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Vancouver, British Columbia--(Newsfile Corp. - June 10, 2024) - Cruz Battery Metals Corp. (CSE: CRUZ) (OTC Pink: BKTPF) (FSE: A3CWU7) ("Cruz" or the "Company") has closed a non-brokered listed issuer financing exemption (LIFE) private placement of 6,250,000 units at a price of $0.036 per unit (the "Offering"). Each unit consists of one common share of the Company and one share purchase warrant to purchase one common share of the Company at a price of $0.05 for a period of 60 months from the Closing Date. The Company intends to use the net proceeds of the Offering for the Company's general working capital, and evaluation and work on the existing projects.
Jim Nelson, President of Cruz Battery Metals, stated, "Cruz is now in a position to refocus on building shareholder value, and we look forward to a much more active second half of 2024."
The units sold under the Offering were issued and sold pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 Prospectus Exemptions (the "Listed Issuer Financing Exemption"). A copy of the offering document under the Listed Issuer Financing Exemption dated May 30, 2024 is available under the Company's profile at www.sedarplus.ca and on the Company's website at www.cruzbatterymetals.com. All units issued pursuant to the Listed Issuer Financing Exemption are not subject to resale restrictions in Canada in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange (the "CSE").
None of the securities issued have been registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
About Cruz Battery Metals Corp.
Cruz currently has several projects located throughout North America. Cruz's Nevada lithium projects consist of the 8,135-acre 'Solar Lithium Project' and the 240-acre 'Clayton Valley Lithium Project'. Cruz's 6,146-acre Hector cobalt project is located in the vicinity of the town of Cobalt, Ontario, which is prospective for cobalt, silver, and diamonds. Cruz's Idaho projects include the 2,211-acre 'Idaho Cobalt Belt Project' and the 80-acre 'Idaho Star Cobalt Project'. Management cautions that past results or discoveries on properties in proximity to Cruz may not necessarily be indicative of the presence of mineralization on the Company's properties.