Battery Mineral Resources Corp. Announces Sale of Leduc, Alberta Real Estate Property by Wholly Owned Subsidiary ESI Energy Services
Battery Mineral Resources Corp. Announces Sale of Leduc, Alberta Real
Estate Property by Wholly Owned Subsidiary ESI Energy Services
Vancouver, British Columbia – (Nov 7, 2022) – Battery Mineral Resources Corp.
(TSXV: BMR) (OTCQB: BTRMF) (“Battery” or “BMR” or the “Company”) is pleased
to announce that it has closed a sale transaction on an industrial real estate property
located at 7506 43rd Street Leduc, Alberta (the “Property”), previously held by BMR’s
100%-owned ESI Energy Services, Inc., which operates in the equipment rental and
sales sector, servicing pipeline and renewable energy companies (the
“Transaction”).
The Transaction raised net proceeds of approximately C$ 2.0 million, after the
repayment of all indebtedness on the Property and the payment of transaction costs.
Proceeds from the Transaction will be applied towards advancing the Punitaqui copper
mine towards a re-start and initial production, and for additional working capital.
The Company’s Punitaqui Mining Complex, a past producing copper-gold mine located
in the Coquimbo region of Chile. The Company is currently negotiating with interested
parties to supply the balance of the re-start capital via additional non-dilutive
avenues.
Battery CEO Martin Kostuik states: “We are very pleased to announce the closing of
the sale for the non-core Leduc, Alberta real estate property. Through the process of
optimizing ESI’s business model, we found that operating the shop in Leduc was not
accretive to the business. ESI was no longer using it and a sale process was initiated.
The transaction represents a creative, non -dilutive means for BMR to raise capital,
which we will apply in the near-term towards preparing for the re-start of operations
at Punitaqui. We look forward to sharing ongoing updates on additional financing
initiatives and other key milestones, as we advance towards rest arting 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 deve lopment 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 pote ntial
near-term resumption of operations in late 2022 of the Punitaqui Mining Complex, a
past copper -gold producer, in the Coquimbo region of Chile. BMR is the largest
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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. , a profitable mainline pipeline and renewable
energy equipment rental 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 symbol “BMR” and on the OTCQB under
the symbol “BTRMF”. Furt her 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
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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.