VANCOUVER, BC / ACCESS Newswire / June 5, 2026 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:5YW0, WKN:A41RJF) ("Battery X Metals" or the "Company") an energy transition resource exploration and technology company, announces that, further to its news release dated May 22, 2026, the Company has closed the first tranche (the "First Tranche") of its previously announced non-brokered private placement (the "Private Placement"), through the issuance of 218,182 units of the Company (each, a "Unit") at a price of $2.75 per Unit, for aggregate gross proceeds of $600,000.50. Each Unit consists of one common share in the capital of the Company (each, a "Share") and one transferable common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to acquire one additional Share (each, a "Warrant Share") at an exercise price of $3.00 per Warrant Share, exercisable until June 5, 2028.
The net proceeds of the Private Placement are intended to be allocated toward advancing the Company's business initiatives, including expenses related to corporate development and regulatory matters in connection with strategic capital markets initiatives, the payment of outstanding and future payables and indebtedness, corporate awareness initiatives, and general working capital purposes. These proceeds are expected to support the Company's integrated 360° strategy across the battery metals value chain, encompassing exploration, rebalancing, and recycling, and the continued advancement of next-generation solutions that contribute to the global clean energy transition. The securities issued under the Private Placement will be subject to a statutory hold period expiring October 6, 2026.
The remaining portion of the Private Placement is expected to close, in whole or in part, in one or more additional tranches on or before June 30, 2026, subject to compliance with the policies of the Canadian Securities Exchange.
In connection with the closing of the First Tranche, the Company paid aggregate cash finder's fees of $1,443.75 to an arm's length party.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.
About Battery X Metals Inc.
Battery X Metals (CSE:BATX)(OTCQB:BATXF)(FSE:5YW0, WKN: A41RJF) is an energy transition resource exploration and technology company committed to advancing domestic battery and critical metal resource exploration and developing next-generation proprietary technologies. Taking a diversified, 360° approach to the battery metals industry, the Company focuses on exploration, lifespan extension, and recycling of lithium-ion batteries and battery materials. For more information, visit batteryxmetals.com.
On Behalf of the Board of Directors
Massimo Bellini Bressi, Director
For further information, please contact:
Massimo Bellini Bressi
Chief Executive Officer
Email: mbellini@batteryxmetals.com
Tel: (604) 694-9823
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this release include, but are not limited to, statements relating to: the completion of the remaining tranche(s) of the Private Placement, including the anticipated timing, aggregate gross proceeds, and terms thereof; the intended use of proceeds; the completion, terms; the receipt of all necessary regulatory and exchange approvals, including approval of the Canadian Securities Exchange; and the Company's business strategy, growth initiatives, and capital management objectives. Forward-looking information is based on management's current expectations, estimates, assumptions, and projections as of the date of this news release. Such information is subject to a number of known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, without limitation: the risk that the remaining tranche(s) of the Private Placement may not be completed on the terms described herein or at all; the risk that required regulatory or exchange approvals may not be obtained in a timely manner or at all; changes in market conditions and capital markets; the Company's ability to utilize the proceeds as intended; the Company's ability to execute its business strategy; changes in capital requirements; and general economic, financial, and geopolitical conditions. Forward-looking information is not a guarantee of future performance and reflects management's expectations only as of the date hereof. There can be no assurance that the transactions described herein will be completed as proposed, or at all, or that the Company will achieve its anticipated financial or strategic objectives. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise. Readers are cautioned not to place undue reliance on forward-looking information and are encouraged to review the Company's continuous disclosure filings available under its profile on SEDAR+ for additional risk factors and further information.
SOURCE: Battery X Metals
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/battery-x-metals-announces-closing-of-first-tranche-of-private-placement-to-advan-1173780
