Patriot Battery Metals Completes Claim Transfers and Becomes Official Registered Title Holder to 100% Interest in the Corvette Property
Rhea-AI Summary
Patriot Battery Metals Inc. (CSE: PMET, OTCQB: PMETF) announced it has officially acquired a 100% interest in all 417 claims of the Corvette Property in Quebec, totaling 21,357 ha. This property is strategically located along a 50 km strike length in the La Grande Greenstone Belt, known for lithium, gold, and base metals. Additionally, the company has engaged Red Cloud Financial Services for marketing support, with a monthly fee of $10,000 starting May 16, 2022, for at least six months. CEO Blair Way expressed confidence in the property and the company's secure title holdings.
Positive
- Acquisition of 100% interest in 417 claims of the Corvette Property, enhancing assets.
- Property is located in a promising region for lithium, gold, and base metals.
- Engagement of Red Cloud Financial Services for marketing could boost visibility and investor interest.
Negative
- Potential risks associated with the new marketing arrangement and its effectiveness are unknown.
News Market Reaction – PMETF
In the trading session that priced this news, PMETF declined 7.31%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, British Columbia, May 11, 2022 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTCQB: PMETF) (FSE: R9GA) is pleased to announce that is has received official confirmation from Quebec Ministry of Energy and Natural Resources (the “MERN”’) that all pending claims transfers for the Corvette Property titles have been completed and the Company is now formally the registered title holder (
The Company announced February 15th, 2022, the consolidation of the claim groups that now comprise the Corvette Property through multiple acquisitions as well as direct staking. Collectively, the Corvette Property is now comprised of 417 contiguous claims, totaling 21,357 ha, and covers a more than 50 km strike length of the La Grande Greenstone Belt, which is prospective for lithium pegmatite, gold, and base metals. The registration process took several months to complete; however, is now official with Patriot Battery Metals Inc. recorded by the MERN as the
Company CEO, President and Director, Blair Way, comments: “We are very pleased to have received official documentation of our
Red Cloud Marketing Services Agreement
The Company also announced that it has engaged Red Cloud Financial Services to provide marketing services. Under the engagement, Red Cloud will be paid a fee of
About Patriot Battery Metals Inc.
Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base, and precious metals.
The Company’s flagship asset is the Corvette Property, which includes the wholly owned 213 sq kilometer of claim blocks located in the James Bay Region of Québec. The land package hosts significant lithium potential highlighted by the CV5-6 spodumene pegmatite with drill intercepts of
For further information, please contact us at info@patriotbatterymetals.com Tel: +1 (778) 945-2950, or visit www.patriotbatterymetals.com.
On Behalf of the Board of Directors,
“BLAIR WAY”
Blair Way, CEO, President & Director
Disclaimer for Forward-Looking Information
Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.
