NEO battery materials business changes approved by TSXV

TORONTO – NEO Battery Materials Ltd. (TSXV: NBM) (OTCQB: NBMFF), a company specializing in the development of silicon anode materials for lithium-ion batteries, announced that it has received final approval from the TSX Venture Exchange to reclassify as an industry, technology or life sciences Issuers in Level 2. This change is effective Thursday, January 11, 2024, and is consistent with the company’s focus on developing battery materials technologies and programs. The initiative will facilitate the implementation of strategic integrated projects within the global battery supply chain.

The company’s proprietary NBMSiDE® silicon anode active material is key to its strategy to improve the performance of lithium-ion batteries with longer run times and fast charging capabilities. The change in NEO’s battery material classification reflects its commitment to commercializing the technology, which is expected to play a significant role in the growing energy storage and electric vehicle sectors.

The resumption of trading of the Company’s common shares on the TSX will coincide with the impact of the business changes.

Headquartered in Canada, NEO Battery Materials has positioned itself in the battery technology industry with its low-cost, patent-protected manufacturing process. Their advancements in anode material technology are designed to deliver battery performance superior to existing technologies, primarily for use in electric vehicles, electronics and energy storage systems.

This development is based on press release statements, including forward-looking statements that involve risks and uncertainties.

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