Battery Resourcers, Inc. announced that it will issue 13,565,324 series B preferred share at an issue price of $1.6702 per share for gross proceeds of $22,656,804.1448 on March 17, 2021. The shares will be convertible in common shares at a fixed conversion price of $1.6702 per share. The shares carry non-cumulative fixed dividend rate of 8% per annum.

The minimum investment accepted from any outside investor is $25,000. The company will issue securities pursuant to exemption provided under Regulation D. The round will be raised at post money valuation of $39,358,804.