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Battery Mineral Resources ( (TSE:BMR) ) has provided an announcement.
Battery Mineral Resources Corp. has launched a non-brokered private placement under the Listed Issuer Financing Exemption to raise up to $15 million through the sale of common shares at $0.20 each. The shares will be offered across most Canadian provinces, as well as in the U.S. and certain international jurisdictions via private placement, and are expected to be freely tradeable in Canada under the exemption.
The company plans to use the net proceeds to advance processing plant operations and underground development at its Punitaqui Mining Complex in Chile and for general working capital. Battery Mineral Resources also confirmed the completion of a prior LIFE offering totaling $10 million and said it will not proceed with a previously proposed larger private placement, signaling a refined capital-raising strategy focused on funding Punitaqui’s development.
More about Battery Mineral Resources
Battery Mineral Resources Corp. is a mining company that operates the Punitaqui Mining Complex, a historic copper, gold and silver producer in Chile’s Coquimbo region. The company also owns ESI Energy Services Inc. and North American mineral exploration assets, aiming to give investors leveraged exposure to copper and the electrification trend through cash flow generation, exploration and acquisitions in mining-friendly jurisdictions.
Average Trading Volume: 50,673
Technical Sentiment Signal: Buy
Current Market Cap: C$17.22M
For detailed information about BMR stock, go to TipRanks’ Stock Analysis page.