BMR:CC - Battery Mineral Resources Corp. Announces Equipment Refinancing by Ozzie’s Inc. (100%-Owned Subsidiary) Generating Proceeds of US$2 Million
(NewsDirect)
Battery MineralResources Corp. (TSXV: BMR) (OTCQB: BTRMF) (“ Battery ” or“ BMR ” or the “ Company ”) is pleased to announcethat it has closed an equipment refinancing transaction through its100%-owned subsidiary, Ozzie’s, Inc., (“Ozzie’s”) whichoperates in the equipment rental and sales sector, servicing pipelineand renewable energy companies (the “ Transaction ”).
The Transaction raisedproceeds of US$2.0 million via a re-financing of 11 pieces ofequipment owned by Ozzie’s and is structured as a lease with afour-year term. Subject to certain terms and conditions, Ozzie’s hasthe option to pay the amount remaining on the lease at any time fromthe 13 th month following the lease commencement and priorto the end of the lease, thus providing Ozzie’s with additionalfinancial flexibility. SLR Equipment Finance provided the financing.Proceeds from the Transaction will be towards additional workingcapital.
BatteryCEO Martin Kostuik states: “As our last transaction for 2022, weare very pleased to announce the refinancing of certain of Ozzie’sequipment with SLR Equipment Finance. The transaction represents anon-dilutive means for BMR to raise capital. We look forward tosharing ongoing updates on additional financing initiatives and otherkey milestones, as we advance towards an early 2023 restart of mineoperations followed by copper production and positive cash-flow atPunitaqui.”
About Battery Mineral Resources Corp.
Battery MineralResources is a battery minerals company providing shareholdersexposure to the global mega-trend of electrification while beingfocused on growth through cash-flow, exploration, and acquisitions infavourable mining jurisdictions. Battery Mineral’s mission is thediscovery, acquisition, and development of battery metals (namelycobalt, lithium, graphite, and copper), in North America, SouthAmerica and South Korea, to become a premier and responsible supplierof battery minerals to the electrification marketplace. BMR iscurrently pursuing a near-term resumption of operations of thePunitaqui Mining Complex, a past copper-gold producer, in the Coquimboregion of Chile. BMR is the largest mineral claim holder in thehistoric Gowganda Cobalt-Silver Camp in Ontario, Canada, and continuesto pursue a focused program to build on the recently announced,+1-million-pound high-grade cobalt resource at McAra. In addition,Battery Mineral owns 100% of ESI Energy Services, Inc. (includingESI’s wholly owned USA operating subsidiary, Ozzie’s, Inc.), aprofitable mainline pipeline and renewable energy equipment rental andsales company with operations in Alberta, Canada and Arizona, USA.Battery Minerals Resources is based in Canada and its shares arelisted on the Toronto Venture Exchange under the symbol “BMR” andon the OTCQB under the symbol “BTRMF”. Further information aboutBMR and its projects can be found on www.bmrcorp.com .
For more information,please contact:
Martin Kostuik, CEO
Phone: +1 (604) 229 3830
Mars InvestorRelations
+1(604) 335-1976
Harbor Access Corp.
475-477-9402
Twitter:
Neither the TSXV nor itsRegulation Services Provider (as that term is defined in the policiesof the TSXV) accepts responsibility for the adequacy or accuracy ofthis press release.
Forward Looking Statements
This news release includes certain “forward-lookingstatements” under applicable Canadian securities legislation. Therecan be no assurance that such statements will prove to be accurate,and actual results and future events could differ materially fromthose anticipated in such statements. Forward-looking statementsreflect the beliefs, opinions and projections of the Company on thedate the statements are made and are based upon a number ofassumptions and estimates that, while considered reasonable by theCompany, are inherently subject to significant business, economic,competitive, political and social uncertainties and contingencies.Many factors, both known and unknown, could cause actual results,performance, or achievements to be materially different from theresults, performance or achievements that are or may be expressed orimplied by such forward-looking statements and the parties have madeassumptions and estimates based on or related to many of thesefactors. Such factors include, without limitation, the ability of theCompany to obtain sufficient financing to complete exploration anddevelopment activities, risks related to share price and marketconditions, the inherent risks involved in the mining, exploration anddevelopment of mineral properties, the ability of the Company to meetits anticipated development schedule, government regulation andfluctuating metal prices. Accordingly, readers should not place unduereliance on forward-looking statements. Battery undertakes noobligation to update publicly or otherwise revise any forward-lookingstatements contained herein, whether as a result of new information orfuture events or otherwise, except as may be required bylaw.
Contact Details
Martin Kostuik, CEO
+1604-229-3830
CompanyWebsite
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