Battery Mineral Resources closes first tranche of private placement

Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) completed the first tranche of its non-brokered private placement offering, issuing 2,258,235 common shares at $0.20 per share for gross proceeds of $451,647.

The shares were issued under the Listed Issuer Financing Exemption pursuant to National Instrument 45-106 and are not subject to resale restrictions under Canadian securities laws. The offering was also conducted in the United States as a private placement under exemptions from registration requirements of the Securities Act of 1933.

The company plans to use net proceeds to advance processing plant operations and underground development at its Punitaqui Mining Complex in Chile's Coquimbo region, along with general working capital purposes. No finder's fees were paid in connection with the closing.

Battery Mineral Resources operates the Punitaqui Mining Complex, a copper, gold and silver-producing mine in Chile. The company's portfolio includes ESI Energy Services Inc. and North American mineral exploration assets.

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