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South Star Announces Closing of Final Tranche of Private Placement and Announces AGSM Results
Globenewswire· 2025-11-22 01:00
Core Viewpoint - South Star Battery Metals Corp. has successfully closed the third and final tranche of its non-brokered private placement, raising a total of C$6,672,000 (approximately US$4,800,000) through the Unit Offering, which will support exploration and development activities [2][5]. Group 1: Unit Offering Details - The third tranche involved the issuance of 22,744,253 units at a price of C$0.15 per unit, generating gross proceeds of C$3,411,638 (approximately US$2,454,416) [2][5]. - Each unit consists of one common share and one common share purchase warrant, with warrants allowing the purchase of additional shares at C$0.20 for five years [3]. - The total gross proceeds from all tranches of the Unit Offering will be allocated for exploration, development, general administrative expenses, and working capital [4]. Group 2: Shareholder Approval and Insider Participation - Shareholders approved all matters at the Annual General and Special Meeting, including the creation of a new control person, Tiago Sampaio Cunha, who purchased an additional 12,342,087 units in the third tranche [6][8]. - Following the third tranche closing, Mr. Tiago Cunha's funds control 25,455,552 shares, representing 23.92% of the company's issued shares [6]. Group 3: Financial and Operational Highlights - The company paid finder's fees totaling C$258,995 (approximately US$186,328) in cash and issued 1,987,722 shares as part of the Unit Offering [7]. - The Santa Cruz Graphite Project in Brazil is the first new graphite production in the Americas since 1996, with successful pilot-plant testing showing high recovery rates and quality [10]. - The BamaStar Project in Alabama has demonstrated strong economic results with a pre-tax NPV of US$2.4 billion and an IRR of 35% [11].
Cruz Battery Metals Announces Closing of Private Placement to Fund Work Programs on its Nevada & Ontario Projects
Newsfile· 2025-11-21 08:01
Core Viewpoint - Cruz Battery Metals Corp. has successfully completed a private placement financing, raising a total of $488,438 to fund work programs on its lithium and gold/copper projects in Nevada and Ontario [1][3]. Financing Details - The company issued 14,982,750 units at a price of $0.0326 per unit, with each unit consisting of one common share and one share purchase warrant [1]. - The financing included cash finder's fees of $26,210 and the issuance of 744,000 non-transferrable share purchase warrants [2]. Use of Proceeds - Net proceeds from the financing will be allocated to work programs on the Solar Lithium Project in Nevada and the Sterling South Gold/Copper Project in Ontario [3]. - The company has discovered lithium in all 14 drill holes during the first four phases of drilling on the Solar Lithium Project [3]. Market Context - Lithium prices are currently at year highs, and there has been renewed interest in domestic lithium projects following recent developments in the sector [4]. - The company aims to produce a Maiden Resource Estimate for the Solar Lithium Project in the first half of 2026 [4]. Project Overview - Cruz Battery Metals has several projects focused on battery metals, including the Solar Lithium Project, Clayton Valley Lithium Brine Project, and the Sterling South Gold/Copper Project [9]. - The Solar Lithium Project spans 4,938 acres, while the Sterling South Gold/Copper Project consists of approximately 2,500 acres [9].
South Star Announces Closing of First Tranche of Non-Brokered Private Placement of Units
Globenewswire· 2025-10-10 23:27
Core Viewpoint - South Star Battery Metals Corp. has successfully closed the first tranche of its non-brokered private placement, raising gross proceeds of C$828,227 (approximately US$595,847) by issuing 5,521,512 units at a price of C$0.15 per unit [1][3]. Group 1: Unit Offering Details - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the purchase of an additional share at C$0.20 for five years, subject to acceleration conditions [2]. - The securities from the first tranche are subject to a statutory hold period of four months and one day, and the net proceeds will be allocated for exploration, development, and working capital [3]. - The company plans to close additional tranches of the Unit Offering, pending necessary approvals [4]. Group 2: Changes in Financing Strategy - The company has decided to cancel a previously announced Note Offering of convertible notes for gross proceeds of up to C$2.085 million, redirecting those funds to purchase units in the Unit Offering instead [5]. - This change has increased the total size of the Unit Offering to up to C$6,255,000 (US$4.5 million) [5]. Group 3: Insider Participation - Funds controlled by Mr. Tiago Cunha purchased 1,557,912 units in the first tranche, giving him control of 19.9% of the company's shares [6]. - The company intends to hold a shareholder meeting to seek approval for Mr. Cunha to become a control person, which would allow for the purchase of an additional 12,342,088 units [6]. - Insiders collectively purchased 2,007,912 units in the first tranche, qualifying as a related party transaction under MI 61-101, with the company relying on exemptions from formal valuation and minority shareholder approval [7]. Group 4: Company Overview - South Star Battery Metals Corp. is focused on developing battery metals projects in the Americas, with its Santa Cruz Graphite Project in Brazil being the first to enter production [11]. - The Santa Cruz project has shown promising results, with successful pilot-plant testing indicating high-quality graphite concentrate [11]. - The BamaStar Project in Alabama is also in development, with strong economic assessments indicating a pre-tax NPV of US$2.4 billion and an IRR of 35% [12].
