- Battery Mineral Resources Corp. (BMR) has closed the third tranche of its previously announced, upsized non-brokered private placement for gross proceeds of $3,865,900
- Together with the first and second tranches of the offering, Battery Mineral Resources has raised an aggregate of $7,814,860
- Proceeds will be used to fund an extension of the 2021 exploration drilling program at the recently acquired Punitaqui copper project and to re-commence operations at Punitaqui
- Battery Mineral Resources is engaged in the discovery, acquisition and development of battery metals in North and South America as well as South Korea
- Battery Mineral Resources (BMR) opened trading at C$0.345 per share
Battery Mineral Resources Corp. (BMR) has closed the third tranche of its non-brokered private placement for gross proceeds of $3,865,900.
Together with the first and second tranches of the offering, Battery Mineral Resources has raised an aggregate of $7,814,860.
Proceeds from the initial $5M offering will be used to fund an extension of the successful 2021 phase 1 exploration drilling program at the recently acquired Punitaqui copper project in Chile and for general working capital purposes. Proceeds from the additional C$5 million generated from the upsizing of the debentures will be used to re-commence operations at Punitaqui. The company is currently exploring interest from parties to supply the balance of the cost, estimated at C$20 million, via additional and non-dilutive avenues.
Battery CEO Martin Kostuik on the offering and the Punitaqui project.
“BMR is charging ahead towards copper production in a very robust copper market. This round of financing is a great show of confidence in our path forward and provides the means to reach our next milestone. We are a battery metal and electrification-focused company, and remain excited about this sector of the global economy with copper reaching new highs and the widening gap between demand and supply continues. We look forward to updating the market and shareholders on further advancement of the Punitaqui mine we progress towards a potential near-term resumption of operations and cashflow at Punitaqui.”
Battery Mineral Resources is engaged in the discovery, acquisition and development of battery metals in North and South America as well as South Korea.
Battery Mineral Resources (BMR) opened trading at C$0.345 per share.
