VANCOUVER, BC / ACESSWIRE / June 10, 2020 / BlueBird Battery Metals Inc. (TSXV:BATT)(OTC PINK:BBBMF) (the "Company" or "BlueBird") is pleased to announce that it has arranged a private placement of 16,666,667 units at $0.15 per unit for total gross proceeds of $2,500,000 (the "Placement"). Each unit will consist of one common share and one-half of one transferable share purchase warrant, each whole warrant (a "Warrant") exercisable into one additional common share for a period of two years from the date of issue at a price of $0.25 per share. The Warrants will be subject to an acceleration provision whereby if at any time after all regulatory hold periods on the Warrants expire, the closing price of the Company's common shares is $0.40 or more for a period of ten consecutive trading days, the Company will have the option to require the early exercise of the Warrants within 30 days after the tenth trading day.
Finders' fees may be payable in whole or on part of the Placement, subject to the policies of the TSX Venture Exchange.
Proceeds of the Placement will be used for exploration of the Company's Canegrass property and for general working capital.
All securities issued under the Placement will be subject to hold periods expiring four months and one day from the date of issue.
The Placement is subject to the acceptance of the TSX Venture Exchange.
On Behalf of the Board of BlueBird Battery Metals Inc.
President and Chief Executive Officer
For more information, please contact 1-855-584-0160 or [email protected].
Neither TSX Venture Exchange, the Toronto Stock Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: BlueBird Battery Metals Inc.