Battery X Metals closes second tranche of private placement

Battery X Metals Inc. (CSE: BATX)(OTCQB: BATXF)(FSE: R0W) has closed the second tranche of a non-brokered private placement, issuing 41,185 units at $2.75 per unit for gross proceeds of $113,260.95, according to a company statement.

Each unit consists of one common share and one transferable warrant. Each warrant allows the holder to acquire one additional share at $3.00 per share, exercisable until August 12, 2028. Securities issued under the placement are subject to a statutory hold period expiring December 13, 2026.

Combined with the first tranche, the company has raised aggregate gross proceeds of C$713,261.45 through the issuance of 259,367 units.

The company said net proceeds are intended for corporate development, regulatory matters, payment of outstanding and future payables, corporate awareness initiatives, and general working capital.

The remaining portion of the placement is expected to close in one or more additional tranches on or before September 4, 2026, subject to compliance with Canadian Securities Exchange policies. The company noted there is no assurance that any additional tranche will be completed.

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