AC/DC Battery Metals Closes $2,000,000 Private Placement and Announces
AC/DC Battery Metals Inc..
3028 Quadra Court
Coquitlam, BC, V3B 5X6
604-336-8026
www.acdcbatterymetals.com
NEWS RELEASE
AC/DC Battery Metals Closes $2,000,000 Private Placement and Announces
Commencement of Trading on the TSX Venture Exchange
Coquitlam, BC – July 3, 2024- AC/DC Battery Metals Inc. (the “Company” or “AC/DC”) (TSXV: ACDC)
announces that further to its news releases dated June 17 and June 24, 2024, the Company has closed a non-
brokered private placement financing offering of 40,000,000 units (“Units”) at a price of CAD$0.05 per
Unit for gross proceeds of CAD$2,000,000.
Each Unit is comprised of one common share and one share purchase warrant (“Warrant”). Each
Warrant will entitle the holder thereof to purchase one additional common share of the Company at an
exercise price of CAD$0.06 per share for a period of five years from closing, subject to TSX Venture
Exchange (“Exchange”) approval.
AC/DC Shares will commence trading on the Exchange under the symbol "TSXV: ACDC" at the opening of
market on July 8, 2024. The Company has also launched its website at www.acdcbatterymetals.com. We
are excited about our new website and the information it provides to our shareholders with respect to
the Company’s business. The Company’s Facebook, LinkedIn and Twitter accounts are also available.
Tim Fernback, Company President & CEO states “This is an exciting time for the Company…. a
successfully completed significant financing in a challenging junior capital market and a new public
listing of its shares. We set out on this journey many months ago, and fulfilled a commitment to our
Grid Battery Metals shareholders to offer a valuable share dividend as we spun out the AC/DC
subsidiary. We are looking forward to creating more shareholder value and to the future success of
AC/DC on the TSXV.”
The Company also paid finder fees in the amount of $25,500 cash, 2,471,000 shares and 510,000
warrants in connection with the private placement. The finder fees are subject to Exchange approval.
All securities issued in connection with the private placement are subject to a four-month and a day
hold period expiring on November 4, 2024, in accordance with applicable Canadian Securities Laws.
The proceeds of the Private Placement will be used for exploration and development and for general
working capital purposes.
Insiders of the Company purchased a total of 3,000,000 units under the Private Placement, which is
considered a related party transaction within the meaning of Multilateral Instrument 61-101 Protection
of Minority Security Holders in Special Transactions ("MI 61-101 "). The Company relied on the
exemptions from the valuation and minority shareholder approval requirements of MI 61-101
contained in Sections 5.5(a) and 5.7(a), respectively, of MI 61-101 in respect of such insider
participation. No new insiders and no control persons were created in connection with the private
placement.
Issuance of Stock Options
AC/DC announces that further to its news release dated June 24, 2024, it has granted stock options to
its directors, officers, and consultants to purchase an aggregate of 5,180,000 common shares in the
capital of the Company. The stock options are exercisable for a term of five years at an exercise price of
$0.05 per share. All stock options are granted in accordance with the terms of the Company’s Stock
Option Plan and the policies of the TSX Venture Exchange and are subject to a four month and a day
hold period expiring on November 4, 2024.
About AC/DC Battery Metals Inc.
Nickel Project, British Columbia
The Mount Sidney Williams Group consists of three claim blocks with a total area of 10,569 hectares in
the area surrounding Mount Sidney Williams, both adjoining and near the Decar project of FPX Nickel
Corp., located 100 kilometres northwest of Fort St. James, B.C., in the Omineca mining division. Metallic
mineralization includes nickel, cobalt, and chromium. At least some of the nickel mineralization occurs
as awaruite. The Mitchell Range Group area claim consists of one claim block covering 8,659 hectares
with demonstrated metallic mineralization including nickel, cobalt, and chromium. Nickel cobalt
mineralization has not been well explored, but the presence of awaruite has been documented. The
Company owns a 100% interest in the Nickel Project.
On Behalf of the Board of Directors
“Tim Fernback”
Tim Fernback, President & CEO
Contact Information:
Email: [email protected]
Phone: 604-336-8026
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may
contain forward-looking statements which include, but are not limited to, comments that involve future events and
conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments
that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral
property titles, availability of funds, and others are forward-looking. Forward-looking statements are not
guarantees of future performance and actual results may vary materially from those statements. General business
conditions are factors that could cause actual results to vary materially from forward-looking statements.
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