Battery Mineral Resources (TSX.V: BMR) (OTCQB: BTRMF), a battery minerals company providing shareholders exposure to the global megatrend of electrification, is reporting the second closing of the private placement of senior unsecured convertible debentures. According to the announcement, the placement was announced on Oct. 17, 2023, and is for an estimated $1.915 million in gross proceeds. The company is reporting that the second closing brings the total amount of new funding raised through both closings to $3,285,000. Battery Mineral Resources anticipates using the funds from the debentures for working capital and the restart of copper concentrate production at its Punitaqui copper project in Chile. The company is continuing to work to secure the balance of the capital needed for the restart, which it projects will be approximately $13 million, prior to corporate costs and other asset-holding costs and including what amounts raised in the private placement. “We are very pleased to announce this second closing of the debenture offering and look forward to providing further updates regarding this debenture and other forms of nondilutive funding for the resumption of operations at our Punitaqui mine in the coming weeks,” said Battery Mineral Resources CEO Martin Kostuik in the press release.
To view the full press release, visit https://ibn.fm/vPiqf
About Battery Mineral Resources Corp.
Battery Mineral Resources is a battery minerals company providing shareholders exposure to the global megatrend of electrification while being focused on growth through cash flow, exploration and acquisitions in favorable mining jurisdictions. Battery Mineral’s mission is the discovery, acquisition and development of battery metals (namely cobalt, lithium, graphite and copper) in North America, South America and South Korea, and to become a premier and responsible supplier of battery minerals to the electrification marketplace. BMR is currently pursuing a near-term resumption of operations of the Punitaqui Mining Complex, a past copper-gold producer in the Coquimbo region of Chile. BMR is the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp in Ontario, Canada, and continues to pursue a focused program to build on the recently announced, 1-million-pound-plus high-grade cobalt resource at McAra. In addition, Battery Mineral owns 100% of ESI Energy Services Inc., a profitable mainline pipeline and renewable energy equipment rental and sales company with operations in Alberta, Canada, and the state of Arizona. For more information about the company, visit www.BMRCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to BTRMF are available in the company’s newsroom at https://ibn.fm/BTRMF
About InvestorWire
InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published: https://www.InvestorWire.com/Disclaimer
InvestorWire
Los Angeles, CA
www.InvestorWire.com
310.299.1717 Office
Editor@InvestorWire.com
InvestorWire is powered by IBN
