American Battery Metals Corporation (OTCQB:ABML), formerly LithiumOre/Oroplata, an American-owned advanced extraction and battery recycling technology company with valuable mineral resources in Nevada, is pleased to announce that it has repaid and satisfied all the convertible notes that had become due and convertible into common stock at a discount to market.
American Battery Metals Corporation Chief Executive Officer, Doug Cole, stated, “As an emerging growth micro-cap publicly traded company, we had to do what was needed to survive and advance our business. With that said, we were grateful to attract funding from institutional convertible notes over the past two years to advance the company to where it is today. However, as additional notes matured and recently became convertible into common stock, we realized the negative effects those conversions were having on the dilution of our stock and the downward pressure on its price. Thus, we have repaid and satisfied these convertible notes in order to avoid any further potential equity dilution. At this time, there are other convertible notes that have yet to mature and currently have no ability to convert into equity. As these other convertible notes get closer to maturity, we are prepared to repay and satisfy them as well to prevent any further equity dilution and to let the stock trade on its own merits. We look forward to keeping our shareholders and the Wall Street community updated as the company continues to meet its goals to become a major U.S. battery metals supplier.”
American Battery Metals Corporation
American Battery Metals Corporation (www.batterymetals.com) (OTCQB:ABML) is an American-owned, advanced extraction and battery recycling technology company with valuable mineral resources in Nevada. The company is focused on its lithium-ion battery recycling and resource production projects in Nevada, with the goal of becoming a substantial domestic supplier of battery metals to the rapidly growing electric vehicle and battery storage markets.
For more information, please visit: www.batterymetals.com