03:23:08 EDT Sun 05 May 2024
Enter Symbol
or Name
USA
CA



Green Battery Minerals Inc
Symbol GEM
Shares Issued 74,896,287
Close 2023-06-27 C$ 0.065
Market Cap C$ 4,868,259
Recent Sedar Documents

Green Battery receives cond. OK for claims acquisition

2023-06-27 16:15 ET - News Release

Mr. Tom Yingling reports

Green Battery Minerals Inc. has provided an update to shareholders on the progress of the property acquisition agreement dated Feb. 23, 2023. The company entered into an agreement with Michel Robert and Hugh Oswald (the vendors) to option 1,622.30 hectares of mineral claims semi-contiguous to the Berkwood graphite project located in Northern Quebec in consideration for the issuance of a warrant to purchase up to 613,000 common shares, exercisable at the price of nine cents per share for three years. The vendors are arm's length to the company. No finder's fee is payable.

The company has obtained conditional approval and is working toward closing the transaction. The company will update shareholders as events occur.

These claims are semi-contiguous to the company's Berkwood project and in the same graphite-bearing geological formation which contains graphitic outcrops. The Berkwood project is based on the concept of mining shallow contiguous graphite deposits and outcrops. The newly acquired claims also have similar and geophysical features as Berkwood and sampling has already produced high-grade graphite at surface. The properties are road accessible with excellent infrastructure nearby.

Tom Yingling, president and chief executive officer of Green Battery, states: "Our goal is to expand our graphite property landholdings in Quebec. These new claims have been added to the company's landholdings because they are 100 per cent owned, road accessible, and have similar geological and geophysical features as our Berkwood graphite project. The company has a 43-101 graphite resource estimate of indicated and inferred of 3.2 million tonnes on its Berkwood graphite project, and these new claims are semi-contiguous to it."

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