Battery X Metals to Acquire Remaining Interest in Li-ion Battery Technology Company
Vancouver, BC – March 20, 2025 – Battery X Metals Inc. (CSE:BATX) has announced the exercise of its call right to acquire the remaining 51% of Li-ion Battery Renewable Technologies Inc. (LIBRT). This move solidifies Battery X Metals’ position in the energy transition sector by taking full ownership of LIBRT, a company focused on lithium-ion battery diagnostics and renewal technologies. The acquisition follows a news release dated June 6, 2024, along with related agreements from April 10, 2024, and subsequent amendments.
The acquisition involves the issuance of approximately 3,030,296 common shares of Battery X Metals, adjusted for a previous share consolidation. This transaction is subject to the approval of the Canadian Securities Exchange (CSE), and no finder’s fees will be paid as part of the deal. Plans are to close the Acquisition following a five-day comment period, as per CSE policies.
Battery X Metals originally acquired a 49% stake in LIBRT in 2024. Since then, LIBRT has achieved notable milestones, including strengthening its partnership with Beijing Pengneng Science & Technology Ltd. and making significant progress in its Diagnostic and Rebalancing Machine Prototype 2.0, expected for delivery in April 2025. LIBRT has also engaged a patent law firm to file provisional patents for its diagnostic and rebalancing technology.
Terms of the Acquisition
Of the shares issued, 1,818,176 will be subject to a 12-month voluntary release escrow, primarily for management and key personnel of Li-ion Battery Renewable Technologies Inc. These shares will be released incrementally over a year. The remaining 1,212,120 shares will have no such restrictions. Each vendor has also agreed to limit the sale, transfer, or disposal of any Shares exceeding 10% of the daily trading volume on the CSE without the Company’s written consent.
The closing of the Acquisition is expected on or before March 28, 2025, and it is subject to customary closing conditions.
About Battery X Metals Inc.
Battery X Metals (CSE:BATX) is an energy transition resource exploration and technology company. It focuses on advancing domestic battery technologies and critical metal resource exploration. The company is involved in exploring battery metals, recycling battery materials, and extending the life of lithium-ion and electric vehicle (EV) batteries through its portfolio company, Li-ion Battery Renewable Technologies Inc. For more information, please visit batteryxmetals.com.
About Li-ion Battery Renewable Technologies Inc.
Li-ion Battery Renewable Technologies is a Vancouver, BC-based company dedicated to creating lithium-ion battery diagnostic and renewal technologies. Their technology aims to diagnose and extend the life of electric vehicle batteries, rebalancing battery cells to address capacity degradation, which reduces waste, and minimizing the need for intensive mining. They are also developing advanced diagnostics equipment for EV battery services.
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
Forward-Looking Information Disclaimer
This news release contains forward-looking statements within the meaning of applicable securities laws. These statements relate to future events or the Company’s future performance and reflect current expectations, assumptions, and projections. Forward-looking statements include, but are not limited to, statements regarding the closing of the Acquisition, anticipated closing conditions and timelines, compliance with regulatory requirements, and the expected benefits of the transaction. These statements also encompass LIBRT’s ongoing technology development, the design and expected delivery of its Diagnostic and Rebalancing Machine Prototype 2.0, progress in securing intellectual property protection, and the potential impact of LIBRT’s lithium-ion battery diagnostic and rebalancing technology. Forward-looking statements are subject to a variety of risks, uncertainties, and other factors that could cause actual events or results to differ materially from those expressed or implied. These risks include, but are not limited to, the ability to satisfy closing conditions in a timely manner, regulatory approvals, market conditions affecting the Company’s securities, technical and operational challenges in the commercialization of LIBRT’s technology, delays in product development, uncertainties regarding intellectual property filings, and broader economic, geopolitical, and industry-specific risks. Investors are cautioned not to place undue reliance on forward-looking statements, as actual results may vary significantly. The Company disclaims any intention or obligation to update or revise forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law. Readers should refer to the Company’s public filings on SEDAR+ for further risk disclosures.
