Patriot Battery Metals Commences Trading on the ASX

Rhea-AI Summary

Patriot Battery Metals Inc. announced the commencement of its quotation on the ASX at 12 PM AEDT on December 7, 2022. The company raised AUD $4,200,000 through the issuance of 7,000,000 CHESS Depositary Interests (CDIs) at AUD $0.60 each. CEO Blair Way highlighted the ASX listing as a major milestone, indicating an upcoming flow of assay results. The company’s flagship Corvette Property in Québec shows significant lithium potential with drill intercepts of up to 3.01% Li2O.

Positive

• Successful ASX listing expected to enhance visibility and attract more investors.
• Raised AUD $4,200,000 for future exploration and development.
• Corvette Property exhibits promising lithium potential with high-grade drill results.

Negative

• None.

VANCOUVER, British Columbia, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX-V: PMET) (ASX: PMT) (OTCQB: PMETF) (FSE: R9GA) is pleased to announce that the securities of the Company will commence quotation at 12.00 PM Australia Eastern Daylight Time (AEDT) on Wednesday, 7 December 2022.

The shares of Patriot Battery Metals will trade under the ticker PMT and will be settled in the form of CHESS Depositary Interests (‘CDIs’) at a ratio of 10 CDIs to 1 share.

The Company raised AUD $4,200,000 pursuant to the offer under its prospectus dated 9 November 2022 by the issue of 7,000,000 CDIs at an issue price of AUD $0.60 per CDI.

Blair Way, Company President, CEO and Director, comments: “It is great to be trading on the ASX. With the ASX listing blackout behind us I look forward to getting back to our normal news flow providing progress updates and assay results. Commencing trading on the ASX is a major milestone for the company and I appreciate the significant efforts of our team to make this happen.”

The Company will be receiving a backlog of assay results, with further announcements expected over the coming weeks.

About Patriot Battery Metals Inc.

Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base, and precious metals.

The Company’s flagship asset is the 100% owned Corvette Property, located proximal to the Trans-Taiga Road and powerline infrastructural corridor in the James Bay Region of Québec. The land package hosts significant lithium potential highlighted by the 2.2 km long CV5 spodumene pegmatite with drill intercepts of 1.65% Li2O and 193 ppm Ta2O5 over 159.7 m (CV22-042), and 2.22% Li2O and 147 ppm Ta2O5 over 70.1 m, including 3.01% Li2O and 160 ppm Ta2O5 over 40.7 m (CV22-017). Additionally, the Property hosts the Golden Gap Trend with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, and the Maven Trend with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop.

The Company also holds 100% ownership of the Freeman Creek Gold Property in Idaho, USA which hosts two prospective gold prospects - the Gold Dyke Prospect with a 2020 drill hole intersection of 4.11 g/t Au and 33.0 g/t Ag over 12 m, and the Carmen Creek Prospect with surface sample results including 25.5 g/t Au, 159 g/t Ag, and 9.75% Cu.

The Company’s other assets include the Pontax Lithium-Gold Property, QC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.

For further information, please contact us at info@patriotbatterymetals.com

Tel: +1 (604) 279-8709 or visit www.patriotbatterymetals.com.

On Behalf of the Board of Directors,

“BLAIR WAY”                                

Blair Way, President, CEO, & Director                 

Competent person statement (ASX Listing Rule 5.22)

The information in this news release which relates to previously announced exploration results for the Corvette Property were first released by the Company in its prospectus for its ASX listing dated 9 November 2022 and released to the ASX platform on 5 December 2022 (Prospectus). The Company confirms it is not aware of any new information or data that materially affects the exploration results included in the Prospectus.

Disclaimer for Forward-Looking Information

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the results of further exploration and testing, and other risks detailed from time to time in the filings made by the Company with securities regulators, available at www.sedar.com. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

No securities regulatory authority or stock exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.

 

FAQ

When will Patriot Battery Metals start trading on the ASX?

Patriot Battery Metals will commence trading on the ASX at 12 PM AEDT on December 7, 2022.

What is the ticker symbol for Patriot Battery Metals on the ASX?

The ticker symbol for Patriot Battery Metals on the ASX is PMT.

How much money did Patriot Battery Metals raise in their recent offering?

Patriot Battery Metals raised AUD $4,200,000 by issuing 7,000,000 CHESS Depositary Interests (CDIs) at AUD $0.60 each.

What is the main asset of Patriot Battery Metals?

The main asset of Patriot Battery Metals is the Corvette Property in Québec, which has significant lithium potential.

What are the recent drill results reported by Patriot Battery Metals?

Recent drill results from the Corvette Property include up to 3.01% Li2O and 160 ppm Ta2O5 over 40.7 m.