Vancouver, B.C. – Vital Battery Metals Inc. (“Vital” or the “Company”) (CSE: VBAM | OTC: VBAMF | FRA: C0O), is pleased to announce that, further to its news release dated July 25, 2024, the Company has completed the previously announced non-brokered private placement of units of the Company (the “Units”) at a price of $0.115 per Unit for aggregate gross proceeds of $500,000 (the “Offering”).
Each Unit consists of one common share of the Company and one-half of one transferable warrant (each whole, a “Warrant”). Each Warrant entitles the holder to purchase one common share at a price of $0.15 per share until August 22, 2026.
The Offering was completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions. Accordingly, the Units issued in the Offering are not subject to a statutory hold period in accordance with applicable Canadian securities laws. There is an offering document related to the Offering, which can be accessed under the Company’s profile at www.sedarplus.ca and at https://vitalbatterymetals.com.
In connection with the Offering, the Company paid finders fees to an eligible finders (each, a “Finder”) equal to: (i) a cash commission in the amount of $21,593.55, being 6.0% of the aggregate gross proceeds raised from investors introduced by the Finder; and (ii) 187,770 non-transferable share purchase warrants (each, a “Finder’s Warrant”), being 6.0% of the aggregate Units purchased by investors introduced by the Finder. Each Finder’s Warrant entitles the holder thereof to acquire one common share of the Company at a price of $0.15 per share until August 22, 2026.
The net proceeds of the Private Placement are expected to be used towards advancement of the Company’s Sting Property and for general working capital purposes.
The securities issued pursuant to the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws. Accordingly, the securities issued pursuant to the Offering may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Vital Battery Metals Inc.
Vital Battery Metals Inc. (CSE: VBAM |OTC: VBAMF | FRA: C0O) is a mineral exploration company dedicated to the development of strategic projects comprised of battery, base and precious metals in stable jurisdictions. The Company is working to advance its Schofield Lithium, Dickson Lake Lithium, Sting Copper Project, and Vent Copper-Gold Projects.
The Sting Copper Project covers approximately 12,700 hectares and hosts multiple historic Newfoundland and Labrador Government documented mineral occurrences and is located within a 50 km corridor known for significant volcanogenic massive sulfide (VMS), copper quartz vein lode and low sulphation epithermal gold showings. The Vent Copper-Gold project covers 1,562 hectares in British Columbia. Vital continues to evaluate value-add assets to bolster its project portfolio.
The Schofield Lithium Project covers 8,824 hectares and is adjacent to Brunswick Exploration’s Hearst Lithium Project. The Schofield Lithium Project is located ~60 km south of Hearst, Ontario. The Dickson Lake Lithium Project covers 464 single-cell mining claims and approximately 9,780 hectares and is near a Brunswick Exploration Lithium Project, Imagine Lithium’s Jackpot Deposit and Rock Tech’s Georgia Lake Deposit.
For more information, visit www.vitalbatterymetals.com.
On Behalf of the Board of Directors
Adrian Lamoureux
Chief Executive Officer, Director
+1 (604) 229-9772
info@vitalbatterymetals.com
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance are “forward-looking statements”. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.
