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Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:R0W, WKN:A3EMJB) ("Battery X Metals" or the "Company") announces that, further to its news release dated November 29, 2024, the Company will implement the consolidation of its issued and outstanding common shares (the "Common Shares") on the basis of three and one-third (3.3) pre-consolidation Common Shares for every one (1) post-consolidation Common Share (the "Consolidation"), effective as of December 10, 2024.
The Company's name and trading symbols will remain unchanged after the Consolidation. The new CUSIP number will be 07135M203 and its new ISIN number will be CA07135M2031 for the post-Consolidation Common Shares.
The total issued and outstanding number of Common Shares post-Consolidation will be approximately 21,493,985, subject to adjustments for rounding. No fractional Common Shares will be issued as a result of the Consolidation. Where the exchange results in a fractional share, the number of Common Shares will be rounded down to the nearest whole Common Share. The exercise or conversion price and/or the number of Common Shares issuable with respect to any of the Company's outstanding convertible securities will be proportionately adjusted in connection with the Consolidation.
A letter of transmittal with respect to the Consolidation will be mailed to registered shareholders of the Company. All registered shareholders with physical certificates will be required to send their certificates representing pre-Consolidation Common Shares along with a completed letter of transmittal to the Company's transfer agent, Endeavor Trust Corporation ("Endeavor"), in accordance with the instructions provided in the letter of transmittal. Additional copies of the letter of transmittal can be obtained through Endeavor or through the Company's profile on SEDAR+ at www.sedarplus.ca.
The board of directors of the Company is proceeding with the Consolidation on the basis that it may provide the Company with increased flexibility to seek additional financing opportunities.
About Battery X Metals Inc.
Battery X Metals (CSE:BATX)(OTCQB:BATXF)(FSE:R0W, WKN:A3EMJB) is committed to advancing the global clean energy transition through the development of proprietary technologies and domestic battery and critical metal resource exploration. The Company focuses on extending the lifespan of electric vehicle (EV) batteries, through its portfolio company, LIBRT1, recovering battery grade metals from end-of-life lithium-ion batteries, and the acquisition and exploration of battery and critical metals resources. For more information, visit batteryxmetals.com.