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VANCOUVER, BC and HOUSTON - International Battery Metals Ltd. (TSXV: IBAT), a micro-cap company with a market capitalization of $5.88 million specializing in lithium extraction technology, has officially appointed Michael Rutledge as its Chief Financial Officer. According to InvestingPro data, the company’s stock has declined about 13% over the past year, trading near $21.14. Rutledge, who has been serving as the interim CFO since Monday, March 6, 2025, brings a wealth of experience to the role, with a background in corporate finance, SEC reporting, and overseeing strategic growth initiatives such as IPOs and mergers and acquisitions.
CEO Joseph Mills expressed confidence in Rutledge’s abilities, highlighting his strong leadership and commitment to advancing the company’s strategic goals, particularly in deploying large-scale commercial Direct Lithium Extraction (DLE) technology. The appointment comes as the company faces financial challenges, with InvestingPro analysis revealing weak gross profit margins and poor free cash flow yield. Get more insights and exclusive financial metrics with an InvestingPro subscription.
In line with his appointment, Rutledge has been granted 450,000 restricted share units (RSUs) by the company, which will vest on the first anniversary of their issuance. An additional 900,000 RSUs will vest once the company completes the construction and financing of two more DLE plants, in addition to the one currently planned. The RSU grants are subject to the terms of the company’s RSU Plan and may vest sooner in the event of a change in control.
International Battery Metals is focused on the advanced extraction of lithium chloride from ground water salt brine deposits. Their proprietary technology, housed in patented extraction towers, allows for the rapid production of lithium chloride with minimal environmental impact. The technology is designed to be modular and transportable, enabling quick deployment and production at customer sites.
This news release also includes forward-looking statements regarding the company’s future performance and events. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially. The company cautions readers not to place undue reliance on these forward-looking statements, which reflect management’s opinions only as of the date of this release.
The announcement is based on a press release statement from International Battery Metals Ltd. With a Financial Health Score of 2.35 (FAIR) according to InvestingPro, investors seeking deeper analysis can access additional ProTips and comprehensive financial metrics through an InvestingPro subscription, helping make more informed investment decisions in the lithium technology sector.
In other recent news, International Battery Metals has appointed Michael Rutledge as its interim Chief Financial Officer. Rutledge, who is a Certified Public Accountant, steps into the role immediately following the departure of Doug Smith. Rutledge’s extensive experience includes serving as CFO for several publicly traded companies, with expertise in corporate finance, SEC reporting, and strategic growth initiatives. The company is actively searching for a permanent CFO and has enlisted the help of executive search firms to find a suitable candidate. International Battery Metals is noted for its lithium extraction technology, which aims to efficiently extract lithium chloride from groundwater salt brine deposits. The company emphasizes that forward-looking statements regarding its CFO search and technology performance are subject to risks and uncertainties. These developments are part of the company’s ongoing efforts to maintain its position in the lithium extraction industry.
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