NEO Battery Secures C$7 Million for Gimje Facility Upgrades
NEO Battery Materials has raised up to C$7 million through a fully subscribed private placement to upgrade its Gimje facility in South Korea. The financing, comprising 11.67 million units at C$0.60, is pending approval from the TSX Venture Exchange and is expected to close around January 19. The funds will primarily be allocated for new manufacturing equipment focused on cell assembly and formation.
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NEO Battery Materials raised up to C$7 million through a fully subscribed private placement to upgrade its Gimje facility in South Korea. The financing, consisting of 11.67 million units at C$0.60, is pending approval from the TSX Venture Exchange and is expected to close around January 19. Funds will be used for new manufacturing equipment, particularly for cell assembly and formation.
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