Battery Mineral Resources closes $10 million private placement first tranche

Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) closed the first tranche of its non-brokered private placement offering, issuing 50 million common shares at $0.20 per share for gross proceeds of $10 million, according to a company statement.

The shares were issued under the Listed Issuer Financing Exemption and are not subject to resale restrictions under Canadian securities laws. The offering was conducted in the United States through private placement exemptions and in other jurisdictions on a private placement basis.

"We are very pleased to close the first tranche of the LIFE offering, which reflects continued support for Battery Mineral Resources and our strategy to advance operations and underground development at Punitaqui," said Lazaros Nikeas, Chief Executive Officer.

The company paid EAS Advisors LLC, acting through Odeon Capital Group, a cash commission of $456,690 in connection with the closing. Related parties acquired 3.69 million shares in the transaction, which the company classified as a related party transaction under applicable regulations.

Battery Mineral Resources plans to use the net proceeds to advance processing plant operations and underground development at its Punitaqui Mining Complex in Chile's Coquimbo region, along with general working capital purposes.

The company also completed a debt settlement, issuing 10.65 million shares at $0.20 per share to settle $1.56 million in outstanding debt, using a USD/CAD exchange ratio of 1.369.

This offering is separate from a previously announced private placement of up to 174.4 million shares at $0.20 per share disclosed in January 2026, which the company continues to pursue subject to regulatory approval.

Battery Mineral Resources operates the Punitaqui Mining Complex, a copper, gold, and silver-producing mine in Chile, and owns ESI Energy Services Inc. and North American mineral exploration assets.

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