Battery Mineral Announces Removal of Trading Halt
BATTERY MINERAL ANNOUNCES REMOVAL OF TRADING HALT
Vancouver, British Columbia – (March 18, 2021) – Battery Mineral Resources Corp.
(TSXV: BMR) ("Battery" or the "Company") announced today that the TSX Venture
Exchange (the “ TSXV”) has agreed to lift the trading on its common shares. on
Monday, March 22, 2021.
The common shares were halted in connection with the Company’s announcement
that its w holly-owned subsidiary Minera BMR SpA ha d entered into an agreement
with Minera Altos de Punitaqui Limitada (“MAP”, a wholly-owned subsidiary of Xiana
Mining Inc. (“Xiana”), to acquire the Punitaqui Mining Complex, a copper-gold mine
located in the Coquimb o region of Chile (the “ Punitaqui Acquisition ”). In
connection with the the Punitaqui Acquisition, the Company has entered into a loan
purchase agreement with Bluequest Resources AG (“Bluequest”) pursuant to which
the Company will acquire Bluequest’s inte rest in secured loan obligations with a
principal amount of US$10,000,000 owed by Xiana to Bluequest (the “ Xiana
Indebtedness”) and all associated rights, including Bluequest’s security interest in
MAP and the Punitaqui Mine Complex. Acquiring the Xiana Indebtedness and the
associated security will enable the Company to acquire its leasehold interest in the
Punitaqui Mine Complex free and clear of the prior claims of any third party secured
creditors.
The Punitaqui Acquisition is a “fundamental acqu isition” pursuant to the policies of
the TSXV and, accordingly, the common shares were halted from trading on the TSXV
pending review of documentation regarding the Punitaqui Acquisition.
Completion of the Punitaqui Acquisition is subject to a number of closing conditions,
including approval of the TSXV and the completion of its previously announced private
placement of up to $15,000,000 of common shares (the “Private Placement”).
About Battery Mineral Resources Corp.
Battery is a Canadian-based, multi-commodity resource company. Battery is engaged
in the discovery, acquisition , and development of battery metals (cobalt, nickel &
copper) and precious metals (silver & gold) mining projects in Canada, with additional
cobalt, lithium and graphite projects in th e United States and South Korea. Battery
is the largest mineral claim holder in the historic Gowganda Cobalt -Silver Camp,
Canada, with various high-grade primary cobalt silver-nickel-copper targets located
in the Cobalt Belt of Ontario and Quebec. In addit ion, Battery owns approximately
89.2% of ESI Energy Services, Inc., a pipeline equipment rental and sales company
with operations in Leduc, Alberta and Phoenix, Arizona.
For further information, please contact:
Battery Mineral Resources Corp.
Laz Nikeas
Phone: +1 (604) 229 3830
Email: [email protected]
Forward Looking Statements
This news release includes certain “forward -looking statements” under applicable
Canadian securities legislation, including statements related to the completion of
Punitaqui Acquisition , the acquisition of the Xiana Indebtedness and the Private
Placement. Actual future results may differ materially. 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 exp ressed 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 co mplete the Punitaqui Acquisition,
obtaining all required regulatory approvals necessary to complete the Punitaqui
Acquisition and the acquisition of the Xiana Indebtedess, risks related to share price
and market conditions, the inherent risks involved in the mining, exploration and
development of mineral properties , 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 ot herwise 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.