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Battery Mineral Resources Corp. Announces Sale of Leduc, Alberta Real Estate Property by Wholly Owned Subsidiary ESI Energy Services
(NewsDirect) Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ( “Bat...
About this update from Battery Mineral Resources Corp
[{"type":"text","content":"Battery Mineral Resources Corp. Announces Sale of Leduc, Alberta Real Estate Property by Wholly Owned Subsidiary ESI Energy Services\n \n \n (NewsDirect)\n \n \n Battery Mineral Resources Corp. (TSXV:\nBMR) (OTCQB: BTRMF) (\n \n “Battery”\n \n or\n \n “BMR”\n \n or\nthe\n \n “Company”\n \n ) is pleased to announce that it has closed a\nsale transaction on an industrial real estate property located at 7506\n43rd Street Leduc, Alberta (the\n \n “Property”\n \n ), previously\nheld by BMR’s 100%-owned ESI Energy Services, Inc., which operates\nin the equipment rental and sales sector, servicing pipeline and\nrenewable energy companies (the\n \n “Transaction”\n \n ).\n \n \n The Transaction raised net proceeds of\napproximately C$2.0 million, after the repayment of all indebtedness\non the Property and the payment of transaction costs. Proceeds from\nthe Transaction will be applied towards advancing the Punitaqui copper\nmine towards a re-start and initial production, and for additional\nworking capital.\n \n \n The Company’s\nPunitaqui Mining Complex, a past producing copper-gold mine located in\nthe Coquimbo region of Chile. The Company is currently negotiating\nwith interested parties to supply the balance of the re-start capital\nvia additional non-dilutive avenues.\n \n \n Battery CEO Martin Kostuik states: “We are very pleased to\nannounce the closing of the sale for the non-core Leduc, Alberta real\nestate property. Through the process of optimizing ESI’s business\nmodel, we found that operating the shop in Leduc was not accretive to\nthe business. ESI was no longer using it and a sale process was\ninitiated. The transaction represents a creative, non-dilutive means\nfor BMR to raise capital, which we will apply in the near-term towards\npreparing for the re-start of operations at Punitaqui. We look forward\nto sharing ongoing updates on additional financing initiatives and\nother key milestones, as we advance towards restarting mine operations\nfollowed by copper production and positive cash-flow at\nPunitaqui.”\n \n \n \n About Battery\nMineral Resources Corp.\n \n \n \n Battery\nMineral Resources is a battery minerals company providing shareholders\nexposure to the global mega-trend of electrification while being\nfocuse...