VANCOUVER, British Columbia, April 02, 2025 (GLOBE NEWSWIRE) — Vital Battery Metals Inc. (“Vital” or the “Company”) (CSE: VBAM | OTC: VBAMF | FRA: C0O), announces that it proposes to undertake a non-brokered private placement financing of up to 16,666,667 units (each, a “Unit”) of the Company at a purchase price of $0.065 per Unit, to raise total gross proceeds of up to $1,083,333 (the “Placement”).
Each Unit will consist of one common share of the Company (each, a “Share”) and one transferrable common share purchase warrant (each a “Warrant”). Each Warrant shall be exercisable into one additional common share for a period of 2 years from the closing date at an exercise price of $0.10. The Warrants contain an accelerated expiry clause (the “Acceleration Clause“). Pursuant to the Acceleration Clause, if the Shares of the Company close at or above $0.20 for ten (10) consecutive trading days on the Canadian Securities Exchange (“CSE“), then the Company may accelerate the expiry date of the Warrants by issuing a news release announcing the accelerated Warrant term, pursuant to which the Warrants will expire on the 30th calendar day after the date of such news release.
The Company will use the proceeds from the Placement towards exploration on the Company’s property and for general working capital purposes.
The Units will be offered to qualified investors in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation. The Company may pay finders’ fees to eligible finders in connection with the Placement, subject to compliance with applicable securities laws and the policies of the CSE. There will be a hold period of four months and one day on all securities issued under the Placement.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
About Vital Battery Metals Inc.
Vital Battery Metals Inc. (CSE: VBAM |OTC: VBAMF | FRA: C0O) is a mineral exploration company dedicated to the development of strategic projects comprised of battery, base and precious metals in stable jurisdictions. The Company is working to advance its Sting Copper Project.
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.
For more information, visit www.vitalbatterymetals.com.
On Behalf of the Board of Directors
Mandeep Parmar
Interim Chief Executive Officer, Director
+1 (604) 229-9772
[email protected]
Disclaimer for Forward-Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Forward looking statements in this news release include, but are not limited to, statements with respect to the Placement; the Company’s objectives, goals or future plans; the commencement of drilling or exploration programs in the future; the completion of the Placement. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.
