With Proceeds to be Used for Repayment of All Remaining Convertible Debt and Construction of Battery Metals Recycling Plant
Strategic Investment at Fixed Price of $0.25 per Share
February 19, 2020 - American Battery Metals Corporation (OTCQB:ABML) ( "the Company"), an advanced technology battery recycling and resource production company based in Nevada, today announced significant strategic capital investment for the Company.
Doug Cole, the Chief Executive Officer of American Battery Metals Corporation, stated, "
American Battery Metals Corp. has received a commitment for $10 million in equity financing (the "Investment") from Newood Finance Solutions Limited, a Fiji corporation doing business as Unifinance Limited ("Unifinance), which is an affiliate of VCM Group Pty Limited ("VCM"), our EPC, Engineering, Procurement, and Construction partner. The Investment is in the form of a purchase of the Company's Series B preferred stock which is convertible into common stock of the Company at a fixed price of $0.25 per share. Unifinance has irrevocably committed to fund the entire amount of the Investment prior to April 19, 2020."
Investors are encouraged to review more details of the Investment which shall be set forth in a form 8-K filing expected to be filed with the Securities and Exchange Commission on or about February 19, 2020.
The Company intends to use the Investment proceeds to eliminate a portion of its convertible debt, construction of a new, scalable battery recycling plant in Nevada, (which is scheduled to be fully operational late 2020), and general working capital needs.
Mr. Cole continued, "This strategic investment is a major step toward attaining the Company's goals of eliminating approximately $2.5 million of convertible notes, gaining profitability, a healthier balance sheet and uplisting to a major exchange in 2020. Elimination of outstanding convertible debt shall allow the stock to trade on its own merits."
VCM Director, Michael Vogel, commented, "We are truly pleased to partner with American Battery Metals Corp., not just because it is a fast-moving, leading-edge technology company, but also because we are excited to be a part of the accelerated development of the Company's lithium-ion battery recycling facility. The American Battery Metals Corp. recycling process will address a global e-waste challenge, while reintroducing critically-needed materials back into the supply chain for the electric vehicle and energy storage sectors."
With this new funding commitment, American Battery Metals Corp. is well-positioned aggressively to pursue its main areas of focus; lithium-ion battery recycling and its advanced extraction technology. American Battery Metals Corp. has assembled a talented team with vast experience in battery metals, state of the art recycling technology, extraction, and resource permitting. The VCM sourced funding provides important resources to realize American Battery Metals Corp.'s vision of becoming the world's first fully integrated battery metals supply chain provider.
American Battery Metals Corp.
American Battery Metals Corp. (OTCQB:ABML) is an advanced technology lithium-ion battery recycling and resource production company based in Nevada. The company is focused on its lithium-ion battery recycling and resource production projects in Nevada, with the goal of becoming a substantial domestic supplier of battery metals to the rapidly growing electric vehicle and battery storage markets in America.
For more information, please visit: www.batterymetals.com
Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the expected project economics for Western Nevada Basin (Railroad Valley), including estimates of life of mine, average production, cash costs, AISC, initial CAPEX, sustaining CAPEX, pre-tax IRR, pre-tax NPV, net cash flows and recovery rates, the impact of self-mining versus contract mining, the timing to obtain necessary permits, the submission of the project for final investment approval and the timing of initial gold production after investment approval and full financing, metallurgy and processing expectations, the mineral resource estimate, expectations regarding the ability to expand the mineral resource through future drilling, ongoing work to be conducted at the Western Nevada Basin (Railroad Valley), and the potential results of such efforts, the potential commissioning of a Pre-Feasibility study and the effects on timing of the project, are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended September 30, 2019. The Company assumes no obligation to update any of the information contained or referenced in this press release.
Contact Information
American Battery Metals Corp.
p775-473-4744
info@batterymetals.com