Cruz Battery Metals Acquires the 'Sterling South Gold/Copper Project' in Ontario
Newsfile· 2025-10-06 07:01
Core Insights - Cruz Battery Metals Corp. has acquired the 'Sterling South Gold/Copper Project' in Ontario, which consists of 42 claim units covering approximately 2,500 acres [1][4] - The acquisition is strategically aimed at diversifying the company's portfolio beyond lithium, as gold and copper prices are near all-time highs [2] - The company is optimistic about its future projects and the renewed interest in domestic lithium due to government involvement in Lithium Americas' Thacker Pass Lithium Mine [2] Company Overview - The newly acquired project is located adjacent to Sterling Metals Corp.'s recent high-grade copper discovery at the Soo Copper Project, which reported significant copper equivalent intersections [1][4] - Cruz Battery Metals also holds several battery metals-focused projects in the USA, including lithium and cobalt projects [4] - The technical content of the acquisition was reviewed by a qualified person, ensuring compliance with industry standards [3]
South Star Announces Non-Brokered Private Placements
Globenewswire· 2025-09-30 23:00
Core Viewpoint - South Star Battery Metals Corp. is conducting a non-brokered private placement to raise up to C$4.17 million (US$3.0 million) through units and C$2.085 million (US$1.5 million) through unsecured convertible notes, aimed at funding exploration, development, and general working capital [1][7]. Unit Offering - The Company plans to issue up to 27,800,000 Units at a price of C$0.15 per Unit, each consisting of one common share and one common share purchase warrant [2]. - Each Warrant allows the holder to acquire one Share at C$0.20 for five years, with potential acceleration if the share price exceeds C$0.40 for ten consecutive trading days [2]. Note Offering - Tiago Cunha, interim CEO, and affiliates will subscribe for C$2.085 million (US$1.5 million) principal amount of Notes, which will convert into units at C$0.15 per Note Unit upon shareholder approval [3][4]. - The Notes will bear a 12% annual interest rate, payable in cash on the maturity date, which is one year from the closing date [5]. Shareholder Approval - The conversion of the Note Units will make Tiago Cunha a control person of the Company, requiring shareholder approval [4]. - The Company intends to hold a shareholder meeting to seek this approval [4]. Use of Proceeds - Net proceeds from the Offerings are expected to be allocated for exploration, development, corporate general and administrative expenses, and general working capital [7]. Regulatory Compliance - The Offerings will be conducted in compliance with Canadian regulations, targeting accredited investors and exempt purchasers [6]. - All securities issued will be subject to statutory hold periods under applicable securities legislation [6]. Company Overview - South Star Battery Metals Corp. focuses on developing battery metals projects in the Americas, with its Santa Cruz Graphite Project in Brazil being the first to enter production [12]. - The Company is also developing the BamaStar Project in Alabama, which has shown strong economic results with a pre-tax NPV of US$2.4 billion and an IRR of 35% [13].
South Star Announces Closing of First Tranche of Private Placement, Extension and US$450,000 of Bridge Loans
Globenewswire· 2025-08-06 22:30
Core Viewpoint - South Star Battery Metals Corp has successfully completed an initial tranche of a non-brokered private placement, raising gross proceeds of US$302,610 (CA$415,263.45) for development, production, and working capital needs [1][2]. Private Placement Details - The first tranche consists of 1,375,500 Units, each comprising a common share priced at US$0.22 (CA$0.3019) and a common share purchase warrant [2]. - Each warrant is exercisable into one common share at the same price for five years from the date of issue, and the Units are subject to a four-month hold period [2]. - The closing of the Private Placement is contingent upon customary conditions, including TSX Venture Exchange approval [2]. Insider Participation - An insider participated in the Private Placement, acquiring 1,000,000 Units for a total of US$220,000, which is classified as a related party transaction [4]. - The company is relying on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101, as the transaction does not exceed 25% of the company's market capitalization [4]. Bridge Loans - South Star has secured bridge loans totaling US$450,000 to provide short-term funding while pursuing the closing of the subsequent tranche of the private placement [5]. - The bridge loans are evidenced by unsecured promissory notes with a 1% monthly interest rate, maturing on January 7, 2026, unless repaid earlier [6]. - The proceeds from the bridge loans will be used for general working capital purposes [7]. Related Party Transactions - US$450,000 of the bridge funding was provided by directors and officers of the company, also constituting a related party transaction [8]. - The company is relying on exemptions from formal valuation and minority shareholder approval requirements for this transaction as well [8]. Company Overview - South Star Battery Metals Corp is focused on developing battery-metals projects in the Americas, with its Santa Cruz Graphite Project in Brazil being the first to enter production [11]. - The Santa Cruz project has shown promising results, with a significant portion of graphite concentrate being of high quality [11]. - The company is also developing the BamaStar Project in Alabama, which has demonstrated strong economic results in preliminary assessments [12].
