Mr. Massimo Bressi reports
BATTERY X METALS ANNOUNCES REPRICING OF WARRANTS
Battery X Metals Inc. has repriced an aggregate of 3,554,993 common share purchase warrants to a revised exercise price of 25 cents per repriced warrant, effective immediately. Under the policies of the Canadian Securities Exchange, the warrant repricing is subject to the unanimous consent of the registered holders of the outstanding repriced warrants.
Following the company's 3.3:1 share consolidation effective Dec. 10, 2024, of the 3,554,993 repriced warrants:
- 1,294,392 had an original exercise price of 66 cents (20 cents preconsolidation) and an expiry date of Jan. 24, 2026;
- 355,151 had an original exercise price of 66 cents (20 cents preconsolidation) and an expiry date of Feb. 9, 2026;
- 1,496,360 had an original exercise price of 33 cents (10 cents preconsolidation) and an expiry date of July 29, 2026;
- 409,090 had an original exercise price of 33 cents (10 cents preconsolidation) and an expiry date of Sept. 3, 2026.
As the warrant repricing will result in an exercise price lower than the market price of the company's common shares on the date the warrants were issued, Canadian Securities Exchange policies require that, if, following the warrant repricing, for any 10 consecutive trading days the closing price of the company's common shares on the CSE exceeds the amended exercise price by 25 per cent, the term of the repriced warrants must be amended to 30 days. The amended expiry date will be announced by the company by press release, and the 30-day period will commence seven days from the end of the 10-consecutive-trading-day period referred to above.
About Battery X Metals Inc.
Battery X Metals is committed to advancing the global clean energy transition through the development of proprietary technologies, and domestic battery and critical metal resource exploration. The company focuses on extending the lifespan of electric vehicle (EV) batteries through its portfolio company, LIBRT (1), recovering battery-grade metals from end-of-life lithium-ion batteries, and the acquisition and exploration of battery and critical metals resources.
(1) 49-per-cent-owned portfolio company
We seek Safe Harbor.
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