Vital Battery Metals Announces Private Placement

Vital Battery Metals Announces Private Placement

Benzinga
April 2, 2025

VANCOUVER, British Columbia, April 02, 2025 (GLOBE NEWSWIRE) -- Vital Battery Metals Inc. ("Vital" or the "Company") (CSE: VBAM | OTC: VBAMF | FRA: C0O), announces that it proposes to undertake a non-brokered private placement financing of up to 16,666,667 units (each, a "Unit") of the Company at a purchase price of $0.065 per Unit, to raise total gross proceeds of up to $1,083,333 (the "Placement").

Each Unit will consist of one common share of the Company (each, a "Share") and one transferrable common share purchase warrant (each a "Warrant"). Each Warrant shall be exercisable into one additional common share for a period of 2 years from the closing date at an exercise price of $0.10. The Warrants contain an accelerated expiry clause (the "Acceleration Clause"). Pursuant to the Acceleration Clause, if the Shares of the Company close at or above $0.20 for ten (10) consecutive trading days on the Canadian Securities Exchange ("CSE"), then the Company may accelerate the expiry date of the Warrants by issuing a news release announcing the accelerated Warrant term, pursuant to which the Warrants will expire on the 30th calendar day after the date of such news release.

The Company will use the proceeds from the Placement towards exploration on the Company's property and for general working capital purposes.

The Units will be offered to qualified investors in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation. The Company may pay finders' fees to eligible finders ...

https://www.benzinga.com/pressreleases/25/04/g44619040/vital-battery-metals-announces-private-placement

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