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Vital Battery Metals Inc
Symbol VBAM
Shares Issued 29,066,450
Close 2022-11-09 C$ 0.38
Recent Sedar Documents

Vital Battery closes $2.3-million private placement

2022-11-09 15:58 ET - News Release

Mr. Adrian Lamoureux reports

VITAL BATTERY METALS CLOSES PRIVATE PLACEMENT

Vital Battery Metals Inc. has closed a non-brokered private placement offering, as previously announced on Sept. 21, 2022, for total gross proceeds of $2.3-million.

The company has allotted and issued 9.2 million units at a price of 25 cents per unit. Each unit consists of one common share of the company and one transferable share purchase warrant, entitling the holder to acquire one additional common share at an exercise price of 35 cents for a period of 24 months from the closing date.

In relation to the private placement, the company has paid finders' fees of $58,975 and issued 235,900 finders' warrants to arm's-length parties, entitling the holder to acquire one share at a price of 35 cents per share for a period of 24 months.

The company will use the proceeds from the private placement towards exploration on the company's Sting and Vent properties and for general working capital. All securities issued pursuant to the private placement will be subject to a hold period expiring March 9, 2023.

About Vital Battery Metals Inc.

Vital Battery Metals is a mineral exploration company dedicated to the development of strategic projects comprising battery, base metals and precious metals in stable jurisdictions. The company is working to advance its Sting copper project and its Vent copper-gold project.

The Sting project covers approximately 30.6 square kilometres (3,060 hectares) and hosts multiple historic Newfoundland and Labrador government-documented mineral occurrences, and is located within a 50 km corridor known for significant volcanogenic massive sulphide (VMS), copper quartz vein lode and low sulphation epithermal gold showings. The Vent copper-gold project covers 1,562 hectares in British Columbia. Vital continues to evaluate value-add assets to bolster its project portfolio.

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