Mr. Adrian Lamoureux reports
VITAL BATTERY METALS ANNOUNCES FLOW THROUGH PRIVATE PLACEMENT
Vital Battery Metals Inc. has arranged a non-brokered private placement of up to $800,000.
The company will issue up to 1,777,777 flow-through units at a purchase price of 45 cents per FT unit. Each FT unit will consist of one common share as defined in Subsection 66(15) of the Income Tax Act (Canada) as currently constituted, which shall qualify for the federal 30-per-cent critical mineral exploration tax credit, as defined in Subsection 127(9) of the Income Tax Act (Canada), and one-half of one transferable common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share at an exercise price of 60 cents for a period of 24 months from the closing date.
The company will use the proceeds from the placement toward exploration on the company's flagship Sting copper project. Finders' fees may be payable in accordance with the policies of the Canadian Securities Exchange. There will be a hold period of four months and one day on all securities issued under the placement.
About Vital Battery Metals Inc.
Vital Battery (Canadian Securities Exchange: VBAM, OTC: VBAMF and Frankfurt Stock Exchange: C0O) is a mineral exploration company dedicated to the development of strategic projects composed of battery, base and precious metals in stable jurisdictions. The company is working to advance its Schofield lithium, Dickson Lake lithium and Sting copper projects and its Vent copper-gold project.
The Sting copper project covers approximately 12,700 hectares, hosts multiple historic Newfoundland and Labrador government documented mineral occurrences, and is located within a 50-kilometre corridor known for significant volcanogenic massive sulphide, copper quartz vein lode and low-sulphation epithermal gold showings. The Vent copper-gold project covers 1,562 hectares in British Columbia. Vital Battery continues to evaluate value-add assets to bolster its project portfolio.
The Schofield lithium project covers 8,824 hectares and is adjacent to Brunswick Exploration's Hearst lithium project. The Schofield lithium project is located approximately 60 kilometres south of Hearst, Ont. The Dickson Lake lithium project covers 464 single-cell mining claims and approximately 9,780 hectares, and is near a Brunswick Exploration lithium project, Imagine Lithium's Jackpot deposit and Rock Tech's Georgia Lake deposit.
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