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Battery Mineral Announces Removal of Trading Halt
Vancouver, British Columbia--(Newsfile Corp. - March 18, 2021) -  Battery Mineral Resourc...
About this update from Battery Mineral Resources Corp
[{"type":"text","content":"Battery Mineral Announces Removal of Trading HaltVancouver, British Columbia--(Newsfile Corp. - March 18, 2021) -  Battery Mineral Resources Corp. (TSXV: BMR) (\"Battery\" or the \"Company\") announced today that the TSX Venture Exchange (the \"TSXV\") has agreed to lift the trading on its common shares. on Monday, March 22, 2021.The common shares were halted in connection with the Company's announcement that its wholly-owned subsidiary Minera BMR SpA had entered into an agreement with Minera Altos de Punitaqui Limitada (\"MAP\"), a wholly-owned subsidiary of Xiana Mining Inc. (\"Xiana\"), to acquire the Punitaqui Mining Complex, a copper-gold mine located in the Coquimbo region of Chile (the \"Punitaqui Acquisition\"). In connection with the the Punitaqui Acquisition, the Company has entered into a loan purchase agreement with Bluequest Resources AG (\"Bluequest\") pursuant to which the Company will acquire Bluequest's interest in secured loan obligations with a principal amount of US$10,000,000 owed by Xiana to Bluequest (the \"Xiana Indebtedness\") and all associated rights, including Bluequest's security interest in MAP and the Punitaqui Mine Complex. Acquiring the Xiana Indebtedness and the associated security will enable the Company to acquire its leasehold interest in the Punitaqui Mine Complex free and clear of the prior claims of any third party secured creditors.The Punitaqui Acquisition is a \"fundamental acquisition\" pursuant to the policies of the TSXV and, accordingly, the common shares were halted from trading on the TSXV pending review of documentation regarding the Punitaqui Acquisition.Completion of the Punitaqui Acquisition is subject to a number of closing conditions, including approval of the TSXV and the completion of its previously announced private placement of up to $15,000,000 of common shares (the \"Private Placement\").About Battery Mineral Resources Corp.Battery is a Canadian-based, multi-commodity resource company. Battery is engaged in the discovery, acquisition, and development of battery metals (cobalt, nickel & copper) and precious metals (silver & gold) mining projects in Canada, with additional cobalt, lithium and graphite projects in the United States and South Korea. Battery is the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp, Canada, with various hi...