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Cruz Battery Metals Corp (BKTPF) is a leading company in the battery metals sector with a focus on lithium and cobalt projects. The company recently completed its phase-4 drill program on the Solar Lithium Project in Nevada, adjacent to American Lithium Corp's TLC project. The program yielded promising results, with significant lithium-bearing clay discoveries. Cruz's CEO, James Nelson, expressed optimism and outlined plans for future drilling programs to expand the known lithium footprint on the project. With multiple projects across North America, Cruz aims to become a key player in the battery metals market.
Cruz Battery Metals (CSE: CRUZ) (OTC: BKTPF) has completed the acquisition of the 580-acre Central Clayton Valley Lithium Brine Project in Nevada, USA. The project consists of 29 claims surrounded by SLB's Clayton Valley lithium brine project, expanding Cruz's lithium brine footprint to 820 acres in the region.
The acquisition was completed through a purchase agreement with two arm's-length parties, requiring a cash payment of $115,000 for BLM fees and staking costs, along with the issuance of 7 million shares subject to a four-month hold period.
The announcement highlights positive EV market trends, noting that China's new energy vehicle sales exceeded 50% of passenger car sales, with a 52.3% penetration rate in November. Additionally, GM reported a 50% increase in EV sales for Q4 and a 125% increase for the year, becoming the second-largest EV seller in the U.S. during H2 2024.
Cruz Battery Metals (CSE: CRUZ) (OTC: BKTPF) announces plans to acquire the 580-acre Central Clayton Valley Lithium Brine Project in Nevada, which is completely surrounded by SLB's property. This acquisition will expand Cruz's lithium brine footprint to 820 acres in Clayton Valley.
The project is strategically located in the deepest part of the Clayton Valley lithium brine basin. The acquisition comes as SLB has successfully completed a 100% earn-in of Pure Energy's Clayton Valley project and demonstrated successful high-purity direct lithium extraction (DLE) production.
The acquisition terms include a cash payment of $115,000 for BLM fees and staking costs, plus the issuance of 7 million shares with a four-month hold period. The deal is subject to regulatory approvals.
The announcement highlights recent EV market growth, with China's new energy vehicles accounting for over 52.3% of passenger car sales, and GM reporting a 50% increase in EV sales for Q4 and 125% for the year, becoming the #2 EV seller in the U.S. in H2 2024.
Cruz Battery Metals Corp. (BKTPF) announces plans to acquire the 580-acre Central Clayton Valley Lithium Brine Project in Nevada, consisting of 29 claims completely surrounded by SLB's property. This acquisition will expand Cruz's lithium brine footprint in Clayton Valley to 820 acres. The project is located in the deepest part of the Clayton Valley lithium brine basin.
The acquisition comes as SLB (formerly Schlumberger) has successfully completed a 100% earn-in of Pure Energy's Clayton Valley project and demonstrated successful high-purity direct lithium extraction (DLE) production. The purchase terms include $115,000 in cash for BLM fees and staking costs, plus 7 million shares with a four-month hold period.
The company highlights recent positive EV market trends, noting that China's new energy vehicle sales exceeded 50% of passenger car sales, while GM reported a 50% increase in EV sales for Q4 and 125% for the year, becoming the #2 EV seller in the U.S. in H2 2024.
Cruz Battery Metals (CSE: CRUZ, OTC: BKTPF) and Makenita Resources have completed their previously announced plan of arrangement, involving the spin-off of Makenita from Cruz. The arrangement included the transfer of Cruz's Hector Silver-Cobalt Project, consisting of 126 contiguous unpatented mineral claims totaling 2,243 hectares in Ontario, to Makenita in exchange for 16,787,996 Makenita shares.
Shareholders at the close of business on December 20, 2024, received one New Cruz Share and 0.1 of a Makenita Share for each Existing Cruz Share. Makenita has received conditional approval from the Canadian Securities Exchange for listing its shares under the ticker symbol 'KENY', pending final documentation requirements.
Cruz Battery Metals Corp (CSE: CRUZ) (OTC: BKTPF) has announced the completion of its previously announced plan of arrangement with its wholly-owned subsidiary, Makenita Resources. The arrangement, approved by shareholders on December 11, 2024, and receiving final court approval on December 16, 2024, will be effective December 23, 2024.
