Distribution OR Dissemination Directly, OR Indirectly, IN Whole OR IN Part, IN OR
2200 – 1250 Rene Levesque Blvd. Montreal, QC, H3B 4W8
Phone: (438) 469-0705
#1100 - 1111 Melville Street, Vancouver, BC, V6E 3V6 Phone:
(604) 343-7740
Email: [email protected]
Website: www.greenbatteryminerals.com
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION,
DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR
INTO THE UNITED STATES.
VANCOUVER, BRITISH COLUMBIA – Vancouver, British Columbia, | December 30, 2022 – Green Battery
Minerals Inc. ( “Green Battery” or the “Company”) (TSX-V: GEM, FSE: BK2P, WKN: A2QENP OTC:
GBMIF) is pleased to announce it has received conditional approval and will now apply to the TSX Venture Exchange
to close its previously announced private placement as to 5,600,000 units (“Units”) at $0.05 per Unit for gross proceeds
of up to $280,000. Each Unit consists of one common share and one warrant exerciseable at $0.08 for a period of two
years, subject to the right to be accelerated by the Company in the event that the Company’s shares trade at or above
$0.20 for a period of 10 consecutive days. In such case of accelerated warrants, the Company may give notice, in
writing or by way of news release, to the holders that the warrants will expire 30 days from the date of providing such
notice.
.
Two insiders of the Company wish to participate in the private placement as to an aggregate of 1,200,000 Units ,
thereby making the offering a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-
101"). The Company is of the view that the offering is exempt from the need to obtain minority shareholder and a
formal valuation as required by MI 61-101 as the Company is listed on the TSX Venture Exchange and the fair market
value of any units to insiders or the consideration paid by insiders of the Company will not exceed 25% of the
Company's market capitalization. The Company did not file a material change report 21 days prior to announcing this
private placement as the details of the respective participation is not known.
Proceeds of the issuance will be used for general working capital and to advance Green Batteries Quebec based
projects.
The securities to be issued will have the required hold period of four month plus one day from issuance.
About the Berkwood Graphite Project
The Berkwood Graphite Project is located within the jurisdiction of Quebec, in the Manicouagan Regional County
Municipality, three hours driving time from the city of Baie-Comeau. Easy access is provided via a major secondary
road and numerous tertiary and forest roads that traverse the property.
The Zone 1 deposit lies 8 km southwest of Mason Graphite’s deposit which is the subject of a current feasibility study.
The Company believes its Zone 1 deposit and that of Mason share many similar geological char acteristics with the
Zone 1 deposit being one of the highest-grade graphite deposits in the world.
2
The current mineral resource at the Berkwood Graphite Project includes in-pit constrained resource totalling 1,755,300
tonnes of indicated resources at 17.00 % Cgr and 1,526,400 tonnes in inferred resources at 16.39 % Cgr.
Table 1: In-pit Resource at Lac Gueret South Project (rounded numbers)
The mineral resource estimates above are described in the technical report entitled, NI 43-101 Technical Report
Mineral Resource Estimate on the Lac Gueret South Graphite Property, Quebec, Canada. With an Effective date of
June 19th, 2019, dated June 30th, 2019, by Edward Lyons, PGeo., Florent Baril, ing., and Claude Duplessis, ing. Link
to Report:
https://greenbatteryminerals.com/wp-content/uploads/ReportFINAL_compressed.pdf
About the Company: Green Battery Minerals is managed by a team with over 150 years of collective experience
with a proven track record of not just finding numerous mines but building and operating them as well. The Green
Battery Minerals management team’s most recent success is discovering the Berkwood graphite deposit in Northern
Québec. Green Battery Minerals owns 100% of this asset and the Company’s shareholders will benefit from this asset
as the demand for graphite for electric vehicles increases significantly.
On Behalf of the Board of Directors
Green Battery Minerals Inc.
‘Thomas Yingling’
Thomas Yingling,
President, CEO & Director
FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations:
or 1-604-343-7740
[email protected] www.greenbatteryminerals.com
Disclaimer for Forward-Looking Information:
Certain statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Forward looking statements in this news release include that the Company will carry out the
drill program described in this news release, conduct the Offering and expend funds on Berkwood Graphite Project exploration. It is important to
note that the Company’s actual business outcomes and exploration results could differ materially from those in such forward-looking statements.
Risks and uncertainties include that further permits may not be granted timely or at all; the mineral claims may prove to be unworthy of further
expenditure; there may not be an economic mineral resource; methods we thought would be effective may not prove to be in prac tice or on our
claims; economic, competitive, governmental, environmental and technological factors may affect the Company’s ope rations, markets, products
and prices; our specific plans and timing drilling, field work and other plans may change; we may not have access to or be able to develop any
minerals because of cost factors, type of terrain, or availability of equipment and te chnology; and we may also not raise sufficient funds to carry
out our plans. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion and Analysis
for its recently completed fiscal period, which is available under Company’s SEDAR profile at www.sedar.com. No assurance can be given that
any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.
These forward -looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which
may prove to be incorrect. Except as required by law, we will not update these forward-looking statement risk factors.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.