Battery Mineral Resources Corp. Announces Equipment Refinancing by Ozzie’s, Inc. (100%-Owned Subsidiary), Generating Proceeds of US$2 Million
Battery Mineral Resources Corp. Announces Equipment Refinancing by
Ozzie’s, Inc. (100%-Owned Subsidiary), Generating Proceeds of US$2
Million
Vancouver, British Columbia – (Dec 29, 2022) – Battery Mineral Resources Corp.
(TSXV: BMR) (OTCQB: BTRMF) (“Battery” or “BMR” or the “Company”) is pleased
to announce that it has closed a n equipment refinancing transaction through its
100%-owned subsidiary, Ozzie’s, Inc., (“Ozzie’s”) which operates in the equipment
rental and sales sector, servicing pipeline and renewable energy companies (the
“Transaction”).
The Transaction raised proceeds of US$2.0 million via a re-financing of 11 pieces of
equipment owned by Ozzie’s and is structured as a lease with a four -year term.
Subject to certain terms and conditions, Ozzie’s has the option to pay the amount
remaining on the lease at any time from the 13 th month following the lease
commencement and prior to the end of the lease , thus providing Ozzie’s with
additional financial fl exibility. SLR Equipment Finance provided the financing.
Proceeds from the Transaction will be towards additional working capital.
Battery CEO Martin Kostuik states : “As our last transaction for 2022, w e are very
pleased to announce the refinancing of certain of Ozzie’s equipment with SLR
Equipment Finance. The transaction represents a non-dilutive means for BMR to raise
capital. We look forward to sharing ongoing updates on additional financing initiatives
and other key milestones, as we advance towards an early 2023 restart of mine
operations followed by copper production and positive cash-flow at Punitaqui.”
About Battery Mineral Resources Corp.
Battery Mineral Resources is a battery mineral s 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 jurisdictions.
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. (including ESI’s wholly owned USA operating subsidiary,
Ozzie’s, Inc.), a profitable mainline pipeline and renewable energy equipment rental
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and sales company with operations in Alberta, Canada and Arizona, USA. Battery
Minerals Resources is based in Canada and its shares are listed on the Toronto
Venture Exchange under the sym bol “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
Mars Investor Relations
+1 (604) 335-1976
Harbor Access Corp.
475-477-9402
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
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
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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.