Battery Mineral Resources Corp. Announces Closing of First Tranche of LIFE Private Placement Offering and Completion of Debt Settlement

Executive Summary

• Battery Mineral Resources Corp. closed the first tranche of its LIFE private placement, issuing 50 million common shares at $0.20 each for gross proceeds of $10 million.
• Net proceeds will be used to advance processing plant operations and underground development at the Punitaqui Mining Complex in Chile, plus general working capital.
• The company also completed a separate debt‑settlement share issuance of 10,654,752 shares (at $0.20 each) to settle USD 1.56 million of outstanding indebtedness.

Key Details

• Offering Size: 50,000,000 common shares @ $0.20 per share → Gross proceeds: $10,000,000.
• Closing Date: March 16 2026.
• Exemptions Used: Listed Issuer Financing Exemption (NI 45‑106) and U.S. securities law private placement exemptions; shares issued to U.S. investors are restricted securities.
• Commission Paid: $456,690 cash commission to EAS Advisors LLC (via Odeon Capital Group).
• Use of Proceeds:
• Advance processing plant operations at Punitaqui Mining Complex.
• Fund planned underground development at Punitaqui.
• General working capital.
• Related Party Transaction: 3,692,500 shares purchased by related parties; transaction relied on MI 61‑101 exemption (fair market value ≤ 25 % of market cap). No material change report filed prior to closing.
• Debt Settlement Completion: Issued 10,654,752 shares @ $0.20 per share to settle USD 1,556,234 debt; exchange rate applied 1.369 CAD/USD.
• Future Financing: The tranche is separate from the previously announced up‑to‑174,430,850‑share private placement at $0.20/share (announced Jan 7 2026). Completion of that larger placement remains subject to conditions and TSXV approval.
• Regulatory Notices: Shares not registered under U.S. Securities Act; offering not an offer or solicitation in jurisdictions where prohibited.

Notable Quotes

“We are very pleased to close the first tranche of the LIFE offering, which reflects continued support for Battery Mineral Resources and our strategy to advance operations and underground development at Punitaqui,” – Lazaros Nikeas, CEO.