Battery X Metals Announces Annual General Meeting Results, Corporate Awareness Agreement, and Initiative to Strengthen Financial Position

Rhea-AI Summary

Battery X Metals (OTCQB:BATXF) held its Annual General and Special Meeting on July 16, 2025, with shareholders approving all proposed items. The meeting saw 26.73% participation of outstanding shares, with shareholders approving the election of five directors, appointment of auditors, an Omnibus Equity Incentive Plan, and a potential share consolidation of up to 25:1.

The company engaged Apollo Shareholder Relations for a four-month investor communications contract worth CAD $35,000. Additionally, Battery X announced plans to settle $550,000 in debt through the issuance of units and shares at $0.24 per unit, including warrants exercisable at $0.315 for two years.

Positive

• Share consolidation approval (up to 25:1) received strong shareholder support with 99.43% votes in favor
• Strategic debt settlement of $550,000 through equity issuance to improve balance sheet
• New investor relations initiative to enhance market visibility and shareholder communications

Negative

• Potential dilution from debt settlement through issuance of 2,291,666 new shares and warrants
• Low shareholder participation rate of 26.73% at the Annual General Meeting
• Additional cash expenditure of CAD $35,000 for investor relations services

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

VANCOUVER, BC / ACCESS Newswire / July 18, 2025 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:5YW, WKN:A40X9W)("Battery X Metals" or the "Company") an energy transition resource exploration and technology company, announces the voting results from its Annual General and Special Meeting ("AGSM") held on July 16, 2025 in Vancouver, British Columbia.

Shareholders voted in favour of all items of business presented at the AGSM, as outlined in the proxy-related materials, including the Notice of Meeting and the Information Circular dated June 11, 2025 (the "Information Circular"). These items included the election of directors, the appointment of the Company's auditor, the approval of the Omnibus Equity Incentive Plan, and the proposed share consolidation.

A total of 15,447,811 common shares were represented at the meeting, representing 26.73% of the Company's issued and outstanding common shares as of the record date of the meeting (57,791,550).

Results of Voting

Resolution	Votes For	% For	Votes Withheld / Against	% Withheld / Against
1. Set number of directors at five (5)	15,362,620	99.45%	85,191	0.55%
2. Election of Directors
Massimo Bellini Bressi	15,317,041	99.15%	130,770	0.85%
Howard Blank	15,419,988	99.82%	27,823	0.18%
Martino Ciambrelli	15,417,837	99.81%	29,974	0.19%
Dallas Pretty	15,259,673	98.78%	188,138	1.22%
John Campbell	15,419,988	99.82%	27,823	0.18%
3. Appointment of Manning Elliott LLP as auditor	15,440,589	99.95%	7,222	0.05%
4. Approval of Omnibus Equity Incentive Plan	15,237,463	98.64%	210,348	1.36%
5. Approval of Share Consolidation (up to 25:1)	15,359,469	99.43%	88,342	0.57%

Following the AGSM, Mr. Dallas Pretty and Mr. John Campbell were elected as Directors of the Company. The Company also reappointed its current officers and confirmed the composition of its Audit and Governance Committees.

For more information on the resolutions and full meeting materials, shareholders are encouraged to refer to the Information Circular available at the Company's profile on SEDAR+.

Corporate Awareness Agreement
The Company also announces that, effective July 17, 2025, it has entered into a service agreement (the "Agreement") with Apollo Shareholder Relations Ltd. ("Apollo") to provide investor communications and marketing services for a period of four (4) months, commencing on or about August 1, 2025.

Apollo is arm's length to the Company. Pursuant to the terms of the Agreement, Apollo will be responsible for delivering a comprehensive suite of services, including investor relations strategy, content creation, digital campaigns, social and community engagement, public relations, SEO and analytics, technology integration, compliance and governance, and training and support. The objective of the engagement is to enhance the Company's investor awareness and public profile within the Canadian and global capital markets.

