Battery X Metals (TSE:BATX) has released an update.
Battery X Metals Inc. is set to convert $629,805 of debt into equity by issuing shares to certain creditors, aiming to improve its financial footing. The transaction includes two separate settlements with common shares priced at $0.10 each, with some shares subject to a holding period and others not. This strategic move, expected to close by June 21, 2024, will also address insider settlements without breaching market capitalization limits, thereby sidestepping the need for minority shareholder approval.
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