09:56 AM EDT, 09/23/2025 (MT Newswires) -- NEO Battery Materials ( NBMFF ) Tuesday said it upsized its non-brokered private placement for aggregate gross proceeds of $4 million to approximately $5.5 million.

The upsized offering will include the sale of up to 10.78 million units at $0.51 each.

The company said that apart from the upsizing of the offering, all other terms and details of the non-brokered private placement remain consistent with its earlier disclosure.

The offering is expected to close on or around Sept. 25.

The company received conditional acceptance from the TSX Venture Exchange, and the offering is subject to certain customary conditions.

The company also said that it appointed Admiral Seung-Sub Shim, former chief of Naval Operations of the Republic of Korea (ROK) Navy, and Major General Geun-Young Choi, former Commander of Air Defense & Control of the ROK Air Force, as strategic defense advisors.

The company's shares were last seen up 3.4% to $0.60 on the TSX Venture Exchange.

Price: 0.60, Change: +0.02, Percent Change: +3.45