Battery Mineral Resources Corp. announces attendance at CESCO week in Santiago Chile and interest settlement transactions with holders of convertible debentures
Battery Mineral Resources Corp. announces attendance at CESCO week in
Santiago Chile and interest settlement transactions with holders of
convertible debentures
Vancouver, British Columbia – (April 14, 2023) – 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 C entro 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 debent ures 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.
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The Interest Settlement Transactions wi ll 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 appro val 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 jurisd ictions.
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. (includi ng 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)
www.investorbrandnetwork.com/
310.299.1717 Office
Twitter: @BMRcorp_
www.bmrcorp.com
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
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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 limit ation, the ability of the Company to obtain sufficient
financing to complete exploration and development activities, risks related to share
price and market conditions, the inherent risks involved in the mining, exploration
and development of mineral prope rties, 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.