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PATRIOT ANNOUNCES CLOSING OF C$69 MILLION STRATEGIC INVESTMENT, OFFTAKE AND STRATEGIC PARTNERSHIP WITH VOLKSWAGEN AND POWERCO
PATRIOT ANNOUNCES CLOSING OF C$69 MILLION STRATEGIC INVESTMENT, OFFTAKE AND STRATEGIC PARTNERSHIP...
About this update from Pmet Resources Inc.
[{"type":"text","content":"\n\n\n\n PATRIOT ANNOUNCES CLOSING OF C$69 MILLION STRATEGIC INVESTMENT, OFFTAKE AND STRATEGIC PARTNERSHIP WITH VOLKSWAGEN AND POWERCO\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; FONT-SIZE: 8PT; FONT-FAMILY: ARIAL; COLOR: BLACK; MARGIN:0em; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Jan. 21, 2025\n \n\n /CNW/\n \n -\n \n January 22, 2025\n \n –\n \n Sydney, Australia\n \n\n\n\n Patriot Battery Metals Inc. (the \"\n \n Company\n \n \"or \"\n \n Patriot\n \n \") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce that it has closed its previously announced private placement for proceeds of\n \n C$69 million\n \n\n 1\n \n or\n \n US$48 million\n \n (the \"\n \n Strategic Investment\n \n \") to Volkswagen Group (\"\n \n Volkswagen\n \n \" or \"\n \n VW\n \n \").\n \n\n Following the closing of the Strategic Investment, Volkswagen now owns approximately 9.9% of Patriot's issued and outstanding Common Shares on a non-diluted basis.\n \n\n The proceeds from the Strategic Investment will be used for exploration, development and completion of a Feasibility Study on the Company's Shaakichiuwaanaan Lithium Project in\n \n Quebec, Canada\n \n , as well as for general and working capital purposes.\n \n\n\n Ken Brinsden\n \n , Patriot's CEO and Managing Director said: \"\n \n We are both pleased and proud to welcome VW as a strategic shareholder. Their investment in Patriot represents a significant step forward for the Company, while working towards the delivery of one of the more important lithium raw materials projects globally.\n \n\n\n\n \"As a high-grade and large-scale resource in\n \n North America\n \n , Shaakichiuwaanaan is well-placed to help meet the substantial demand growth for lithium that is forecast through to the end of this ...