The Company has agreed to pay Apollo a total fee of CAD $35,000 (plus applicable taxes) for the four-month term, payable as follows: CAD $17,000 upon execution of the agreement and CAD $6,000 on the first day of each of the second, third, and fourth months of the term. No stock options are being granted to Apollo under the terms of the engagement. To the knowledge of the Company, at the time of entering into the agreement, Apollo and its principals, directly and indirectly hold 74,038 common shares of the Company. Contact: Jazz Chodak, Chief Revenue Officer, Apollo Shareholder Relations Ltd., 1395 Bear Mountain Parkway, Victoria, BC V9B 0E1, jazz@apollorelations.com.

Proposed Debt Settlement
The Company also announces that it intends to settle outstanding indebtedness in an aggregate amount of up to $550,000 (the "Debt Settlement") owing to certain creditors of the Company. The Debt Settlement is anticipated to be satisfied through the following issuances:

• Up to $453,264.32 in consideration for the issuance of an aggregate of 1,888,601 units of the Company (each, a "Debt Settlement Unit") at a deemed price of $0.24 per Debt Settlement Unit. Each Debt Settlement Unit will consist of one common share of the Company (each, a "Debt Share") and one transferable common share purchase warrant (each, a "Debt Settlement Warrant"). Each Debt Settlement Warrant will be exercisable to acquire one additional common share of the Company (each, a "Debt Settlement Warrant Share") at an exercise price of $0.315 per Debt Settlement Warrant Share for a period of two (2) years from the date of closing of the Debt Settlement.

• Up to $96,735.62 in consideration for the issuance of an aggregate of 403,065 Debt Shares at a deemed price of $0.24 per Debt Share.

The securities issued under the Debt Settlement will be subject to a statutory hold period expiring four months and one day from the date of issuance. Closing of the Debt Settlement is expected to occur on or around July 28, 2025.

Insiders may participate in the Debt Settlement and such participation may constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI61-101"). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under subsections 5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in the Debt Settlement by insiders will not exceed 25% of the fair market value of the Company's market capitalization.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.

About Battery X Metals Inc.
Battery X Metals (CSE:BATX)(OTCQB:BATXF)(FSE:5YW, WKN:A40X9W) is an energy transition resource exploration and technology company committed to advancing domestic and critical battery metal resource exploration and developing next-generation proprietary technologies. Taking a diversified, 360° approach to the battery metals industry, the Company focuses on exploration, lifespan extension, and recycling of lithium-ion batteries and battery materials. For more information, visit batteryxmetals.com.

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 statements regarding the Company's engagement of Apollo Shareholder Relations Ltd. and the results of such engagement, the proposed Debt Settlement, the terms of the Debt Settlement, and the expected closing date of the Debt Settlement. Forward-looking statements reflect management's current beliefs, expectations, and assumptions based on available information as of the date of this release. However, these statements are subject to known and unknown risks, uncertainties, and other factors that could cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks include, but are not limited to, the risk that the engagement with Apollo Shareholder Relations Ltd. is terminated prior to the completion of the contemplated services, that the Company may not complete the proposed Debt Settlement as expected or at all, and general economic, market, and regulatory conditions. Additional risks and uncertainties are discussed in the Company's filings on SEDAR+. The forward-looking statements in this news release are made as of the date hereof, and Battery X Metals disclaims any intention or obligation to update or revise such statements, 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 ACCESS Newswire

FAQ

What was the outcome of Battery X Metals (BATXF) Annual General Meeting 2025?

Shareholders approved all items including the election of five directors, appointment of auditors, Omnibus Equity Incentive Plan, and a potential 25:1 share consolidation, with over 99% approval for most resolutions.

How is Battery X Metals (BATXF) planning to settle its outstanding debt in 2025?

The company plans to settle $550,000 in debt by issuing units at $0.24 each, comprising shares and warrants exercisable at $0.315 for two years, with completion expected around July 28, 2025.

What is the new investor relations agreement announced by Battery X Metals?

Battery X Metals engaged Apollo Shareholder Relations for a 4-month contract worth CAD $35,000 starting August 1, 2025, to provide comprehensive investor communications and marketing services.

What is the proposed share consolidation ratio for Battery X Metals (BATXF)?

Shareholders approved a share consolidation of up to 25:1 with 99.43% of votes in favor.

How many shares were represented at Battery X Metals' 2025 Annual Meeting?

15,447,811 common shares were represented, constituting 26.73% of the company's total 57,791,550 issued and outstanding shares.