Battery X Metals Announces Closing of First Tranche of Private Placement to Advance Corporate Growth

Executive Summary

• Battery X Metals Inc. has closed the first tranche of its previously announced non-brokered private placement, generating $600,000.50 in aggregate gross proceeds.
• The tranche comprises 218,182 units issued at $2.75 per unit, with each unit consisting of one common share and one transferable warrant exercisable at $3.00 per share until June 5, 2028.
• Net proceeds will be allocated to corporate development, regulatory initiatives, debt/payable management, and working capital, with the remaining tranche anticipated to close by June 30, 2026.

Key Details

• Gross proceeds: $600,000.50
• Units issued: 218,182
• Price per unit: $2.75
• Warrant structure: Each unit includes one transferable common share purchase warrant; exercise price of $3.00 per warrant share; exercisable until June 5, 2028.
• Use of proceeds: Advancing business initiatives, corporate development, regulatory matters, payment of outstanding and future payables and indebtedness, corporate awareness initiatives, and general working capital.
• Statutory hold period: Securities subject to hold until October 6, 2026.
• Remaining tranche: Expected to close in one or more additional tranches on or before June 30, 2026, subject to Canadian Securities Exchange policies.
• Finder's fees: $1,443.75 paid to an arm's length party in connection with the closing.