CRUZ BATTERY METALS CORP - BKTPF STOCK NEWS

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 will result in Makenita becoming a separate reporting issuer, focusing on the Hector Property development. Cruz will concentrate on its US Properties and seek new opportunities. The arrangement includes a share capital reorganization and is subject to court and shareholder approvals, with completion expected by the end of Q4 2024.

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 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 plans to list on the CSE and raise approximately $500,000 through offerings
• The arrangement requires court approval and two-thirds shareholder vote
• Anticipated completion by end of Q3 2024
• Cruz will focus on its US lithium and cobalt projects

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.

Cruz Battery Metals Corp. (CSE: CRUZ) (OTC Pink: BKTPF) announces plans to spin out its Hector Silver-Cobalt Project in Ontario into a new subsidiary, Makenita Resources Inc. The spin-out aims to unlock value for shareholders by creating two separate companies. The Hector Property consists of 126 mining claims covering 2,243 hectares near Cobalt, Ontario.

The spin-out will be executed through a plan of arrangement, with Cruz shareholders receiving shares in both companies. SpinCo plans to seek a listing on the Canadian Securities Exchange and raise capital through private placements. The company expects to complete the spin-out by the end of Q3 2024, subject to shareholder and court approval.

Cruz Battery Metals has engaged APEX Geoscience to update the 43-101 Technical Report for its 100%-owned Hector Silver-Cobalt Project in Ontario. This engagement comes as silver prices surge in 2024. The project spans 5,542 acres in a historic silver-cobalt producing region. Cruz has over $1.5 million in cash reserves, sufficient to fund planned 2024 work programs and marketing initiatives. The company aims to ramp up activities on its Solar Lithium Project in Nevada as well. The technical details of the release were reviewed by Frank Bain, PGeo, a qualified person under National Instrument 43-101. Cruz Management notes that historical results from nearby properties may not indicate similar outcomes for their projects.

Cruz Battery Metals has engaged Apex Geoscience to update the 43-101 Technical Report for its Hector Silver-Cobalt Project in Ontario. This project spans 5,542 acres in a historically rich silver-cobalt region. With silver prices rising in 2024, Cruz aims to capitalize on this trend. The company has over $1.5 million in cash reserves, sufficient to fund its 2024 work and marketing plans. This engagement is expected to enhance shareholder value and generate increased news flow in the latter half of 2024. The technical details were verified by a qualified person under National Instrument 43-101.