BMR - Battery Mineral Resources Corp. announces attendance at CESCO week in Santiago Chile and interest settlement transactions with holders of convertible debentures
(NewsDirect)
Battery MineralResources Corp. ( TSXV: BMR ) ( OTCQB: BTRMF )(“ Battery ” or “ BMR ” or the “ Company ”)is very pleased to announce that its senior executives will beattending the Centro de Estudios de Cobre y la Mineria(“ CESCO ”) event in Santiago Chile the week of April17 th to 21 st . CESCO Week and the WorldCopper Conference provide some of the most important commercial andnetworking opportunities in the mining industry, attracting in excessof 2000 delegates. Both events are renowned for the calibre ofdelegates and attract CEO participants from the world’s mostimportant miners and smelters.
BMR is also pleased to announce that it has enteredinto interest settlement agreements with certain holders ofconvertible debentures of the Company (the “ DebentureHolders ”) for the payment of accrued interest owing underconvertible debentures previously issued by the Company during 2022 byway of issuance of common shares of the Company. Pursuant to theseagreements, BMR has agreed to issue an aggregate of 5,202,902 commonshares (“ Shares ”) to settle C$830,038 of accrued interestowing to Debenture Holders (collectively, the “ InterestSettlement Transactions ”) as follows:
- 1,575,758 Shares at a deemed price ofC$0.165 per Share.
- 294,300 Shares at a deemed price of C$0.19per Share.
- 2,194,800 Shares at a deemed price of C$0.14 perShare; and
- 1,138,044 Shares at a deemed price of C$0.18 perShare.
MaxSatel, CFO of BMR, commented: “We are pleased to have received thecontinued support of our Debenture Holders, who have agreed to accepttheir first-year interest in the form of Shares. This will furtherassist the Company in deploying its capital resources towards earlyre-start activities at the Punitaqui project.”
The completion of theInterest Settlement Transactions is subject to the acceptance of theTSX Venture Exchange (the “ TSXV ”). All securities issuedpursuant to the Interest Settlement Transactions will be subject to ahold period of four months and one day from the date of issuance, inaccordance with applicable securities legislation.
The Interest SettlementTransactions will constitute a "related party transaction"under Multilateral Instrument 61-101 - Protection of MinoritySecurityholders in Special Transactions ("MI 61-101"). TheCompany intends to rely on the exemptions from the valuation andminority shareholder approval requirements of MI 61-101 contained insections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair marketvalue of the Shares nor the interest owing to the Debenture Holdersexceeds 25% of the Company's market capitalization.
About Battery MineralResources Corp.
Battery Mineral Resources is a battery minerals companyproviding shareholders exposure to the global mega-trend ofelectrification while being focused on growth through cash-flow,exploration, and acquisitions in favourable mining jurisdictions.Battery Mineral’s mission is the discovery, acquisition, anddevelopment of battery metals (namely cobalt, lithium, graphite, andcopper), in North America, South America and South Korea, to become apremier and responsible supplier of battery minerals to theelectrification marketplace. BMR is currently pursuing a near-termresumption of operations of the Punitaqui Mining Complex, a pastcopper-gold producer, in the Coquimbo region of Chile. BMR is thelargest mineral claim holder in the historic Gowganda Cobalt-SilverCamp in Ontario, Canada, and continues to pursue a focused program tobuild on the recently announced, +1-million-pound high-grade cobaltresource at McAra. In addition, Battery Mineral owns 100% of ESIEnergy Services, Inc. (including ESI’s wholly owned USA operatingsubsidiary, Ozzie’s, Inc.), a profitable mainline pipeline andrenewable energy equipment rental and sales company with operations inAlberta, Canada and Arizona, USA. Battery Mineral Resources is basedin Canada and its shares are listed on the Toronto Venture Exchangeunder the symbol “BMR” and on the OTCQB under the symbol“BTRMF”. Further information about BMR and its projects can befound on www.bmrcorp.com .
For more information,please contact:
Martin Kostuik,CEO
Phone: +1(604) 229 3830
Corporate Communications
IBN(InvestorBrandNetwork)
310.299.1717Office
editor@investorbrandnetwork.com
Twitter:
Neither the TSXV nor its Regulation ServicesProvider (as that term is defined in the policies of the TSXV) acceptsresponsibility for the adequacy or accuracy of this press release.
Forward Looking Statements:
This news releaseincludes certain “forward-looking statements” under applicableCanadian securities legislation. There can be no assurance that suchstatements will prove to be accurate, and actual results and futureevents could differ materially from those anticipated in suchstatements. Forward-looking statements reflect the beliefs, opinionsand projections of the Company on the date the statements are made andare based upon a number of assumptions and estimates that, whileconsidered reasonable by the Company, are inherently subject tosignificant business, economic, competitive, political and socialuncertainties and contingencies. Many factors, both known and unknown,could cause actual results, performance, or achievements to bematerially different from the results, performance or achievementsthat are or may be expressed or implied by such forward-lookingstatements and the parties have made assumptions and estimates basedon or related to many of these factors. Such factors include, withoutlimitation, the ability of the Company to obtain sufficient financingto complete exploration and development activities, the ability of theCompany to secure the Advances under the Loan Agreement, timing of thecompletion of the Company’s audit, risks related to share price andmarket conditions, the inherent risks involved in the mining,exploration and development of mineral properties, the ability of theCompany to meet its anticipated development schedule, governmentregulation and fluctuating metal prices. Accordingly, readers shouldnot place undue reliance on forward-looking statements. Batteryundertakes no obligation to update publicly or otherwise revise anyforward-looking statements contained herein, whether as a result ofnew information or future events or otherwise, except as may berequired by law.
Contact Details
Martin Kostuik,CEO
+1 604-229-3830
CompanyWebsite
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