Battery X Metals Inc - BATXF STOCK NEWS

Battery X Metals (OTCQB:BATXF) has announced the grant of 1,794,000 restricted share units (RSUs) to directors, officers, and consultants, effective January 1, 2025. The RSUs will vest in four equal tranches of 25% each: on May 2, 2025, six months, nine months, and twelve months from the grant date.

The company confirmed that equity grants under their Equity Incentive Plan, combined with these RSUs, will not exceed 5% of outstanding shares for individuals or 10% total in the next 12 months. All securities are subject to a four-month statutory hold period. The RSU grants to Massimo Bellini Bressi and Martino Ciambrelli qualify as related party transactions but are exempt from valuation and minority shareholder approval requirements under MI 61-101.

Battery X Metals (CSE:BATX)(OTCQB:BATXF) has granted 2,755,000 stock options to directors, officers, and consultants on December 30, 2024. The options are exercisable at $0.10 per share, vest immediately, and expire on December 30, 2026. The grants include insider transactions to Massimo Bellini Bressi, Dallas Pretty, Martino Ciambrelli, and Howard Blank, which qualify as exempt from certain regulatory requirements under MI 61-101 as they represent less than 25% of the company's market capitalization. All securities are subject to a four-month and one-day statutory hold period.

Battery X Metals (CSE:BATX, OTCQB:BATXF) has appointed Martino Ciambrelli as an independent director effective December 25, 2024. Ciambrelli brings over 35 years of experience in business development, sales leadership, and operational management. His previous roles include Director of Business Development at AirSprint (2011-2013) and Regional Manager at Johnvince Foods (2001-2011), along with experience at major companies like PepsiCo and Lindt.

The company also announced the resignation of Matthew Markin and Mark Brezer as directors, effective December 26, 2024. Following these changes, the Audit Committee has been restructured, with Ciambrelli joining Mr. Blank (Chair) and Mr. Bellini Bressi.

Battery X Metals (BATXF) has completed two significant financial transactions: a non-brokered private placement and a debt settlement. The private placement raised $599,999.94 through issuing 11,999,998 units at $0.05 per unit, with each unit comprising one common share and one warrant exercisable at $0.075 until December 24, 2026. Additionally, the company settled $600,000 in debt through issuing 11,999,999 similar units to insiders and creditors. Both transactions' securities are subject to a hold period until April 25, 2025. The company plans to use the private placement proceeds for working capital and outstanding payables.

Battery X Metals has announced three key financial initiatives: a non-brokered private placement to raise up to $600,000 through issuing 12 million units at $0.05 each, a debt settlement of $600,000 through issuing 12 million units, and a convertible loan agreement worth $101,289.51.

Each unit in both the private placement and debt settlement includes one common share and one warrant, allowing purchase of an additional share at $0.075 for 24 months. The private placement proceeds will be used for working capital and outstanding payables. The convertible loan is interest-free with a 12-month maturity, convertible at $0.05 per unit with similar warrant terms.

Closing is expected around December 20, 2024, subject to regulatory approvals.

Battery X Metals has announced the implementation of a share consolidation effective December 10, 2024. The consolidation will be executed on a 3.3:1 basis, where every 3.3 pre-consolidation common shares will be converted into one post-consolidation share. Following the consolidation, the total number of outstanding common shares will be approximately 21,493,985. The company's name and trading symbols will remain unchanged, though new CUSIP and ISIN numbers will be assigned. No fractional shares will be issued, and any resulting fractions will be rounded down. The consolidation will proportionally adjust the exercise price and number of shares for outstanding convertible securities.

Battery X Metals has announced a 3.3:1 share consolidation of its common shares, reducing the total from 70,930,153 to approximately 21,493,985 shares. The consolidation, approved by the board of directors without requiring shareholder approval, is expected to begin trading on the Canadian Securities Exchange on December 10, 2024. No fractional shares will be issued, and any fractions will be rounded down. The company believes this move will enhance share marketability, attract broader investor interest, and improve flexibility for future corporate activities and financing opportunities.

Battery X Metals has amended its option agreement with Bounty Gold Corp. to acquire 100% of the Belanger Project, a gold-copper property in Ontario's Birch-Uchi Greenstone Belt. The company will pay the remaining $18,000 in installments until June 30, 2025. The project spans 109 unpatented mining claims and aligns with the company's strategy in clean energy transition and critical metals. Additionally, the company has completed a debt settlement of $81,000 through the issuance of 810,000 common shares at $0.10 per share.

Battery X Metals has initiated strategic measures to strengthen its balance sheet, focusing on reducing outstanding liabilities through debt settlements and amended marketing agreements. The company aims to reduce accounts payable, accrued liabilities, and working capital commitments by approximately $261,000. The initiatives include debt settlements worth up to $111,000 through share issuance at $0.10 per share, and amendments to marketing agreements with Pivotal CM and Sidis Holdings, resulting in the cancellation of $150,000 in remaining obligations. The company also appointed Howard Blank as an independent director and Audit Committee Chair.