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Battery X Metals Announces Share Consolidation | Region
Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:R0W, WKN:A3EMJB), a company engaged in advancing technologies for the clean energy transition, has announced its plan to consolidate its common shares at a ratio of 3.3:1. This move is set to take effect, with the new consolidated shares beginning to trade on the Canadian Securities Exchange (CSE) starting December 10, 2024.
Overview of the Share Consolidation
The company’s board of directors has approved the proposed share consolidation, which will convert every three and one-third pre-consolidation shares into one post-consolidation share. Presently, Battery X Metals has approximately 70.9 million common shares outstanding, which will decrease to roughly 21.5 million shares post-consolidation. It’s important to note that no fractional shares will be issued, and any that arise will be rounded down to the nearest whole number without any cash compensation.
Strategic Intent Behind the Consolidation
Battery X Metals believes that this consolidation will enhance the company’s marketability, allowing it to attract a wider range of investors and facilitating future fundraising opportunities for operational and expansion initiatives. By reducing the number of shares, the company aims to present a more appealing investment proposition, potentially increasing investor confidence and interest.
Implications for Investors
The consolidation process will also result in a new CUSIP and ISIN number for the shares, which will be shared in a future announcement. Investors may also notice a bulletin issued by the CSE regarding the consolidation and its effective trading date.
About Battery X Metals
Battery X Metals focuses on critical metal resource exploration and the development of sustainable technologies. Through its subsidiary, LIBRT1, the company investigates ways to extend the lifespan of electric vehicle batteries and recover battery-grade metals from spent lithium-ion batteries. By investing in these areas, Battery X Metals positions itself within the growing clean energy sector, where demand for battery and critical metals is on the rise.
Conclusion
As the clean energy landscape evolves, share consolidations like that of Battery X Metals Inc. serve as strategic steps for companies aiming to streamline their capital structure and strengthen their market presence. With a clear intent to attract broader investment interest, the company is not just managing its resources but aligning itself for future growth in a sector poised for remarkable expansion. Battery X Metals remains committed to sustainability and innovation, which may further distinguish it within its industry in the coming years.
For more details or inquiries, please contact:
Massimo Bellini Bressi, Chief Executive Officer at Battery X Metals via email at mbellini@batteryxmetals.com or call (604) 741-0444.
For further information, visit Battery X Metals.
This forward-looking statement includes the inherent risks and uncertainties associated with future plans and projections. Please refer to the company’s filings on SEDAR+ for a comprehensive overview of relevant factors influencing these expectations.
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