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Battery Mineral Resources Announces Proposed Shares for Debt Transaction
Vancouver, British Columbia--(Newsfile Corp. - December 10, 2025) - Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ("Battery" or "BMR" or the "Compa
About this update from Battery Mineral Resources Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - December 10, 2025) - Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) (\"Battery\" or \"BMR\" or the \"Company\") is pleased to announce that it has reached an agreement to settle up to USD$23,003,980 in outstanding debt (the \"Settlement Amount\") through the issuance of up to an aggregate of 159,153,035 common shares of the Company (\"Common Shares\") at a price of CAD$0.20 per Common Share (the \"Debt Settlement\"). The Debt Settlement is expected to strengthen the Company's balance sheet and enhance its financial flexibility for future growth initiatives. The Settlement Amount represents obligations owed to Weston Energy LLC and Weston Energy II LLC (the \"Weston Entities\") under unsecured convertible debentures of the Company (the \"Debentures\"), which were originally issued pursuant to a private placement of unsecured convertible debentures between October 2023 and November 2024 (the \"Original Offering\"). The obligations owed to the Weston Entities represent approximately 92.8% of the total outstanding debt under all convertible debentures issued by the Company as part of the Original Offering. Under the terms of the Debentures, the Weston Entities have provided notice to the Company that the principal amount and all accrued and unpaid interest thereon have become due and payable, and the proposed Debt Settlement will satisfy these obligations in full through the issuance of the Common Shares. The Company's board of directors and management believe that completing the Debt Settlement is in the best interests of the Company as it will allow the Company to preserve its cash resources for ongoing operations and strategic initiatives. Completion of the Debt Settlement remains subject to receipt of all necessary regulatory approvals, including acceptance by the TSX Venture Exchange. All securities issued in connection with the Debt Settlement will be subject to a four-month hold period from the date of issuance in accordance with applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. MI 61-101 Matters The participation by the Weston Entities in the Debt Settlement constitutes a \"related party transaction\" for the purposes of MI 61-101, as the Weston Entities are affi...