Battery Mineral Resources Corp. Announces Agreements with Javelin Global Commodities

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[{"type":"text","content":"Battery Mineral Resources Corp. Announces Agreements with Javelin Global Commodities\n \n \n (NewsDirect)\n \n \n Battery Mineral\nResources Corp. (\n \n TSXV: BMR\n \n ) (\n \n OTCQB: BTRMF\n \n )\n(“\n \n Battery\n \n ” or “\n \n BMR\n \n ” or the “\n \n Company\n \n ”)\nis pleased to announce that its Chilean subsidiary, Minera BMR SpA\n(“\n \n Minera\n \n ”) has entered into a marketing agreement, master\npurchase and sale agreement, a copper concentrate pre-payment and\nadvance payment terms arrangements (collectively, the\n“\n \n Agreements\n \n ”) with Javelin Global Commodities\n(“\n \n Javelin\n \n ”). It is intended that, pursuant to the\nAgreements, Javelin will market the copper concentrate, gold, silver,\nand other metals, (“\n \n Product\n \n ”), produced at the Punitaqui\nPlant located at the Punitaqui Mining Complex\n(“\n \n Punitaqui\n \n ”), provide a US$5,000,000 copper concentrate\npre-payment and offer advance payment terms in respect of shipments of\nProduct delivered from time to time in an amount of up to\nUS$20,000,000.\n \n \n \n Marketing Agreement\n \n \n \n Pursuant to the marketing agreement, Minera\nappoints Javelin as its exclusive marketing agent for sales of Product\nto be produced at Punitaqui for a term of 11 years. In consideration\nfor provision of marketing services, Javelin will earn a variable\ncommission based on Product price receivable by Minera from the sale\nof Product facilitated through Javelin’s marketing activities. The\nmarketing agreement is subject to pre-agreed upon exclusions for\ncertain Product which will not be marketed by Javelin.\n \n \n \n US$5,000,000 Copper\nConcentrate Prepay\n \n \n \n Javelin has agreed, subject to certain terms and conditions, to\nprepay to Minera US$5,000,000 in respect of future deliveries of\ncopper concentrate made by Minera to Javelin. The prepaid amount is\nrepayable by Minera on or before December 31, 2026, through the\ndelivery of copper concentrate or in cash. The outstanding balance of\nthe prepaid amount will be subject to an advance payment fee\nchargeable from the date of the advance until the prepaid amount is\nreduced to zero, at a rate equal to the three-month SOFR (subject to\nSOFR floor of 2.00%) plus 7.00% per ...

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