Battery Mineral Resources Corp. announced that it expects to receive CAD 0.54112 million in funding from Weston Energy II, LLC and other investors
Battery Mineral Resources Corp. announced a private placement of unsecured convertible debentures for the gross proceeds of CAD 541,120 on March 11, 2024. The debentures will mature on September 30, 2026, and will bear interest at 10% per annum. The debentures will be converted into common shares of the company at the conversion price of CAD 0,30 per share. The transaction will be closed in two or more tranches. The transaction will include participation from Weston Energy II, LLC, and an existing shareholder of the company. The transaction is subjected to TSX Venture Exchange and applicable securities laws.
On the same day, the company issued debentures for the gross proceeds of CAD 405,840 in its first tranche closing.