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BMR is also pleased to announce that it has entered into interest settlement agreements with certain holders of convertible debentures of the Company (the “Debenture Holders”) for the payment of accrued interest owing under convertible debentures previously issued by the Company during 2022 by way of issuance of common shares of the Company. Pursuant to these agreements, BMR has agreed to issue an aggregate of 5,202,902 common shares (“Shares”) to settle
- 1,575,758 Shares at a deemed price of
C$0.165 per Share. - 294,300 Shares at a deemed price of
C$0.19 per Share. - 2,194,800 Shares at a deemed price of
C$0.14 per Share; and - 1,138,044 Shares at a deemed price of
C$0.18 per Share.
The completion of the Interest Settlement Transactions is subject to the acceptance of the
The Interest Settlement Transactions will constitute a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the Shares nor the interest owing to the Debenture Holders exceeds 25% of the Company's market capitalization.
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Phone: +1 (604) 229 3830
info@bmrcorp.com
Corporate Communications
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editor@investorbrandnetwork.com
Twitter: @BMRcorp_
www.bmrcorp.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
Forward Looking Statements:
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of the Company on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain sufficient financing to complete exploration and development activities, the ability of the Company to secure the Advances under the Loan Agreement, timing of the completion of the Company’s audit, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the ability of the Company to meet its anticipated development schedule, government regulation and fluctuating metal prices. Accordingly, readers should not place undue reliance on forward-looking statements. Battery undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein, whether as a result of new information or future events or otherwise, except as may be required by law.
Contact Details
+1 604-229-3830
info@bmrcorp.com
Company Website
https://bmrcorp.com/
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