The upsized financing will consist of up to 10,784,313 units priced at C$0.51 each. Each unit comprises one common share and one warrant, with each warrant entitling the holder to purchase one share at C$0.70 for two years.
Concurrently, NEO has appointed two retired senior officers of the Republic of Korea (ROK) armed forces as strategic defense advisors: 4-Star Admiral Seung-Sub Shim (Ret.), former Chief of Naval Operations of the ROK Navy, and 2-Star Major General Geun-Young Choi (Ret.), former Commander of Air Defense & Control of the ROK Air Force. In their advisory roles, Admiral Shim and Major General Choi will lend their expertise in defense procurement and assist in aligning NEO’s silicon-enhanced battery solutions with advanced defense platforms. Key applications include unmanned aerial systems (UAS), unmanned underwater vehicles (UUV), and other military mobility systems that demand high performance, extended mission endurance, and robust safety standards.
The private placement is scheduled to close on or about September 25, 2025, subject to customary conditions, including final acceptance by the TSX Venture Exchange. All other terms of the offering remain consistent with the company’s September 22 disclosure, which announced a letter of intent for an operational battery component manufacturing facility lease and the initial private placement offering.
NEO Battery Materials specializes in low-cost, silicon-enhanced materials and components designed to extend runtime and enable ultra-rapid charging of lithium-ion batteries. Its patent-protected manufacturing process supports a range of applications, from drones and robotics to energy storage systems and electric vehicles. With this financing round and the addition of high-level defense advisors, NEO aims to accelerate the development and commercialization of its battery solutions for both commercial and defense sectors.
Source: Neo Battery Materials
