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Patriot Battery Metals Lodges ASX Prospectus
VANCOUVER, British Columbia, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX-V: PMET) (OTCQB: PMETF) (FSE: R9GA)
About this update from Pmet Resources Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX-V: PMET) (OTCQB: PMETF) (FSE: R9GA) is pleased to provide an update in relation to the Company’s planned ASX listing. The Company has lodged a prospectus today in Australia (November 9, 2022) to raise AUD $4.2m (the “Offering”) to support an application to list on the ASX. The Offering is scheduled to formally open on November 16, 2023 and is expected to close on November 21, 2022. The Offering will comprise the issuance of 7,000,000 Australian CHESS Depositary Interests (“CDI”) at a price per CDI of A$0.60, with each CDI eligible for conversion to common shares on a 10:1 basis, resulting in an issue price per underlying common share of A$6.00. The Joint Lead Managers and Bookrunners have received firm commitments from eligible investors for the full amount of the Offering and have advised the Company that they believe the ASX spread requirements will be satisfied. As a result, the Offering will not be open to the general public. The company expects to provide a further update on the ASX listing progress in late November Due to conflicts with the ASX listing, the Board of Directors have elected to defer the AGM scheduled for November 21, 2022 to February 14, 2023. New mail outs will be sent for the AGM. About Patriot Battery Metals Inc. Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base, and precious metals. The Company’s flagship asset is the 100% owned Corvette Property, located proximal to the Trans-Taiga Road and powerline infrastructural corridor in the James Bay Region of Québec. The land package hosts significant lithium potential highlighted by the 2.2 km long CV5 spodumene pegmatite with drill intercepts of 1.65% Li2O and 193 ppm Ta2O5 over 159.7 m (CV22-042), and 2.22% Li2O and 147 ppm Ta2O5 over 70.1 m, including 3.01% Li2O and 160 ppm Ta2O5 over 40.7 m (CV22-017). Additionally, the Property hosts the Golden Gap Trend with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, and the Maven Trend with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop. The Company also holds 100% ownership of the Freeman Creek Gold Property in Idaho, USA which hosts two prospective...