--News Direct--
Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) (“Battery” or “BMR” or the “Company”) is very pleased to announce that its senior executives will be attending the Centro de Estudios de Cobre y la Mineria (“CESCO”) event in Santiago Chile the week of April 17th to 21st. CESCO Week and the World Copper Conference provide some of the most important commercial and networking opportunities in the mining industry, attracting in excess of 2000 delegates. Both events are renowned for the calibre of delegates and attract CEO participants from the world’s most important miners and smelters.
BMR is also pleased to announce that it has entered into interest settlement agreements with certain holders of convertible debentures of the Company (the “Debenture Holders”) for the payment of accrued interest owing under convertible debentures previously issued by the Company during 2022 by way of issuance of common shares of the Company. Pursuant to these agreements, BMR has agreed to issue an aggregate of 5,202,902 common shares (“Shares”) to settle C$830,038 of accrued interest owing to Debenture Holders (collectively, the “Interest Settlement Transactions”) as follows:
- 1,575,758 Shares at a deemed price of C$0.165 per Share.
- 294,300 Shares at a deemed price of C$0.19 per Share.
- 2,194,800 Shares at a deemed price of C$0.14 per Share; and
- 1,138,044 Shares at a deemed price of C$0.18 per Share.
Max Satel, CFO of BMR, commented: “We are pleased to have received the continued support of our Debenture Holders, who have agreed to accept their first-year interest in the form of Shares. This will further assist the Company in deploying its capital resources towards early re-start activities at the Punitaqui project.”
The completion of the Interest Settlement Transactions is subject to the acceptance of the TSX Venture Exchange (the “TSXV”). All securities issued pursuant to the Interest Settlement Transactions will be subject to a hold period of four months and one day from the date of issuance, in accordance with applicable securities legislation.
The Interest Settlement Transactions will constitute a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the Shares nor the interest owing to the Debenture Holders exceeds 25% of the Company's market capitalization.
About Battery Mineral Resources Corp.
Battery Mineral Resources is a battery minerals company providing shareholders exposure to the global mega-trend of electrification while being focused on growth through cash-flow, exploration, and acquisitions in favourable mining jurisdictions. Battery Mineral’s mission is the discovery, acquisition, and development of battery metals (namely cobalt, lithium, graphite, and copper), in North America, South America and South Korea, to become a premier and responsible supplier of battery minerals to the electrification marketplace. BMR is currently pursuing a near-term resumption of operations of the Punitaqui Mining Complex, a past copper-gold producer, in the Coquimbo region of Chile. BMR is the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp in Ontario, Canada, and continues to pursue a focused program to build on the recently announced, +1-million-pound high-grade cobalt resource at McAra. In addition, Battery Mineral owns 100% of ESI Energy Services, Inc. (including ESI’s wholly owned USA operating subsidiary, Ozzie’s, Inc.), a profitable mainline pipeline and renewable energy equipment rental and sales company with operations in Alberta, Canada and Arizona, USA. Battery Mineral Resources is based in Canada and its shares are listed on the Toronto Venture Exchange under the symbol “BMR” and on the OTCQB under the symbol “BTRMF”. Further information about BMR and its projects can be found on www.bmrcorp.com.
For more information, please contact:
Martin Kostuik, CEO
Phone: +1 (604) 229 3830
Corporate Communications
IBN (InvestorBrandNetwork)
310.299.1717 Office
editor@investorbrandnetwork.com
Twitter: @BMRcorp_
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
Forward Looking Statements:
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of the Company on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain sufficient financing to complete exploration and development activities, the ability of the Company to secure the Advances under the Loan Agreement, timing of the completion of the Company’s audit, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the ability of the Company to meet its anticipated development schedule, government regulation and fluctuating metal prices. Accordingly, readers should not place undue reliance on forward-looking statements. Battery undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein, whether as a result of new information or future events or otherwise, except as may be required by law.
Contact Details
Martin Kostuik, CEO
+1 604-229-3830
Company Website
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