American Battery Metals Corporation Clarifies Information
INCLINE VILLAGE, July 31, 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, today announced that inaccurate information was spread yesterday about the Company. The Company has no intention to initiate a reverse split of its common stock in the near future. The Company would likely need to effectuate a reverse split of its common stock in order to be eligible for its common stock to be listed on a national stock exchange. However, the Company is not currently taking any substantive steps towards such a listing.
American Battery Metals Corp. Chief Executive Officer, Doug Cole, stated, "We continue to make progress in advancing towards commissioning our new battery recycling plant in the first quarter 2021. The Company is in negotiation and anticipates financing the building of this initial recycling facility with a conventional 36-month construction financing of approximately $5.5 million including: the purchase cost of the building site, an initial 30,000 square foot industrial building, and initial battery recycling equipment and utility infrastructure. Once the plant is operational, the Company anticipates that this construction financing will be refinanced with long-term project financing with a traditional lending institution."
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
p775-473-4744
info@batterymetals.com
SOURCE: American Battery Metals Corp.
