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Battery Mineral Resources Corp. Announces Equipment Refinancing by Ozzie’s, Inc. (100%-Owned Subsidiary), Generating Proceeds of US$2 Million
(NewsDirect) Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) (“ Battery ...
About this update from Battery Mineral Resources Corp
[{"type":"text","content":"Battery Mineral Resources Corp. Announces Equipment Refinancing by Ozzie’s, Inc. (100%-Owned Subsidiary), Generating Proceeds of US$2 Million\n \n \n (NewsDirect)\n \n \n Battery Mineral\nResources Corp. (TSXV: BMR) (OTCQB: BTRMF) (“\n \n Battery\n \n ” or\n“\n \n BMR\n \n ” or the “\n \n Company\n \n ”) is pleased to announce\nthat it has closed an equipment refinancing transaction through its\n100%-owned subsidiary, Ozzie’s, Inc., (“Ozzie’s”) which\noperates in the equipment rental and sales sector, servicing pipeline\nand renewable energy companies (the “\n \n Transaction\n \n ”).\n \n \n The Transaction raised\nproceeds of US$2.0 million via a re-financing of 11 pieces of\nequipment owned by Ozzie’s and is structured as a lease with a\nfour-year term. Subject to certain terms and conditions, Ozzie’s has\nthe option to pay the amount remaining on the lease at any time from\nthe 13\n \n th\n \n month following the lease commencement and prior\nto the end of the lease, thus providing Ozzie’s with additional\nfinancial flexibility. SLR Equipment Finance provided the financing.\nProceeds from the Transaction will be towards additional working\ncapital.\n \n \n Battery\nCEO Martin Kostuik states:\n \n “As our last transaction for 2022, we\nare very pleased to announce the refinancing of certain of Ozzie’s\nequipment with SLR Equipment Finance. The transaction represents a\nnon-dilutive means for BMR to raise capital. We look forward to\nsharing ongoing updates on additional financing initiatives and other\nkey milestones, as we advance towards an early 2023 restart of mine\noperations followed by copper production and positive cash-flow at\nPunitaqui.”\n \n \n \n \n \n \n \n \n About Battery Mineral Resources Corp.\n \n \n \n Battery Mineral\nResources is a battery minerals company providing shareholders\nexposure to the global mega-trend of electrification while being\nfocused on growth through cash-flow, exploration, and acquisitions in\nfavourable mining jurisdictions. Battery Mineral’s mission is the\ndiscovery, acquisition, and development of battery metals (namely\ncobalt, lithium, graphite, and copper), in North America, South\nAmerica and South Korea, to become a premier and ...