12:43 PM EST, 12/03/2024 (MT Newswires) -- NEO Battery Materials ( NBMFF ) on Tuesday said operations at its research and development scale-up center in South Korea, are not affected due to the country's president's Tuesday declaration of emergency martial law.

The battery-anode company said the center is expected to remain fully operational, and current projects and developments would proceed as planned.

"The continuity of operations is the company's top priority, and NEO has implemented measures to ensure this remains uncompromised," the company said in a press release.

South Korean President Yoon Suk Yeol on Tuesday declared martial law as he claimed the opposition-controlled Parliament is paralyzing the government. The decree, which prohibits political activities, rallies and demonstrations, and subjects all media to martial law control, was immediately voted down by the Parliament, but the Washington Post is reporting military officials say the decree remains in effect until lifted by the president.

Additionally, in a separate press release, NEO said Roberto Fia resigned from its board of directors, effective November 29.

NEO shares were last seen down $0.07 to $0.83 on the TSX Venture Exchange.

Price: 0.83, Change: -0.07, Percent Change: -7.78