Battery X Metals Announces Repricing of Warrants

Rhea-AI Summary

Battery X Metals has announced the repricing of 3,554,993 common share purchase warrants to a revised exercise price of $0.25 per warrant, effective immediately. This follows the company's 3.3:1 share consolidation from December 10, 2024. The repriced warrants include:

• 1,294,392 warrants expiring January 24, 2026 (original price $0.66)
• 355,151 warrants expiring February 9, 2026 (original price $0.66)
• 1,496,360 warrants expiring July 29, 2026 (original price $0.33)
• 409,090 warrants expiring September 3, 2026 (original price $0.33)

Per CSE policies, if the company's share price exceeds the new exercise price by 25% for ten consecutive trading days, the warrant terms must be amended to 30 days.

Positive

• Reduced warrant exercise price from $0.66/$0.33 to $0.25, potentially increasing likelihood of warrant exercise and capital raising

Negative

• Warrant repricing represents a significant reduction in potential capital raised if warrants are exercised
• Potential dilution risk if all 3.55 million warrants are exercised at the lower price

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / January 7, 2025 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXD)(FSE:R0W, WKN:A3EMJB)("Battery X Metals" or the "Company") announces the repricing of an aggregate of 3,554,993 common share purchase warrants (the "Repriced Warrants") to a revised exercise price of $0.25 per Repriced Warrant, effective immediately (the "Warrant Repricing"). Under the policies of the Canadian Securities Exchange (the "CSE"), the Warrant Repricing is subject to the unanimous consent of the registered holders of the outstanding Repriced Warrants.

Following the Company's 3.3:1 share consolidation effective December 10, 2024 (the "Consolidation"), of the 3,554,993 Repriced Warrants:

• 1,294,392 had an original exercise price of $0.66 ($0.20 pre-Consolidation) and an expiry date of January 24, 2026;

• 355,151 had an original exercise price of $0.66 ($0.20 pre-Consolidation) and an expiry date of February 9, 2026;

• 1,496,360 had an original exercise price of $0.33 ($0.10 pre-Consolidation) and an expiry date of July 29, 2026; and

• 409,090 had an original exercise price of $0.33 ($0.10 pre-Consolidation) and an expiry date of September 3, 2026.

As the Warrant Repricing will result in an exercise price lower than the market price of the Company's common shares on the date the warrants were issued, CSE policies require that, if following the Warrant Repricing, for any ten consecutive trading days the closing price of the Company's common shares on the CSE exceeds the amended exercise price by 25%, the term of the Repriced Warrants must be amended to 30 days. The amended expiry date will be announced by the Company by press release and the 30-day period will commence seven days from the end of the ten consecutive trading day period referred to above.

About Battery X Metals Inc.

Battery X Metals (CSE:BATX) (OTCQB:BATXD) (FSE:R0W, WKN:A3EMJB) is committed to advancing the global clean energy transition through the development of proprietary technologies and domestic battery and critical metal resource exploration. The Company focuses on extending the lifespan of electric vehicle (EV) batteries, through its portfolio company, LIBRT¹, recovering battery grade metals from end-of-life lithium-ion batteries, and the acquisition and exploration of battery and critical metals resources. For more information, visit batteryxmetals.com.

¹49% owned Portfolio Company

On Behalf of the Board of Directors

Massimo Bellini Bressi, Director

For further information, please contact:

Massimo Bellini Bressi

Chief Executive Officer

Email: mbellini@batteryxmetals.com

Tel: (604) 741-0444

Disclaimer for Forward-Looking Information

This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this release include, but are not limited to, statements regarding the Company's objectives, business strategies, and future plans, including completion of the Warrant Repricing and compliance with securities laws. These forward-looking statements are based on management's current expectations and assumptions, which are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. Risks include, but are not limited to, changes in market conditions, regulatory risks, the inability to achieve regulatory compliance or approvals, reliance on key personnel, that the holders of the Repriced Warrants may not consent to the Warrant Repricing and the risk factors set forth in the Company's filings on SEDAR+. Forward-looking statements are made as of the date of this release, and Battery X Metals disclaims any obligation to update or revise them to reflect new events or circumstances, except as required by law. Investors are cautioned not to place undue reliance on these forward-looking statements.

SOURCE: Battery X Metals

View the original press release on accesswire.com

FAQ

What is the new exercise price for BATXD's repriced warrants?

The new exercise price for BATXD's repriced warrants is $0.25 per warrant, down from previous prices of $0.66 and $0.33.

How many warrants are affected by BATXD's repricing announcement?

A total of 3,554,993 common share purchase warrants are affected by the repricing announcement.

When do BATXD's repriced warrants expire?

The repriced warrants have various expiry dates: January 24, 2026, February 9, 2026, July 29, 2026, and September 3, 2026.

What happens to BATXD's warrant terms if the stock price exceeds the exercise price by 25%?

If BATXD's stock price exceeds the $0.25 exercise price by 25% for ten consecutive trading days, the warrant terms must be amended to 30 days.