Mr. Massimo Bellini Bressi reeports

BATTERY X METALS ANNOUNCES UP TO $2 MILLION PRIVATE PLACEMENT FINANCING AND INITIATIVE TO STRENGTHEN BALANCE SHEET

Battery X Metals Inc. has a series of strategic initiatives intended to advance the company's corporate growth objectives and strengthen its balance sheet.

Private placement to advance strategic corporate growth initiatives

The company has proposed a non-brokered private placement financing, consisting of the issuance of an aggregate of up to 727,272 units of the company, at a price of $2.75 per unit for aggregate gross proceeds of up to $2-million.

Each unit will consist of one common share in the capital of the company and one transferable common share purchase warrant of the company, with each warrant entitling the holder to acquire one additional share at a price of $3 per warrant share for a period of 24 months from the date of closing.

Closing of the private placement is anticipated to occur on or about June 12, 2026, and may be completed in one or more tranches, subject to compliance with the policies of the Canadian Securities Exchange.

The net proceeds of the private placement are intended to be allocated toward advancing the company's business initiatives, including expenses related to corporate development and regulatory matters in connection with strategic capital markets initiatives, the payment of outstanding and future payables and indebtedness, corporate awareness, and general working capital purposes. These proceeds are expected to support the company's integrated 360-degree strategy across the battery metals value chain, encompassing exploration, rebalancing and recycling, and the continued advancement of next-generation solutions that contribute to the global clean energy transition. The securities issued under the private placement will be subject to a statutory hold period expiring four months and one day from the date of issuance.

Initiative to strengthen financial position

The company announces that it intends to settle outstanding indebtedness in an aggregate amount of up to $250,000 owing to certain creditors of the company. The debt settlement is anticipated to be satisfied through the issuance of an aggregate of 83,333 common shares of the company at a deemed price of $3 per debt share. The securities issued under the debt settlement will be subject to a statutory hold period expiring four months and one day from the date of issuance. Closing of the debt settlement is expected to occur on or about June 12, 2026.

Insiders may participate in the private placement and debt settlement, and such participation may constitute a related party transaction under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under subsections 5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in the debt settlement by insiders will not exceed 25 per cent of the fair market value of the company's market capitalization.

About Battery X Metals Inc.

Battery X Metals is an energy transition resource exploration and technology company committed to advancing domestic battery and critical metal resource exploration and developing next-generation proprietary technologies. Taking a diversified, 360-degree approach to the battery metals industry, the company focuses on exploration, life span extension, and recycling of lithium-ion batteries and battery materials.

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