Battery X Metals Inc. announced a non-brokered private placement of up to 1,000,000 units at a price of CAD 0.10 per unit for the gross proceeds of CAD 100,000 on January 29, 2024. Each unit shall consist of one common share in the capital of the company and one transferable share purchase warrant of the company, with each warrant exercisable to acquire a common share of the company at a price of CAD 0.20 per warrant share for a period of 24 months from the date of closing. The transaction is expected to close on or about February 5, 2024, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadian Securities Exchange.

The securities issued under the Private Placement will be subject to a statutory hold period in Canada expiring four months and one day from the Closing Date.