Battery X Metals Announces Exercise of Call Right to Acquire All Remaining Shares of Lithium-Ion Battery Diagnostics and Rebalancing Technology Company
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
Battery X Metals Announces Exercise of Call Right to Acquire All Remaining
Shares of Lithium-Ion Battery Diagnostics and Rebalancing Technology Company
VANCOUVER, British Columbia – March 20, 2025 – Battery X Metals Inc.
(CSE:BATX)(OTCQB:BATXF)(FSE:R0W, WKN:A3EMJB) (“Battery X Metals” or the “ Company”) an energy
transition resource exploration and technology company, announces that, further to the Company’s news
release dated June 6, 2024, and pursuant to the terms of the share exchange agreement referenced
therein, dated April 10, 2024, as amended and restated on May 1, 2024, and further amended on May 31,
2024 (collectively, the “ Share Exchange Agreement ”), it has exercised its call right (the “ Call Right”) to
acquire the remaining 51% of the common shares of Li-ion Battery Renewable Technologies Inc. (“LIBRT”)
from the LIBRT shareholders in consideration for approximately 3,030,296 common shares (the “Shares”)
of the Company (as adjusted for the Company’s 3.3:1 share consolidation dated December 10, 2024)
(the “Acquisition”). The exercise of the Call Right and the Acquisition are subject to compliance with the
policies of the Canadian Securities Exchange (the “ CSE”). No finder’s fees are payable in connection with
the Acquisition.
On closing of the Share Exchange Agreement, the Company, the LIBRT shareholders, and LIBRT entered
into a shareholders’ agreement dated June 6, 2024 (the “ Shareholders Agreement”), pursuant to which
the Company was granted the Call Right. Following the exercise of the Call Right, the Acquisition is subject
to a five day comment period in accordance with the policies of the CSE, after which the Company intends
to close the Acquisition.
Since acquiring its initial 49% interest in 2024, as disclosed in the Company’s news releases dated
September 27, 2024, and October 2, 2024, LIBRT has reached key milestones in technology development,
strengthened its partnership with Beijing Pengneng Science & Technology Ltd. through a Second Amended
Agreement, and made significant progress in the design, development, and production of its Diagnostic
and Rebalancing Machine Prototype 2.0, which is scheduled for delivery in April 2025. Additionally, LIBRT
has engaged a leading patent law firm to file provisional patents for its lithium-ion battery diagnostic and
rebalancing technology. In light of these advancements and ongoing progress, the Company is actively
pursuing the consolidation of its interest in LIBRT by acquiring all remaining outstanding shares.
Terms of the Acquisition
Of the 3,030,296 Shares of the Company to be issued on closing of the Acquisition, it is anticipated that
1,818,176 Shares to be issued to management and key personnel of LIBRT will be subject to a 12-month
voluntary release escrow on a pro rata basis. This restriction will be implemented through the use of
restrictive legends imprinted on the share certificates or DRS statements, as applicable, following closing.
Certificates and DRS statements (as applicable) for these escrowed shares will be separated into 13
separate certificates or statements, which will be delivered at closing to each applicable vendor. Each
certificate or statement, except for the first, which will not be subject to a restrictive legend, will carry a
distinct hold period expiring in consecutive 30-day intervals, resulting in a total of 12 release periods from
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the closing. The remaining 1,212,120 Shares issuable upon closing will not be subject to any restrictions.
Additionally, each vendor has agreed not to sell, transfer, assign, or dispose of any Shares exceeding 10%
of the daily trading volume on the CSE unless otherwise approved in writing by the Company.
The closing of the Acquisition is subject to customary closing conditions, including compliance with CSE
policies, and is expected to occur on or before March 28, 2025.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the
United States, nor shall there be any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities being offered have not been, nor will they be,
registered under the U.S. Securities Act of 1933, as amended (the “ 1933 Act”), or under any U.S. state
securities laws, and may not be offered or sold in the United States absent registration or an applicable
exemption from the registration requirements of the 1933 Act and applicable state securities laws.
About Battery X Metals Inc.
Battery X Metals (CSE:BATX) (OTCQB:BATXF) (FSE:R0W, WKN:A3EMJB) is an energy transition resource
exploration and technology company dedicated to advancing domestic battery and critical metal resource
exploration while developing proprietary technologies. The Company focuses on exploring battery metals,
recycling battery materials, and extending the lifespan of lithium ion and electric vehicle (EV) batteries
through its portfolio company, LIBRT1. For more information, visit batteryxmetals.com.
1 Li-ion Battery Renewable Technologies Inc., 49% owned portfolio company
About Li-ion Battery Renewable Technologies Inc.
Li-ion BaƩery Renewable Technologies Inc. is a development-stage baƩery technology company based in
Vancouver, BC, focused on becoming a leader in lithium-ion baƩery diagnosƟcs and renewal technologies.
LIBRT uƟlizes innovaƟve and proprietary technology to diagnose and extend the lifespan of electric vehicle
(EV) baƩeries. Its baƩery cell rebalancing technology addresses capacity degradaƟon caused by cell
imbalances, helping to extend baƩery life, reduce the need for costly replacements, keep baƩeries out of
landfills, and minimize the demand for mining criƟcal metals. AddiƟonally, LIBRT is developing advanced
diagnosƟc equipment for EV baƩery services.
On Behalf of the Board of Directors
Massimo Bellini Bressi, Director
For further information, please contact:
Massimo Bellini Bressi
Chief Executive Officer
Email: [email protected]
Tel: (604) 741-0444
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements within the meaning of applicable securities laws.
These statements relate to future events or the Company’s future performance and reflect current
expectations, assumptions, and projections. Forward-looking statements include, but are not limited to,
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statements regarding the closing of the Acquisition, anticipated closing conditions and timelines,
compliance with regulatory requirements, and the expected benefits of the transaction. These statements
also encompass LIBRT’s ongoing technology development, the design and expected delivery of its
Diagnostic and Rebalancing Machine Prototype 2.0, progress in securing intellectual property protection,
and the potential impact of LIBRT’s lithium-ion battery diagnostic and rebalancing technology. Forward-
looking statements are subject to a variety of risks, uncertainties, and other factors that could cause actual
events or results to differ materially from those expressed or implied. These risks include, but are not
limited to, the ability to satisfy closing conditions in a timely manner, regulatory approvals, market
conditions affecting the Company’s securities, technical and operational challenges in the
commercialization of LIBRT’s technology, delays in product development, uncertainties regarding
intellectual property filings, and broader economic, geopolitical, and industry-specific risks. Investors are
cautioned not to place undue reliance on forward-looking statements, as actual results may vary
significantly. The Company disclaims any intention or obligation to update or revise forward-looking
statements as a result of new information, future events, or otherwise, except as required by applicable
law. Readers should refer to the Company’s public filings on SEDAR+ for further risk disclosures.