Battery Mineral Resources Corp. Announces Third Closing of Previously Announced Offering of Unsecured Convertible Debentures

About this update from Battery Mineral Resources Corp

[{"type":"text","content":"Battery Mineral Resources Corp. Announces Third Closing of Previously Announced Offering of Unsecured Convertible Debentures\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 it has closed a third, and final, tranche\nof the private placement (the “\n \n Private Placement\n \n ”) of\nsenior unsecured convertible debentures (the “\n \n Debentures\n \n ”),\nwhich was previously announced on October 17, 2023, October 19, 2023,\nNovember 3, 2023, December 19, 2023 and February 2, 2024 (the\n“\n \n Offering\n \n ”).\n \n \n \n \n Gross\nproceeds for the third tranche total US$1,000,000 (C$1,349,300).\nTogether with the first tranche of the Offering, which closed on\nOctober 19, 2023 for gross proceeds of US$1,370,000 (C$1,871,557), and\nthe second tranche of the Offering, which closed on November 3, 2023\nfor gross proceeds of US$1,915,000 (C$2,660,234), the Company raised\nan aggregate of US$4,285,000 (C$5,881,091) under the Offering. Weston\nEnergy II LLC, an existing shareholder of the Company, participated in\nthe third closing in the amount of US$1,000,000 (C$1,349,300).\n \n \n \n \n The proceeds from the\nDebentures will be applied towards working capital and the restart of\ncopper concentrate production at its Punitaqui copper project in Chile\n(the “\n \n Restart\n \n ”).\n \n \n \n \n \n Offering Terms (as previously disclosed)\n \n \n \n As previously announced,\nthe Debentures will mature on September 30, 2026 (the “\n \n Maturity\nDate\n \n ”) and will bear interest at 10% per annum, compounding\nannually on September 30 of each year, not in advance. Interest\naccrued from the date of issuance up to and including March 30, 2025,\nwill be paid by way of issuance of common shares of the Company.\nInterest accrued following March 30, 2025, will be, at the option of\nthe holder, paid either in cash or by way of issuance of common shares\nof the Company. The issuance of common shares as payment of interest\nwill be at the then current market price of the Company’s common\nshares at the date the interest becomes payable and will be subject to\nth...

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