Corporate Update

Cruz Battery Metals Corp. (CSE: CRUZ) (OTCID: BKTPF) (WKN: A40YSN) ("Cruz" or the "Company") announces that it intends to complete a consolidation of its issued and outstanding common shares (the "Shares") on the basis of one new Share (a "Post-consolidated Share") for every ten currently outstanding Shares (the "Consolidation"). The Company also announces it intends to change its name in connection with the proposed Consolidation. There will be no change to the trading symbol "CRUZ".

Completion of the Consolidation and name change are subject to approval by the Canadian Securities Exchange (the "CSE"). The effective date of the Consolidation and name change will be announced in a subsequent news release.

It is anticipated that the Consolidation will reduce the number of outstanding Shares from 193,637,719 Shares to approximately 19,363,772 Post-consolidated Shares, subject to adjustment for rounding. The Board of Directors of the Company believes that the consolidation of the Shares will both enhance the marketability of the Company as an investment and better position the Company to raise funds necessary to execute the Company's business plan.

No fractional Post-consolidated Shares will be issued as a result of the Consolidation. As required under the Business Corporations Act (BC), any fractional Shares remaining after the Consolidation that are less than one half of a Share will be cancelled and any fractional Shares that are at least one half of a Share will be rounded up to one whole Share.

The exercise price and number of Shares of the Company, issuable upon the exercise of outstanding warrants, will be proportionally adjusted upon the implementation of the proposed Consolidation in accordance with the terms thereof.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this press release include that the Company intends to consolidate its share capital. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the Company may not obtain approval for the Consolidation from the CSE. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

Cruz Battery Metals Corp.

"James Nelson"

James Nelson
President, Chief Executive Officer, Secretary and Director

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/314479