Battery Metals

nsr green woods

Green Battery Minerals Increases Size of its Non-Brokered Private Placement

(TheNewswire)

Green Battery Minerals Inc.

Green Battery Minerals Inc. ("Green Battery" or the "Company") (TSXV:GEM ) ( FSE:BK2P ) ( WKN:A2QENP ) ( OTC:GBMIF) is pleased to announce that it has increased the size of its previously announced financing described in its news release of November 9, 2021. The Company previously disclosed that it would issue up to 3,500,000 flow-through units (the " FL Units ") at a price of $ 0.15 per FL Unit, for gross proceeds of $525,000.  Due to increased demand, the Company today announces that it has increased the number of FL Units to be issued, such that it will issue up to 13,500,000 FL Units for gross proceeds of up to $2,025,000 (the " Offering

Each FL Unit will consist of one common share in the capital of the Company that is issued on a flow-through basis in accordance with the Income Tax Act (Canada) (each, a " FL Share ") and one half of one share purchase warrant (each whole warrant, a " Warrant "), with each Warrant entitling the holder thereof to purchase one (non-flow-through) common share in the capital of the Company (each, a " Warrant Share ") at a price of $0.20 per Warrant Share for a period of twenty four months following issuance.

The proceeds from the Offering are expected to be used for Canadian exploration expenses and will qualify as flow-through mining expenditures, as defined in Subsection 127(9) of the Income Tax Act (Canada), which will be renounced to the subscribers with an effective date no later than December 31, 2021, to the initial purchasers of the FL Units in an aggregate amount not less than the gross proceeds raised from the issue of the flow-through shares, as applicable, and, if the qualifying expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each subscriber for any additional taxes payable by such subscriber as a result of the Company's failure to renounce the qualifying expenditures as agreed.  Net proceeds will be used for costs associated with the continued exploration/drill program and reports for a planned PEA for the Berkwood Graphite project.

Finder's fees and commissions will be payable in connection with the Offering in accordance with the policies of the TSX Venture Exchange (the " Exchange ").  All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Exchange.

None of the securities to be issued in connection with the Offering will be or have been registered under the United States Securities Act of 1933 , as amended (the " 1933 Act "), and none may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release is being issued pursuant to Rule 135c of the 1933 Act and 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 the Company: Green Battery Minerals is managed by a team with over 150 years of collective experience with a proven track record of not just finding numerous mines but building and operating them as well. The Green Battery Minerals management team's most recent success is discovering the Berkwood graphite deposit in Northern Québec. Green Battery Minerals owns 100% of this asset and the Company's shareholders will benefit from this asset as the demand for graphite for electric vehicles increases significantly.

On Behalf of the Board of Directors

Green Battery Minerals lnc.

‘Thomas Yingling'

President, CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT:

Investor Relations:
or 1-604-343-7740

info@greenbatteryminerals.com www.greenbatteryminerals.com

Disclaimer for Forward-Looking Information:

Certain statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that the Company will carry out the drill program described in this news release, conduct the Offering and expend funds on Berkwood Graphite Project exploration .  It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that further permits may not be granted timely or at all; the mineral claims may prove to be unworthy of further expenditure; there may not be an economic mineral resource; methods we thought would be effective may not prove to be in practice or on our claims; economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices; our specific plans and timing drilling, field work and other plans may change; we may not have access to or be able to develop any minerals because of cost factors, type of terrain, or availability of equipment and technology; and we may also not raise sufficient funds to carry out our plans. Additional risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for its recently completed fiscal period, which is available under Company's SEDAR profile at www.sedar.com . No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.  These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. Except as required by law, we will not update these forward-looking statement risk factors.

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

Copyright (c) 2021 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

The Conversation (0)
Gascoyne Resources Limited

Significant Assay Widths And Grades Outside Never Never Resource Envelope

Further visible gold from deep mineralised intercept well over 100m below the current resource

Gascoyne Resources Limited (“Gascoyne” or “Company”) (ASX: GCY) is pleased to report the latest assay results received from ongoing resource and exploration drilling at the Dalgaranga Gold Project in Western Australia.

Keep reading...Show less
three gold bars

Is Now a Good Time to Invest in Gold Stocks?

Gold has attracted attention this year, staying above the coveted US$2,000 per ounce mark for sizeable periods.

While this movement has excited market watchers, some investors are disappointed that gold stocks haven't followed suit. Gold equities are generally expected to provide outsized gains compared to the metal, and investors are waiting for a breakout.

What's weighing on gold stocks, and is now a good time to invest? The Investing News Network (INN) asked experts those questions, as well as what it will take for gold companies to move. Here's what they had to say.

Keep reading...Show less
Luminex Resources CEO Marshall Koval

Gold Price Hike Helped Luminex Resources Raise C$12.5 Million to Fund Drill Program, CEO Says

Luminex Resources (TSXV:LR,OTCQX:LUMIF) CEO Marshall Koval said the rising price of gold helped the company secure financing for a 10,200 meter drill program at the Condor project in Ecuador.

Over the last couple of months, the price of gold has moved up to more than US$2,000 per ounce and has pushed close to record highs, said Koval. “It really helped us. We were able to raise C$12.5 million in a really down market back about three months ago. So we've got funding for the next year ahead of us.”

In February, Luminex closed brokered and non-brokered private placements with gross proceeds of approximately C$12.5 million. In addition to funding its drill program, Luminex intends to use the capital to update the mineral resource estimate for Condor.

Keep reading...Show less

B2Gold Declares Second Quarter 2023 Dividend of $0.04 per Share

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") is pleased to announce that its Board of Directors (the "Board") has declared a cash dividend for the second quarter of 2023 of $0.04 per common share (or an expected $0.16 per share on an annualized basis), payable on June 27, 2023, to shareholders of record as of June 16, 2023. All dollar figures are in United States Dollars unless otherwise indicated.

As part of the long-term strategy to maximize shareholder value, B2Gold expects to declare future quarterly dividends at the same level. This dividend is designated as an "eligible dividend" for the purposes of the Income Tax Act (Canada). Dividends paid by B2Gold to shareholders outside Canada (non-resident investors) will be subject to Canadian non-resident withholding taxes.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
"approved" stamp

5 Top Weekly TSX Stocks: Centerra Gold Up on EIA Approval for Öksüt Mine

The S&P/TSX Composite Index (INDEXTSI:OSPTX) edged up last Friday (June 2), opening at 19,672.25.

After ending May down more than 3 percent, the index kicked off June by inching up, spurred on by higher commodities prices. Gold was back up above US$1,980 per ounce this week, with silver also seeing gains to trade almost at US$24 per ounce.

"Whatever variables you're looking at, whatever you think might be driving gold today — I think basically we set that aside, we look at the macro. And the macro I think is we're heading for a recession," said Lobo Tiggre, editor and founder of IndependentSpeculator.com. “That's very bullish for safe-haven assets, which include gold and silver."

Keep reading...Show less

Latest Press Releases

Related News

×