Mr. Adrian Lamoureux reports
VITAL BATTERY METALS ANNOUNCES PRIVATE PLACEMENT FINANCING
Vital Battery Metals Inc. is proceeding with a non-brokered private placement for gross proceeds of up to $500,000, consisting of units of the company at a price of 11.5 cents per unit.
Each unit will consist of one common share of the company and one-half of one transferable warrant. Each warrant will entitle the holder to purchase one common share for 24 months at a price of 15 cents per share.
Closing of the private placement is subject to the Canadian Securities Exchange approval. The private placement is being conducted pursuant to National Instrument 45-106, Part 5A, Listed Issuer Finance Exemption. There is an offering document related to the private placement that can be accessed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.
The net proceeds of the private placement are expected to be used toward advancement of the company's Sting property and for general working capital purposes. The company may pay finders' fees consisting of 6-per-cent cash and 6-per-cent warrants in connection with the private placement. The warrants shall bear the same terms as the warrants issued under the units pursuant to the private placement.
About Vital Battery Metals Inc.
Vital Battery Metals is a mineral exploration company dedicated to the development of strategic projects comprised battery, base and precious metals in stable jurisdictions. The company is working to advance its Schofield lithium, Dickson Lake lithium, Sting copper project and Vent copper-gold projects.
The Sting copper project covers approximately 12,700 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 sulfide (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.
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 km 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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