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Battery Mineral Resources Announces Filing of 2024 Annual Financials, Update on Q1 2025 Financials, and Closing of Weston Royalty Transactions
Vancouver, British Columbia--(Newsfile Corp. - July 9, 2025) - Battery Mineral Resources Corp. (T...
About this update from Battery Mineral Resources Corp
[{"type":"text","content":"Battery Mineral Resources Announces Filing of 2024 Annual Financials, Update on Q1 2025 Financials, and Closing of Weston Royalty TransactionsVancouver, British Columbia--(Newsfile Corp. - July 9, 2025) - Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) (\"Battery\" or \"BMR\" or the \"Company\") is pleased to share the following updates with its shareholders.Filing of 2024 Annual Financials and Update on Q1 2025 Financials On July 8, 2025, the Company filed its 2024 Annual Financials on SEDAR+, and expects to file its Q1 2025 financials on SEDAR+ by approximately July 11, 2025. The Company wishes to thank its shareholders for their patience in regards to these matters.2024 Annual Financials and Q1 Financials UpdateAs previously announced by the Company on April 11, 2025, the Company entered into definitive agreements with Weston Energy II LLC (\"Weston II\") and Weston Energy III, LLC (\"Weston III\", and together with Weston II, \"Weston\") to sell them a Gross Revenue Royalty (a \"GRR\") totalling 0.8232% in the aggregate, on the gross revenues produced by its Punitaqui copper mine in Chile (the \"Project\" or \"Punitaqui\"), in exchange for extinguishing debts (the \"Extinguished Debts\") owing by the Company (or its wholly-owned subsidiaries) to Weston in the aggregate amount of US$2,694,721 (C$3,841,324) (the \"Transaction\"). The GRR issued to Weston is on substantially similar terms to the Company's previously announced royalty transaction with Electric Royalties Ltd., described in the press release of the Company dated November 25, 2024.Transaction Terms with Weston II and Weston IIISpecifically, the Transaction was effected by the following agreements:(a) an agreement with Weston II pursuant to which the Company sold a 0.4840% GRR (the \"Weston II Royalty\") on the Project in exchange for extinguishing all amounts (including accrued and outstanding interest) owing by the Company to Weston II pursuant to the promissory note issued by the Company to Weston II on September 6, 2024 (as further described in the press releases of the Company dated September 9, 2024 and September 12, 2024), being an aggregate of US$1,584,333 (C$2,258,466); and(b) an agreement with Weston III pursuant to which the Company sold a 0.3392% GRR (the \"Weston III Royalty\", and together with the Weston II Royalty, the \"Royalties\") on th...