Business
Battery X Metals Closes Acquisition of All Remaining Shares of Lithium-Ion Battery Diagnostics and Rebalancing Technology Company
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / March 31, 2025 /Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:R0W, WKN:A3EMJB)("Battery X Metals" or the "Company") ...
About this update from Battery X Metals Inc.
[{"type":"text","content":"NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES","length":97,"tagName":"p"},{"type":"text","content":"VANCOUVER, BC / ACCESS Newswire / March 31, 2025 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:R0W, WKN:A3EMJB)("Battery X Metals" or the "Company") an energy transition resource exploration and technology company, announces that, further to the Company's news release dated March 20, 2025, it has completed, effective March 28, 2025, the acquisition of the remaining 51% of the common shares of Li-ion Battery Renewable Technologies Inc. ("LIBRT") pursuant to the exercise of its Call Right, as defined therein, from the LIBRT shareholders in consideration for 3,030,296 common shares (the "Shares") of the Company (the "Acquisition"). No finder's fees are payable in connection with the Acquisition.","length":765,"tagName":"p"},{"type":"text","content":"Since acquiring its initial 49% interest in 2024, as disclosed in the Company's news releases dated September 27, 2024, and October 2, 2024, LIBRT has reached key milestones in technology development, strengthened its partnership with Beijing Pengneng Science & Technology Ltd. through a Second Amended Agreement, and significantly progressed the design, development, and production of its Diagnostic and Rebalancing Machine Prototype 2.0, scheduled for delivery in April 2025. LIBRT has also retained a leading patent law firm to file provisional patents for its proprietary lithium-ion battery diagnostic and rebalancing technology.","length":642,"tagName":"p"},{"type":"text","content":"In light of these milestones, Battery X Metals determined that consolidating full ownership of LIBRT would support its long-term strategic vision, as outlined in the Company's roadmap shared in its February 24, 2025 news release.","length":233,"tagName":"p"},{"type":"text","content":"This Acquisition aligns with the Company's commitment to developing a vertically integrated and sustainable battery supply chain through its three core verticals: critical battery metal exploration, proprietary material recovery technologies, and battery diagnostics and rebalancing solutions. Battery X Metals plans to advance its exploration portfolio with the goal of discovering new sources of key mine...