Battery X Metals Announces Non-Brokered Private Placement, Proposed Debt Settlement, and Convertible Loan
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 ha annunciato tre iniziative finanziarie chiave: un placement privato non intermediarizzato per raccogliere fino a 600.000 dollari emettendo 12 milioni di unità a 0,05 dollari ciascuna, un rimborso del debito di 600.000 dollari tramite l'emissione di 12 milioni di unità, e un contratto di prestito convertibile del valore di 101.289,51 dollari.
Ogni unità sia nel placement privato che nel rimborso del debito comprende un'azione comune e un warrant, che consente l'acquisto di un'azione aggiuntiva a 0,075 dollari per 24 mesi. I proventi del placement privato saranno utilizzati per il capitale circolante e per crediti da saldare. Il prestito convertibile è senza interessi con una scadenza di 12 mesi, convertibile a 0,05 dollari per unità con termini simili per il warrant.
La chiusura è prevista intorno al 20 dicembre 2024, soggetta ad approvazioni normative.
Battery X Metals ha anunciado tres iniciativas financieras clave: una para recaudar hasta 600,000 dólares mediante la emisión de 12 millones de unidades a 0,05 dólares cada una, un acuerdo de liquidación de deudas por 600,000 dólares a través de la emisión de 12 millones de unidades, y un contrato de préstamo convertible por valor de 101,289.51 dólares.
Cada unidad tanto en la colocación privada como en la liquidación de deudas incluye una acción común y una opción de compra, que permite la adquisición de una acción adicional a 0,075 dólares durante 24 meses. Los ingresos de la colocación privada se utilizarán para capital de trabajo y cuentas por pagar. El préstamo convertible es sin intereses con un vencimiento de 12 meses, convertible a 0,05 dólares por unidad con términos de opción similares.
El cierre está previsto alrededor del 20 de diciembre de 2024, sujeto a aprobaciones regulatorias.
Battery X Metals는 세 가지 주요 재정 계획을 발표했습니다: 600,000달러를 모금하기 위해 1천2백만 개의 주식을 주당 0.05달러에 발행하는 비중개 민간 배치, 600,000달러의 부채 청산을 위해 1천2백만 개의 주식을 발행하는 것, 그리고 101,289.51달러 규모의 전환 대출 계약입니다.
민간 배치와 부채 청산의 각 단위는 하나의 일반 주식과 하나의 워런트를 포함하며, 24개월 동안 0.075달러에 추가 주식을 구매할 수 있습니다. 민간 배치 수익금은 운영 자본 및 미지급금을 위해 사용됩니다. 전환 대출은 이자 없이 12개월 만기이며, 유사한 워런트 조건으로 주당 0.05달러에 변환 가능합니다.
종료는 2024년 12월 20일 경으로 예상되며, 규제 승인을 받아야 합니다.
Battery X Metals a annoncé trois initiatives financières clés : un placement privé sans intermédiaire pour lever jusqu'à 600 000 dollars en émettant 12 millions d'unités à 0,05 dollar chacune, un règlement de dette de 600 000 dollars par l'émission de 12 millions d'unités, et un contrat de prêt convertible d'une valeur de 101 289,51 dollars.
Chaque unité, tant dans le placement privé que dans le règlement de dette, comprend une action ordinaire et un bon de souscription, permettant l'achat d'une action supplémentaire à 0,075 dollar pendant 24 mois. Les produits du placement privé seront utilisés pour le fonds de roulement et les créances à payer. Le prêt convertible est sans intérêts avec une maturité de 12 mois, convertible à 0,05 dollar par unité avec des conditions de bon de souscription similaires.
La clôture est prévue autour du 20 décembre 2024, sous réserve des approbations réglementaires.
Battery X Metals hat drei wesentliche finanzielle Initiativen angekündigt: eine nicht vermittelte Privatplatzierung, um bis zu 600.000 Dollar durch die Ausgabe von 12 Millionen Einheiten zu einem Preis von 0,05 Dollar pro Einheit zu beschaffen, ein Schuldenvergleich von 600.000 Dollar durch die Ausgabe von 12 Millionen Einheiten und eine wandelbare Darlehensvereinbarung im Wert von 101.289,51 Dollar.
