BMR:CC - Battery Mineral Resources Corp. Announces Sale of Leduc Alberta Real Estate Property by Wholly Owned Subsidiary ESI Energy Services
(NewsDirect)
Battery Mineral Resources Corp. (TSXV:BMR) (OTCQB: BTRMF) ( “Battery” or “BMR” orthe “Company” ) is pleased to announce that it has closed asale transaction on an industrial real estate property located at 750643rd Street Leduc, Alberta (the “Property” ), previouslyheld by BMR’s 100%-owned ESI Energy Services, Inc., which operatesin the equipment rental and sales sector, servicing pipeline andrenewable energy companies (the “Transaction” ).
The Transaction raised net proceeds ofapproximately C$2.0 million, after the repayment of all indebtednesson the Property and the payment of transaction costs. Proceeds fromthe Transaction will be applied towards advancing the Punitaqui coppermine towards a re-start and initial production, and for additionalworking capital.
The Company’sPunitaqui Mining Complex, a past producing copper-gold mine located inthe Coquimbo region of Chile. The Company is currently negotiatingwith interested parties to supply the balance of the re-start capitalvia additional non-dilutive avenues.
Battery CEO Martin Kostuik states: “We are very pleased toannounce the closing of the sale for the non-core Leduc, Alberta realestate property. Through the process of optimizing ESI’s businessmodel, we found that operating the shop in Leduc was not accretive tothe business. ESI was no longer using it and a sale process wasinitiated. The transaction represents a creative, non-dilutive meansfor BMR to raise capital, which we will apply in the near-term towardspreparing for the re-start of operations at Punitaqui. We look forwardto sharing ongoing updates on additional financing initiatives andother key milestones, as we advance towards restarting mine operationsfollowed by copper production and positive cash-flow atPunitaqui.”
About BatteryMineral Resources Corp.
BatteryMineral Resources 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 potential near-term resumption of operations inlate 2022 of the Punitaqui Mining Complex, a past copper-goldproducer, in the Coquimbo region of Chile. BMR is the largest mineralclaim holder in the historic Gowganda Cobalt-Silver Camp in Ontario,Canada, and continues to pursue a focused program to build on therecently announced, +1-million-pound high-grade cobalt resource atMcAra. In addition, Battery Mineral owns 100% of ESI Energy Services,Inc., a profitable mainline pipeline and renewable energy equipmentrental and sales company with operations in Alberta, Canada andArizona, USA. Battery Minerals Resources is based in Canada and itsshares are listed on the Toronto Venture Exchange under the symbol“BMR” and on the OTCQB under the symbol “BTRMF”. Furtherinformation about BMR and its projects can be found on www.bmrcorp.com .
For more information, please contact:
Mars Investor Relations
+1 (604) 335-1976
bmr@marsinvestorrelations.com
Harbor Access Corp.
475-477-9402
jody.kane@harbor-access.com
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 LookingStatements:
This news release includes certain“forward-looking statements” under applicable Canadian securitieslegislation. There can be no assurance that such statements will proveto be accurate, and actual results and future events could differmaterially from those anticipated in such statements. Forward-lookingstatements reflect the beliefs, opinions and projections of theCompany on the date the statements are made and are based upon anumber of assumptions and estimates that, while considered reasonableby the Company, are inherently subject to significant business,economic, competitive, political and social uncertainties andcontingencies. Many factors, both known and unknown, could causeactual results, performance, or achievements to be materiallydifferent from the results, performance or achievements that are ormay be expressed or implied by such forward-looking statements and theparties have made assumptions and estimates based on or related tomany of these factors. Such factors include, without limitation, theability of the Company to obtain sufficient financing to completeexploration and development activities, the ability of the Company tosecure the Advances under the Loan Agreement, timing of the completionof the Company’s audit, 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
Battery Mineral ResourcesCorp.
Martin Kostuik, CEO
+1 604-229-3830
CompanyWebsite
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