Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXD)(FSE:R0W, WKN:A3EMJB)("Battery X Metals" or the "Company") an energy transition resource exploration and technology company, announces that it has engaged an arms-length geological consulting firm (the "Geological Firm") to conduct property evaluations and preliminary work programs for the Company's core battery and critical mineral exploration projects. The scope of the engagement includes an assessment of claim status and annual costs, a geological overview of the properties, a review of historical work completed (based on Company-provided data), and recommendations for 2025 field programs to advance strategic exploration initiatives.
Further to the Company's news release dated January 6, 2025, which highlighted exploration results at its flagship Gold-Copper Belanger Project in Red Lake, Ontario-located in one of Canada's most prolific gold mining districts-Battery X Metals remains focused on unlocking the full potential of its exploration portfolio.
The engagement of the Geological Firm underscores the Company's commitment to advancing its core battery and critical mineral exploration projects, which include:
Belanger Project (Red Lake, ON): A gold-copper projected located in one of Canada's most prolific gold mining districts.
Leaf River Project (Nunavik, QC): A lithium project adjacent to Eureka Lithium's New Leaf Project.
Reservoir-Dozois Project (Abitibi, QC): A lithium project situated near Sayona Mining's Abitibi Lithium Hub.
Y Lithium Project (Bailey Lake, SK): A prospective lithium project.
Battery X Metals strives to maximize the value of its battery and critical mineral exploration projects, while remaining mindful of market conditions, financial resources, and practical business considerations.
For more information about the Company and its projects, please visit www.batteryxmetals.com.
Warrant Update
The Company also announces the acceleration of the expiry date of its outstanding common share purchase warrants issued on January 24, 2024, February 9, 2024, July 29, 2026, and September 3, 2026 (the "Repriced Warrants").
On January 22, 2025, the price of the Company's common shares on the Canadian Securities Exchange (the "CSE") closed at $0.37, after closing at or above $0.31 for a period of 10 consecutive trading days (the "Trading Period"). In accordance with the certificates representing the Repriced Warrants and the policies of the CSE, this triggers the Company's obligation to accelerate the expiry date of the Repriced Warrants held by shareholders who participated in the private placements detailed in the Company's news releases dated January 23, 2024, February 8, 2024, July 29, 2024 and September 3, 2024. For more information on the Repriced Warrants, please see the Company's news release dated January 7, 2025.
Following the exercise of 180,000 Repriced Warrants on January 23, 2025, 3,374,993 Repriced Warrants remain outstanding as of January 24, 2025.
The exercise period of the Repriced Warrants has been accelerated to 30 days, and commences 10 days from the Trading Period. Accordingly, the new expiry date of the Repriced Warrants is March 2, 2025. Any Repriced Warrants that are unexercised will expire and be cancelled after 5:00 p.m. (Vancouver time) on March 2, 2025.
Warrant holders are encouraged to exercise their Repriced Warrants prior to the new expiry date. For additional information or assistance, warrant holders are advised to contact the Company directly.
About Battery X Metals Inc.
Battery X Metals (CSE:BATX) (OTCQB:BATXD) (FSE:R0W, WKN:A3EMJB) is an energy transition resource exploration and technology company dedicated to advancing domestic battery and critical metal resource exploration while developing proprietary technologies. The Company focuses on exploring battery metals, recycling battery materials, and extending the lifespan of lithium ion and electric vehicle (EV) batteries through its portfolio company, LIBRT1. For more information, visit batteryxmetals.com.
1 Li-ion Battery Renewable Technologies Inc., 49% owned portfolio company
This news release contains forward-looking statements within the meaning of applicable securities laws. These statements relate to the Company's objectives, strategies, and future plans, including the engagement of the Geological Firm, the preliminary assessment and advancement of the Company's exploration projects, the acceleration and exercise of common share purchase warrants, and the Company's energy transition initiatives. Specific forward-looking statements include expectations regarding the assessment and exploration of the Belanger Project, Leaf River Project, Reservoir-Dozois Project, and Y Lithium Project; the exercise of the Repriced Warrants; the anticipated proceeds from warrant exercises and their impact on the Company's financial position; and the Company's commitment to contributing to the clean energy transition through exploration and proprietary technologies. These forward-looking statements are based on current expectations, assumptions, and beliefs as of the date of this release. However, they involve known and unknown risks, uncertainties, and other factors that could cause actual results or events to differ materially from those expressed or implied. Risks include, but are not limited to, market volatility, fluctuations in the Company's share price, the ability of warrant holders to exercise their warrants before the accelerated expiry date, changes in exploration project timelines or outcomes, regulatory changes, and other risks related to the Company's operations, exploration activities, and commercialization efforts. Battery X Metals assumes no obligation to update or revise any forward-looking statements to reflect events, circumstances, or changes in expectations, except as required by law. Investors are cautioned not to place undue reliance on these forward-looking statements and are encouraged to refer to the Company's public filings on SEDAR+ for further risk disclosures.
