Battery Mineral Resources Announces Receipt of Funds in Connection with Closing of Previously Announced Royalty Financing
Vancouver, British Columbia--(Newsfile Corp. - December 5, 2024) - Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ("Battery" or "BMR" or the "Company") is pleased to announce that the Company has received a C$3,050,000 cash payment in connection with the closing of the previously announced royalty sale to Electric Royalties Ltd. (TSXV: ELEC) (OTCQB: ELECF), whereby Minera BMR SpA, the Company's wholly-owned Chilean subsidiary, has granted a 0.75% Gross Revenue Royalty on its producing Punitaqui copper mine in Chile ("Punitaqui") in exchange for total cash consideration of C$3,500,000. The remaining C$450,000 is payable to Minera BMR SpA within 45 days of closing. See press release dated November 25th, 2024 for complete details of the royalty transaction.
Martin Kostuik, Chief Executive Officer, stated, "BMR is very pleased and encouraged to work with Electric Royalties and would like to thank both teams for bringing this very important and favorable source of funding to fruition. We are looking forward to updating our stakeholders as we progress towards full production at Punitaqui."
About Battery Mineral Resources Corp.Battery Mineral Resources' mission is to build a mid-tier copper producer and has recently initiated mine and mill operations at the Punitaqui Mining Complex, a historic copper-gold-silver producer, in the Coquimbo region of Chile. The Company's portfolio also consists of two cobalt assets and one lithium asset located in North America and two graphite assets in South Korea. The Company is focused on providing shareholders accretive exposure to copper and the global mega-trend of electrification while being focused on growth through cash-flow, exploration, and acquisitions in favorable mining jurisdictions.
For more information about Battery Minerals, please visit our website at, https://bmrcorp.com or email us at info@bmrcorp.com.
For more information, please contact:
Martin Kostuik, CEO Phone: +1 (604) 628-1110
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Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable securities laws, including without limitation statements relating to the closing of the Electric Transaction statements regarding anticipated production timing and capacity and statements regarding the anticipated use of proceeds of the Transaction. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of the Company on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain sufficient financing to complete exploration and development activities, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the ability of the Company to meet its anticipated development and production schedule, government regulation and fluctuating metal prices. Accordingly, readers should not place undue reliance on forward-looking statements. BMR undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein, whether as a result of new information or future events or otherwise, except as may be required by law. For further information regarding the risks please refer to the risk factors discussed in BMR's most recent Management Discussion and Analysis filed on SEDAR+ at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232696
SOURCE Battery Mineral Resources Corp.
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