Quantum Battery reduces LIFE offering to $507,500

Executive Summary

• Quantum Battery Metals Corp. has halted its previously announced LIFE financing due to its inclusion on the B.C. Securities Commission's default issuer list.
• The company reduced the maximum offering size to 1.75 million units at 29 cents per unit, resulting in maximum gross proceeds of up to $507,500, following a compliance review.
• The company clarified that the LIFE offering document has now been properly filed and is available on SEDAR+, correcting a previous misstatement regarding its upload status.

Key Details

• Financing Halt: The LIFE financing is suspended until further notice due to the company being on the B.C. Securities Commission's default issuer list.
• Resumption Conditions: The company intends to resume the financing once outstanding continuous disclosure items have been resolved and filed.
• Offering Reduction: The maximum offering was reduced to 1.75 million units.
• Price and Proceeds: The price is 29 cents per offered unit, with maximum gross proceeds of up to $507,500.
• Regulatory Compliance: The reduction in offering size was made to ensure compliance with paragraph 5A.2(e) of National Instrument 45-106 (Prospectus Exemptions).
• Document Status: The company confirmed that the LIFE offering document has been filed and is available under the company's profile on SEDAR+, correcting a prior announcement that it had been filed but not uploaded.

Notable Quotes

• "Following further review to ensure compliance with paragraph 5A.2(e) of National Instrument 45-106 (Prospectus Exemptions), the company has reduced the maximum offering to 1.75 million units of the company at a price of 29 cents per offered unit for maximum gross proceeds of up to $507,500."
• "As a result, the company will halt the LIFE financing until further notice. The company intends to resume the financing once the outstanding continuous disclosure items have been resolved and filed."