Battery Mineral Resources announces intention to issue C$5 Million in unsecured convertible debentures

Battery Mineral Resources Corp. has announced that it intends to complete a non-brokered private placement of unsecured convertible debentures (the “Debentures”) for total gross proceeds of up to C$5 million. The proceeds from the Debentures will be used to fund an extension of the successful 2021 exploration drilling program at the Company’s recently acquired Punitaqui copper project in Chile and for general working capital purposes.

The Debentures will mature on the date (the “Maturity Date”) that is three years from the date of issuance. The holder of any Debenture may, at its option, at any time from six months from the date of issuance, and prior to the close of business on the business day immediately preceding the Maturity Date, convert all, but not less than all, of the principal amount of such Debenture into common shares of the Company at the conversion price of C$0.65 per share.

Battery Mineral CEO, Martin Kostuik states, “Attaining funds to enable the advancement of our successful 2021 drilling program is a tremendous opportunity to bring increased value to the shareholders. By continuing the drilling, engineering, and permit modification activities, we are charging ahead towards copper production in a very robust copper market. We will take the opportunity to build on the success of the 2021 program now, instead of taking a pause, and are very encouraged that our largest shareholder is standing by us to help fund our progress – it is a great show of support. This round of financing provides funding to reach our next milestone and is a compelling arrangement with minimal shareholder dilution. We are a battery metal and electrification-focused company, and we remain as excited as ever about this sector of the global economy with copper reaching new highs as the gap between demand and supply continues. We look forward to updating the market and shareholders on further advancement of the Punitaqui mine in the coming days and weeks.”


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