VANCOUVER, BC – March 20, 2025 – Battery X Metals Inc. (CSE:BATX) (OTCQB:BATXF) (FSE:R0W), an energy transition resource exploration and technology company, has announced the exercise of its call right to acquire the remaining 51% of Li-ion Battery Renewable Technologies Inc. (LIBRT). This move follows an initial 49% stake acquired in 2024.
The acquisition, announced in a press release issued today, involves approximately 3,030,296 common shares of Battery X Metals. Of these shares, 1,818,176 will be subject to a 12-month voluntary release escrow, while 1,212,120 shares will have no restrictions.
LIBRT has achieved several significant milestones since Battery X Metals’ initial investment. These include strengthening its partnership with Beijing Pengneng Science & Technology and advancing the development of its Diagnostic and Rebalancing Machine Prototype 2.0, slated for delivery in April 2025. Additionally, LIBRT has begun the process to secure patent protections.
The transaction is expected to close by March 28, 2025, pending compliance with Canadian Securities Exchange (CSE) policies. No finder’s fees are payable for this acquisition.
The closing of the acquisition is subject to customary closing conditions, including compliance with CSE policies. Following the closing, the company will have full ownership of LIBRT.
Key Points of the Acquisition:
- Share Issuance: 3,030,296 new Battery X Metals common shares will be issued.
- Escrow Conditions: 1,818,176 shares will be subject to a 12-month escrow agreement.
- Milestones Achieved by LIBRT: Stronger partnership with Beijing Pengneng, development of Diagnostic and Rebalancing Machine Prototype 2.0, and the filing of provisional patents.
- Closing Date: The acquisition is anticipated to close on or before March 28, 2025.
Battery X Metals, in a press release, addressed the forward-looking statements, risks, and uncertainties associated with the transaction. The company stated it is actively pursuing the consolidation of its interest in LIBRT, emphasizing the potential to strengthen its position within the battery technology market.