Under the arrangement, Cruz will transfer its Hector Silver-Cobalt Project in Ontario to Makenita. Shareholders will receive one New Cruz Share and 0.1 of a Makenita Spinout Share for each existing Cruz Share. The Hector Property consists of 126 contiguous unpatented mineral claims totaling 2,243 hectares in Ontario, Canada.
Post-arrangement, Makenita will become a separate unlisted reporting issuer, while Cruz will focus on developing its US Properties, including the Solar Lithium Project, Clayton Valley Lithium Project, and Idaho Cobalt Belt Project.
Cruz Battery Metals (CSE: CRUZ, OTC: BKTPF) is proceeding with its previously announced plan of arrangement to spin out its Hector Silver-Cobalt Project to its wholly-owned subsidiary, Makenita Resources. The arrangement, approved by shareholders on December 11, 2024, and by the British Columbia Supreme Court on December 16, 2024, will be effective December 23, 2024.
Under the arrangement, shareholders will receive one New Cruz Share and 0.1 Makenita Spinout Share for each existing Cruz Share. Makenita will become a separate unlisted reporting issuer in British Columbia, Alberta, and Ontario, and is seeking listing on the CSE. Post-spinout, Cruz will focus on developing its US Properties, including the Solar Lithium Project, Clayton Valley Lithium Project, and Idaho Cobalt Belt Project.
Cruz Battery Metals (CSE: CRUZ) has set October 29, 2024, as the record date for its planned spin-out of the Hector Silver-Cobalt Project to its wholly-owned subsidiary, Makenita Resources. Through this arrangement, shareholders will receive 0.1 Makenita shares for each Cruz Class A Share while maintaining their existing Cruz shares. The Hector Property consists of 126 contiguous unpatented mineral claims totaling 2,243 hectares in Ontario. Makenita plans to raise approximately $500,000 through securities offerings and seeks listing on the CSE. The arrangement requires court approval and two-thirds shareholder approval at the December 11, 2024 meeting.
Cruz Battery Metals Corp. (CSE: CRUZ) (OTC Pink: BKTPF) has announced the record date for its spin-out of the Hector Silver-Cobalt Project. The arrangement involves transferring the project to Cruz's wholly-owned subsidiary, Makenita Resources Inc., and distributing Makenita shares to Cruz shareholders. Key dates include:
- Record date: October 29, 2024
- Mailing date: November 5, 2024
- Meeting date: December 11, 2024
Shareholders of record will receive free Makenita shares while retaining 100% of their Cruz shares. The spin-out aims to create a separate reporting issuer focused on the Hector Property, while Cruz will concentrate on its US lithium and cobalt projects. The arrangement requires shareholder and regulatory approvals, with completion expected by the end of Q4 2024.
Cruz Battery Metals Corp. (CSE: CRUZ) (OTC Pink: BKTPF) announces developments in the Clayton Valley, Nevada lithium sector. Neighboring company SLB has demonstrated a breakthrough in sustainable lithium production, achieving a 96% lithium recovery rate from brine, 500 times faster than conventional methods while using only 10% of the land. Cruz's Clayton Valley Lithium Brine Project is surrounded by the Pure/SLB project and is located in deep sections of the basin.
Cruz President James Nelson views this as a potential catalyst for renewed interest in Clayton Valley's lithium potential. The company is also proceeding with the spin-out of its Hector Project into Makenita Resources Inc., offering free shares to Cruz shareholders of record, with the record date to be announced soon.
Cruz Battery Metals Corp. (CSE: CRUZ) (OTC Pink: BKTPF) has entered into an arrangement agreement with its wholly-owned subsidiary, Makenita Resources Inc., to spin out its Hector Silver-Cobalt Project in Ontario. The arrangement will result in Makenita becoming a separate reporting issuer, focusing on the Hector Property development. Cruz shareholders will receive Makenita Spinout Shares while maintaining their interest in Cruz.
Key points:
- Cruz shareholders will receive 0.1 Makenita Spinout Share for each Cruz Class A Share
- Makenita intends to list on the CSE and raise approximately $500,000 through financing
- The arrangement is subject to court approval and shareholder vote
- Expected completion by the end of Q3 2024
Cruz will focus on developing its US lithium and cobalt projects after the spin-out.
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