Battery Mineral Resources plans $34.9 million private placement

Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) announced plans to complete a non-brokered private placement of 174,430,850 common shares at C$0.20 per share, according to a company statement.

The private placement aims to raise aggregate gross proceeds of approximately $34,886,170 ($25,300,000 USD). The company stated it will use net proceeds for general working capital purposes.

Completion of the private placement requires regulatory approvals, including acceptance by the TSX Venture Exchange. Securities issued will be subject to a four-month hold period from the date of issuance under Canadian securities laws, plus additional restrictions that may apply under securities laws of other jurisdictions.

The company reported no finder's fees are payable in connection with the private placement.

Battery Mineral Resources operates the Punitaqui Mining Complex, a copper, gold, and silver-producing mine in Chile's Coquimbo region. The company's portfolio includes wholly-owned ESI Energy Services Inc. and North American mineral exploration assets.

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