Jede Einheit in der Privatplatzierung und im Schuldenvergleich umfasst eine Stammaktie und eine Warrant, die den Kauf einer zusätzlichen Aktie zu 0,075 Dollar für 24 Monate ermöglicht. Die Erlöse aus der Privatplatzierung werden für Betriebskapital und ausstehende Verbindlichkeiten verwendet. Das wandelbare Darlehen ist zinsfrei mit einer Laufzeit von 12 Monaten, umwandelbar zu 0,05 Dollar pro Einheit mit ähnlichen Warrant-Bedingungen.
Der Abschluss wird um den 20. Dezember 2024 erwartet, vorbehaltlich der regulatorischen Genehmigungen.
- Debt reduction initiative through $600,000 debt settlement
- Additional working capital through $600,000 private placement
- Interest-free convertible loan arrangement
- Significant dilution potential through issuance of up to 24 million new units
- Low unit pricing at $0.05 indicates weak market position
- Additional dilution possible through warrant exercise at $0.075
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESSWIRE / December 11, 2024 / Battery X Metals Inc.(CSE:BATX)(OTCQB:BATXF)(FSE:R0W, WKN:A3EMJB)("Battery X Metals" or the "Company") announces it has determined to undertake a non-brokered private placement financing (the "Private Placement"), consisting of the issuance of an aggregate of 12,000,000 units of the Company (each, a "Unit"), at a price of
Each Unit will consist of one common share in the capital of the Company (each, a "Share") and one transferable common share purchase warrant of the Company (each, a "Warrant"), with each Warrant entitling the holder to acquire on additional Share (each, a "Warrant Share") at a price of
Closing of the Private Placement is anticipated to occur on or about December 20, 2024, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange.
The net proceeds of the Private Placement are intended to be used for general working capital and outstanding payables. The securities issued under the Private Placement will be subject to a statutory hold period expiring four months and one day from the date of issuance.
Proposed Debt Settlement
In line with its continued efforts to strengthen its balance sheet, the Company intends to settle debt totaling
Each Debt Settlement Unit will consist of one Share (each, a "Debt Share") and one transferable common share purchase warrant (each, a "Debt Settlement Warrant"), with each Debt Settlement Warrant exercisable to purchase one additional common share of the Company (each, a "Debt Settlement Warrant Share") at an exercise price of
Closing of the Debt Settlement is expected to occur on or around December 20, 2024.
Insiders may participate in the Private Placement and the Debt Settlement and such participation may constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI61-101"). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under subsections 5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in the Private Placement and Debt Settlement by insiders will not exceed
Convertible Loan Agreement
The Company also announces that it has entered into a convertible loan agreement dated December 11, 2024 (the "Loan Agreement") with an arm's length third party, with a principal balance outstanding of
Pursuant to the Loan Agreement, the Company may elect to convert the Loan into units of the Company (each, a "Loan Unit") at a deemed price of
Each Loan Unit will consist of one Share (each, a "Loan Share") and one transferable common share purchase warrant (each, a "Loan Warrant"), with each Loan Warrant exercisable to purchase one additional common share of the Company (each, a "Loan Warrant Share") at an exercise price of
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.
About Battery X Metals Inc.
Battery X Metals (CSE:BATX)(OTCQB:BATXF)(FSE:R0W, WKN:A3EMJB) is committed to advancing the global clean energy transition through the development of proprietary technologies and domestic battery and critical metal resource exploration. The Company focuses on extending the lifespan of electric vehicle (EV) batteries, through its portfolio company, LIBRT1, recovering battery grade metals from end-of-life lithium-ion batteries, and the acquisition and exploration of battery and critical metals resources. For more information, visit batteryxmetals.com.
1
On Behalf of the Board of Directors
Massimo Bellini Bressi, Director
For further information, please contact:
Massimo Bellini Bressi
Chief Executive Officer
Email: mbellini@batteryxmetals.com
Tel: (604) 741-0444
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements within the meaning of applicable securities laws, including statements related to the proposed Private Placement and the Debt Settlement, and the effective date thereof. Forward-looking statements reflect management's current beliefs, expectations, and assumptions based on available information as of the date of this release. However, these statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. Such risks include, but are not limited to, failure to obtain regulatory approvals required to complete the Private Placement and effect the Debt Settlement. Additional details regarding risks and uncertainties are available in the Company's filings on SEDAR+. The forward-looking statements in this news release are made as of the date hereof, and Battery X Metals disclaims any intention or obligation to update or revise such statements, except as required by law. Investors are cautioned not to place undue reliance on these forward-looking statements.
SOURCE: Battery X Metals
View the original press release on accesswire.com
FAQ
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