In This Article:
Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXD)(FSE:R0W, WKN:A3EMJB)("Battery X Metals" or the "Company") announces the repricing of an aggregate of 3,554,993 common share purchase warrants (the "Repriced Warrants") to a revised exercise price of $0.25 per Repriced Warrant, effective immediately (the "Warrant Repricing"). Under the policies of the Canadian Securities Exchange (the "CSE"), the Warrant Repricing is subject to the unanimous consent of the registered holders of the outstanding Repriced Warrants.
Following the Company's 3.3:1 share consolidation effective December 10, 2024 (the "Consolidation"), of the 3,554,993 Repriced Warrants:
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1,294,392 had an original exercise price of $0.66 ($0.20 pre-Consolidation) and an expiry date of January 24, 2026;
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355,151 had an original exercise price of $0.66 ($0.20 pre-Consolidation) and an expiry date of February 9, 2026;
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1,496,360 had an original exercise price of $0.33 ($0.10 pre-Consolidation) and an expiry date of July 29, 2026; and
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409,090 had an original exercise price of $0.33 ($0.10 pre-Consolidation) and an expiry date of September 3, 2026.
As the Warrant Repricing will result in an exercise price lower than the market price of the Company's common shares on the date the warrants were issued, CSE policies require that, if following the Warrant Repricing, for any ten consecutive trading days the closing price of the Company's common shares on the CSE exceeds the amended exercise price by 25%, the term of the Repriced Warrants must be amended to 30 days. The amended expiry date will be announced by the Company by press release and the 30-day period will commence seven days from the end of the ten consecutive trading day period referred to above.
About Battery X Metals Inc.
Battery X Metals (CSE:BATX) (OTCQB:BATXD) (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.
149% owned Portfolio Company
On Behalf of the Board of Directors
Massimo Bellini Bressi, Director
For further information, please contact:
Massimo Bellini Bressi
Chief Executive Officer