RETRANSMISSION: Cruz Battery Metals Board Approves Strategic Diversification into Crypto Assets
Newsfile· 2025-07-23 07:01
Core Viewpoint - Cruz Battery Metals Corp. has approved a strategic initiative to diversify a portion of its free cash into select crypto assets, aiming to enhance shareholder value and align with emerging global trends [1][2][3]. Group 1: Strategic Initiative - The decision to invest in crypto assets is part of Cruz's commitment to exploring innovative investment avenues while maintaining its core focus on battery metals exploration, particularly lithium and cobalt [2][3]. - This diversification strategy is intended to strengthen the company's balance sheet by gaining exposure to digital assets with long-term growth potential [2][3]. Group 2: Management Commentary - The President of Cruz Battery Metals stated that this strategic step reflects a proactive approach to capital management, presenting an additional opportunity to enhance shareholder value alongside core operations [3]. - The crypto market has seen renewed momentum, and companies in this space have demonstrated strong investor interest, which supports Cruz's decision to diversify [3]. Group 3: Core Operations - Cruz's primary business remains focused on advancing its U.S.-based battery metals projects, including the 4,938-acre Solar Lithium Project, Clayton Valley lithium brine assets, and Idaho Cobalt Belt Project [3][4]. - The company will continue to evaluate all investment opportunities prudently, with the goal of sustainable, long-term growth [3].
Nord Announces Revocation of MCTO
Thenewswire· 2025-07-22 23:10
Core Points - The British Columbia Securities Commission has revoked the management cease trade order (MCTO) for Nord Precious Metals Mining Inc. effective July 22, 2025, allowing management to trade the company's securities again [1][2] - The company successfully filed its annual audited financial statements for the year ended December 31, 2024, and interim financial statements for the three months ended March 31, 2025, which were prerequisites for the MCTO revocation [1][2] Company Overview - Nord Precious Metals Mining Inc. operates the only permitted high-grade milling facility in the historic Cobalt Camp of Ontario, focusing on high-grade silver discovery and strategic metals recovery [4] - The flagship Castle property covers 63 square kilometers and includes the past-producing Castle Mine, with drilling delineating 7.56 million ounces of silver in inferred resources at an average grade of 8,582 g/t Ag (250.2 oz/ton) [4] - The company's integrated processing strategy enhances the economics of extracting critical minerals such as cobalt and nickel, utilizing a proprietary Re-2Ox hydrometallurgical process for producing technical-grade cobalt sulfate and nickel-manganese-cobalt formulations [5] Strategic Positioning - Nord maintains a strategic portfolio of battery metals properties in Northern Quebec, including a 35% ownership in Coniagas Battery Metals Inc. and the St. Denis-Sangster lithium project, which spans 260 square kilometers near Cochrane, Ontario [6]
Investor Webinar - Caesium MRE
Prnewswire· 2025-07-21 02:48
Core Viewpoint - Patriot Battery Metals Inc. announced a maiden Mineral Resource Estimate for caesium at the Rigel and Vega zones of its Shaakichiuwaanaan Property, highlighting the significance of this discovery and its implications for the company's future projects [1]. Group 1 - The live investor webinar will be hosted by Ken Brinsden, the Company's President, CEO, and Managing Director, to discuss the caesium discovery and provide updates on the lithium-only Definitive Feasibility Study for CV5 Shaakichiuwaanaan [1]. - Investors and shareholders can submit questions during the webinar or in advance via email to the Investor Relations Manager [2]. - The webinar is scheduled for July 22, 2025, at 8:00 AM Australian Western Standard Time, lasting approximately 45 minutes, with registration available online [3].
Cruz Battery Metals Approves All Matters at AGM
Newsfile· 2025-06-27 07:01
Group 1 - The AGM held on June 25, 2025, resulted in the approval of all matters by the shareholders [1] - The company anticipates a more active second half of 2025 with strategic initiatives aimed at increasing shareholder value [2] - There are no plans for share consolidation by the company [2] Group 2 - Cruz Battery Metals Corp. has several battery metals-focused projects in the USA, including the Solar Lithium Project, Clayton Valley Lithium Brine Project, Central Clayton Valley Lithium Brine Project, and Idaho Cobalt Belt Project [2] - The Solar Lithium Project spans 4,938 acres, the Clayton Valley Lithium Brine Project covers 240 acres, and the Central Clayton Valley Lithium Brine Project is 580 acres [2] - The Idaho Cobalt Belt Project encompasses 124 acres [2]