Battery Mineral to issue 10.65 million debt shares

Executive Summary

• Battery Mineral Resources Corp. has agreed to settle $1,556,234 USD in outstanding debt by issuing 10,654,752 common shares at a price of $0.20 per share.
• This transaction involves obligations to arm's-length creditors under unsecured convertible debentures originally issued between October 2023 and October 2024.
• Upon completion, approximately 99% of the total outstanding debt under all debentures from the original offering will have been converted, with the company aiming to preserve cash resources for operations.

Key Details

• Settlement Amount: $1,556,234 USD.
• Shares Issued: 10,654,752 common shares.
• Price Per Share: $0.20 USD.
• Debt Instrument: Unsecured convertible debentures issued pursuant to a private placement between October 2023 and October 2024.
• Counterparties: Certain arm's-length creditors.
• Previous Context: The company previously settled ~$23 million USD of debt from the same original offering via the issuance of 159,153,035 common shares on Dec. 10, 2025.
• Total Conversion Status: Following this settlement, ~99% of the total outstanding debt under all debentures from the original offering will be converted.
• Strategic Rationale: Preservation of cash resources for continuing operations and strategic initiatives.
• Regulatory Conditions: Subject to necessary regulatory approvals, including acceptance by the TSX Venture Exchange.
• Restrictions: Securities are subject to a four-month hold period from the date of issuance under Canadian securities laws.

Notable Quotes

• "The company's board of directors and management believe that completing the debt settlement is in the best interests of the company as it will allow the company to preserve its cash resources for continuing operations and strategic initiatives."