Receives Initial Investment from Unifinance Ltd. / VCM Towards the $10 Million Commitment of Series B Preferred Stock at a Fixed Price of $0.25
Entire Proceeds to be used for the Construction of the Company's Lithium-ion Battery Metals Recycling Plant in NevadaINCLINE VILLAGE, June 2, 2020 - American Battery Metals Corporation (OTCQB:ABML) (the "Company"), an American-owned advanced extraction and battery recycling technology company with extensive mineral resources in Nevada, is pleased to announce that it has received an initial investment towards its previously disclosed (on February 19, 2020) $10 million strategic investment infusion from Unifinance Limited. The entire $10 million investment, in the form of a purchase of the Company's Series B preferred stock which is convertible into common stock of the Company at a fixed price of $0.25 per share, remains committed and will be provided as needed for the construction of the Company's battery metals recycling plans.
The significant strategic capital investment is from Newood Finance Solutions Limited, a Fiji corporation doing business as Unifinance Limited ("Unifinance), and an affiliate of VCM Group Pty Limited ("VCM"), the Company's EPC (Engineering, Procurement, and Construction) partner.
VCM Director, Michael Vogel, commented, "We are as excited as ever about our partnership with American Battery Metals Corp. and to be involved in the development of the Company's lithium-ion battery recycling facility. Our team is in continual daily contact and looking forward to working closely with our counterparts at American Battery Metals Corp. with a target date of late-2020 when we expect the battery recycling plant to be fully operational in addressing the global e-waste challenge, while reintroducing critically needed materials back into the supply chain for the electric vehicle and energy storage sectors."
Doug Cole, the Chief Executive Officer of American Battery Metals Corporation, stated, "We are pleased to have received this initial investment towards the $10 million strategic investment commitment from Unifinance, an affiliate of VCM Group Pty Limited ("VCM"), our EPC partner. This initial funding coupled with capital raised from our private offering enables us to continue to push forward with our development of lithium-ion battery metals recycling plant in Nevada. Additionally, we continue to pay off and retire all convertible debt prior to maturity and conversion into equity. We have the cash needed to make all pay offs in the future to avoid any further equity dilution from convertible debt. This strategic investment and working closely with VCM enables us to take a major step toward our pursuit within our main areas of focus; lithium-ion battery recycling and its advanced extraction technology. We have assembled a talented team with vast experience in battery metals, state of the art recycling technology, extraction, and resource permitting. The VCM sourced funding provides important resources to realize American Battery Metals Corp.'s vision of becoming the world's first fully integrated battery metals supply chain provider."
American Battery Metals Corp. (www.batterymetals.com) (OTCQB:ABML) is an American-owned, advanced extraction and battery recycling technology company with extensive mineral resources in Nevada. The company is focused on its lithium-ion battery recycling and resource production projects in Nevada, with the goal of becoming a substantial domestic supplier of battery metals to the rapidly growing electric vehicle and battery storage markets.
For more information, please visit:www.batterymetals.com
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the expected project economics for Western Nevada Basin (Railroad Valley), including estimates of life of mine, average production, cash costs, AISC, initial CAPEX, sustaining CAPEX, pre-tax IRR, pre-tax NPV, net cash flows and recovery rates, the impact of self-mining versus contract mining, the timing to obtain necessary permits, the submission of the project for final investment approval and the timing of initial gold production after investment approval and full financing, metallurgy and processing expectations, the mineral resource estimate, expectations regarding the ability to expand the mineral resource through future drilling, ongoing work to be conducted at the Western Nevada Basin (Railroad Valley), and the potential results of such efforts, the potential commissioning of a Pre-Feasibility study and the effects on timing of the project, are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended September 30, 2019. The Company assumes no obligation to update any of the information contained or referenced in this press release.
Contact Information
American Battery Metals Corp.
P:775-473-4744
info@batterymetals.com
ClearThink
nyc@clearthink.capital
