04:19 PM EDT, 08/14/2026 (MT Newswires) -- NEO Battery Materials ( NBMFF ) said Friday after trade that it raised C$4 million from a private placement of units.

The company issued 20-million units at C$0.20 each under the listed issuer financing exemption. Each unit consists of a share and a three-year warrant to buy a share at C$0.30.

Proceeds will be used to advance the company's commercial battery manufacturing operations in South Korea.

NEO Battery shares closed unchanged at C$0.17 per share on the Toronto Stock Exchange.