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Battery Mineral Resources Corp. Attains 100% Ownership of ESI - A Pipeline and Renewables Equipment Rental and Sales Company
Vancouver, British Columbia--(Newsfile Corp. - May 26, 2021) -  Battery Mineral Resources...
About this update from Battery Mineral Resources Corp
[{"type":"text","content":"Battery Mineral Resources Corp. Attains 100% Ownership of ESI - A Pipeline and Renewables Equipment Rental and Sales CompanyVancouver, British Columbia--(Newsfile Corp. - May 26, 2021) -  Battery Mineral Resources Corp. (TSXV: BMR) (\"Battery\" or the \"Company\") is pleased to announce that it has completed its acquisition of ESI Energy Services Inc. (\"ESI\") concurrent with the completion of ESI's previously announced going private transaction. The result is that Battery, which owned 89.2% of the ESI common shares before the share consolidation, now owns 100% of the ESI common shares. ESI has applied to the Canadian Securities Exchange to delist its common shares and has applied to applicable Canadian provincial securities regulatory authorities to cease its reporting issuer status.ESI is a pipeline and renewables equipment rental and sales company with principal operations in Leduc, Alberta and Phoenix, Arizona. ESI, together with its operating subsidiaries, ESI Pipeline Services, Inc. and ESI Energy Services (Australia) Pty Ltd., supplies (rents and sells) backfill separation machines, called padding machines, to mainline pipeline contractors, renewables and utility construction contractors, as well as oilfield pipeline and construction contractors. The principal market places for ESI are in oil and gas with an increasing presence in the renewable energy marketplace where their products and service are used to construct wind and solar power generation farms.Commenting on the ESI Acquisition, Martin Kostuik, Chief Executive Officer of the Company, said: \"We are excited to have completed the agreement to add ESI to our portfolio. This transaction represents a unique opportunity to add immediate cash and positive cashflow to Battery. Consideration of offers to sell the business are on the table. While considering options to monetize, the focus for this new segment of Battery will be to initiate strategies intended to increase the value of this business to Battery shareholders. These strategies may include, among others, the sale of non-core assets, improvement of margins by reducing costs such as corporate overhead and investigating opportunities to increase revenue through expanding the product and services offerings. We look forward to continuing to advance our corporate strategy by realizing the value of our current p...