Coniagas Battery Metals Completes Private Placement
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CONIAGAS BATTERY METALS COMPLETES PRIVATE PLACEMENT
Vancouver, BC – September 30, 2024 - Coniagas Battery Metals Inc. (“Coniagas” or the
“Company”) (TSXV:COS) announces that it has held a second and final closing of its previously-
announced non-brokered private placement of units.
At the second closing, Coniagas issued an aggregate of 858,266 units at a price of $0.12 per unit
for gross proceeds of approximately $102,992. Each unit is comprised of one common share and
one-half of a common share purchase warrant. Each full warrant entitles the holder thereof to
purchase one additional common share at a price of $0.15 for five years from the date of issuance.
Of the 858,266 units issued at the second closing, 441,666 units are comprised of a common share
that will qualify as a “flow-through share” as defined in the Income Tax Act (Canada) and one-half
of a common share purchase warrant, representing gross proceeds of approximately $53,000.
Coniagas issued a total of 4,059,433 units in the private placement for gross proceeds of
approximately $487,132. Of the 4,059,433 units, a total of 1,713,666 were “flow-through” units,
representing gross “flow-through” proceeds of approximately $205,639.
Coniagas will use the proceeds from the private placement of the “flow-through” units for
exploration on the Graal property in Québec as well as for metallurgical test work and will use the
net proceeds from the private placement of the non-“flow-through” units for working capital.
In connection with the second closing, Coniagas paid cash finder’s fees in an aggregate amount of
$3,709.99, being 7% of the proceeds from subscriptions by subscribers identified by finders, and
issued an aggregate of 30,916 warrants to finders, representing 7% of the number of units issued
to subscribers identified by them. Each of the finder’s warrants will entitle its holder to purchase
one additional common share of Coniagas at a price of $0.15 for two years from the date of
issuance. Coniagas also issued an aggregate of 22,083 common shares to certain finders,
representing an amount equal to 5% of the number of units issued to subscribers identified by
them.
All securities issued at the second closing are subject to a four-month “hold period” under
applicable securities regulations, which will end on January 31, 2025. The private placement is
subject to final approval by the TSX Venture Exchange.
About Coniagas Battery Metals Inc.
Coniagas Battery Metals Inc. is a Canadian junior mining company focused on nickel, copper,
cobalt, and platinum group metals in Quebec. Our strategy is to create shareholder value through
the development of our mineral properties, with the goal of becoming a critical metals supplier to
the EV market.
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Coniagas has achieved notable success with geophysics and shallow drilling at its 100% owned
Graal project near Saguenay, Quebec, consistently hitting mineralization. This success has
confirmed an open-pit deposit model along a 6 km strike of high-grade nickel and copper, with
cobalt, platinum, and palladium byproducts. Upcoming plans include further drilling, an NI 43-
101 resource report, metallurgical testing, and consultations with First Nations. The Graal project
and immediate work plan are outlined in detail in the “NI 43-101 Technical Report Graal Nickel
& Copper Project, Saguenay-Lac-St-Jean, Quebec, Canada” dated January 17, 2024. The report is
available along with other information at the Company’s website.
“Frank J. Basa”
Frank J. Basa, P. Eng., Order of Engineers Ontario
Chief Executive Officer
For further information, contact:
Frank J. Basa, P. Eng. Ontario
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff, Corporate Communications
P: 416-710-2410 E: [email protected]
You can follow Coniagas on Social Media:
LinkedIn: https://www.linkedin.com/company/coniagas-battery-metals/
X (Twitter): https://twitter.com/coniagasmetals
Facebook: https://www.facebook.com/coniagas/
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements regarding Coniagas Battery Metals
Inc. (“Coniagas” or the “Company”) which include, but are not limited to, comments that involve
future events and conditions, which are subject to various risks and uncertainties. Except for
statements of historical facts, comments that address the private placement referred to above,
resource potential, upcoming work programs, geological interpretations, receipt and security of
mineral property titles, availability of funds, and others are forward-looking. No assurance can
be given that any of the foregoing will be achieved. In particular, Coniagas cannot give any
assurance that it will be able to complete further tranches of the private placement referred to
above, either in whole or in part, or that funds will be expended for exploration purposes.
Forward-looking statements are not guarantees of future performance and actual results may vary
materially from those statements. General business conditions are factors that could cause actual
results to vary materially from forward-looking statements. The Company does not undertake to
update any forward-looking information in this news release or other communications unless
required by law.