Battery X Metals Finalizes Private Placement and Debt Settlement

Battery X Metals Inc., a Vancouver-based company, has announced the successful closing of its non-brokered private placement financing. This financing round resulted in the issuance of nearly 12 million units, each priced at $0.05, amassing a total of approximately $600,000. Each unit offers a common share and a warrant, allowing purchase of additional shares at $0.075 until December 2026.

The company plans to use the funds to settle outstanding payables and for general working capital. The company also settled a $600,000 debt with insiders and creditors using a similar unit structure. A notable aspect of this transaction is that it bypassed usual valuation requirements under specific conditions, aligning with Canadian Securities Exchange policies.

The issued securities will be under a four-month holding period, prohibiting resale until April 2025. The company emphasized the urgency of addressing its financial obligations, thus shortening the usual regulatory timeline. This transaction does not involve an offer in the United States.