Battery X Metals Announces Upsizing of Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
Battery X Metals Announces Upsizing of Non-Brokered Private Placement
VANCOUVER, British Columbia – August 26, 2024 – Battery X Metals Inc. (CSE:BATX) (OTCQB:BATXF)
(FSE:R0W, WKN:A3EMJB) ("Battery X Metals" or the "Company") announces that, further to its news
release dated August 15, 2024, it intends to upsize its previously announced non -brokered private
placement financing (the “ Private Placement”) to up to 2,000,000 units of the Company (“ Units”) at a
price of $0.10 per Unit, for aggregate gross proceeds of up to $200,000.
Each Unit shall consist of one (1) common share in the capital of the Company (each, a “ Share”) and one
(1) transferable Share purchase warrant of the Company (each a “ Warrant”), with each Warrant
exercisable to acquire a common share of the Company (each, a “Warrant Share”) at a price of $0.10 per
Warrant Share for a period of 24 months from the date of closing (the “Closing Date”).
Closing of the Private Placement is anticipated to occur on or about September 3, 2024, and is subject to
certain conditions, including, but not limited to, the receipt of all necessary regulatory and other
approvals, including the approval of the Canadian Securities Exchange.
The net proceeds of the Private Placement are intended to be used for general working capital and
outstanding payables. The securities issued under the Private Placement will be subject to a statutory hold
period expiring four months and one day from the Closing Date.
Insiders may participate in the Private Placement and will be considered a related party transaction
subject to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions
("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority
shareholder approval requirements provided under subsections 5.5(a) and 5.7(a) of MI 61 -101 on the
basis that participation in the Private Placement by insiders will not e xceed 25% of the fair market value
of the Company's market capitalization. No finder's fees are payable in connection with the Private
Placement.
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 Inc. (CSE:BATX) (OTCQB:BATXF) (FSE:R0W, WKN:A3EMJB) is dedicated to advancing the
clean energy transition through the development of proprietary lithium-ion battery technologies and
exploring domestic battery and critical metals resources. The Company and its portfolio companies focus
on testing and extending electric vehicle (EV) battery lifespan, recovering valuable battery metals from
end-of-life lithium-ion batteries, and exploring domestic battery and critical metals resources.
Battery X Metals owns 49% of Lithium-ion Battery Renewable Technologies Inc. (LIBRT), which develops
technology to improve EV battery longevity and health diagnostics. LIBRT holds the exclusive North
American license for BatteryMap AI, an AI model with a comprehensive patent portfolio for precise
battery monitoring and prediction, extensively trained on vast amounts of real-world data.
The Company's wholly-owned subsidiary, Battery X Recycling Technologies Inc., in collaboration with the
University of British Columbia (UBC), pioneers advanced EV battery metal recovery technologies. With a
focus on recovering battery -grade metals, includi ng lithium, nickel, cobalt, manganese, copper, and
graphite, from the residual material of shredded lithium -ion batteries known as black mass, utilizing an
eco-friendly proprietary froth flotation separation process.
Battery X Metals' Y Lithium Project in Northern Saskatchewan spans 5,855 hectares and shows significant
potential for lithium -cesium-tantalum pegmatites. The Company also owns the Nunavik, QC Leaf River
Project, and the Abitibi, QC Reservoir -Dozios Project , each covering approximately 3,500 hectares and
located near key lithium exploration sites. Additionally, Battery X Metals holds The Belanger Property
located in one of Canada’s most prolific gold mining districts, Red Lake, Ontario. Battery X Metals als o
holds an equity stake in Premier Silver Corp., which owns the Mallay Mine & Processing Plant in Peru. This
diversification enhances Battery X Metals' portfolio, offering opportunities in both battery and precious
metals sectors.
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
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts
responsibility for the adequacy or accuracy of this release).
Cautionary Statement Regarding Forward Looking Information
This news release includes certain statements and information that may constitute forward -looking
information within the meaning of applicable Canadian securities laws. Forward-looking statements relate
to future events or future performance and reflect the expectations or beliefs of management of the
Company regarding future events. Generally, forward -looking statements and information can be
identified by the use of forward -looking terminology such as “intends” or “anticipates”, or variations of
such words and phrases or statements that certain actions, events or results “may”, “could”, “should”,
“would” or “occur”. This information and these st atements, referred to herein as "forward-looking
statements", are not historical facts, are made as of the date of this news release and include without
limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to
management's expectations and intentions with respect to, among other things, the closing of the Private
Placement, the receipt of all necessary regulatory and other approvals, and the expected use of proceeds
from the Private Placement. In making the forward-looking statements in this news release, the Company
has applied several material assumptions, including without limitation, the ability of the Company to raise
the anticipated proceeds under the Private Placement, the closing of the Private Placement, and the receipt
of all necessary regulatory and other approvals. Although management of the Company has attempted to
identify important factors that could cause actual results to differ materially from those contained in
forward-looking statements or forward-looking information, there may be other factors that cause results
not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward -looking statements and
forward-looking infor mation. Readers are cautioned that reliance on such information may not be
appropriate for other purposes. The Company does not undertake to update any forward -looking
statement, forward-looking information or financial out -look that are incorporated by re ference herein,
except in accordance with applicable securities laws. We seek safe harbor.