VANCOUVER, BC / ACCESSWIRE / August 18, 2020 / United Battery Metals Corp. (CSE:UBM) (OTC:UBMCF) (FWB:0UL) ("UBM" or the "Company") is pleased to announce that it has completed a private placement (the "Private Placement") of 19,998,858 units (each, a "Unit"), at a price of $0.11 per Unit, for total gross proceeds of 2,199,874.38. Each Unit consists of one common share and one common share purchase warrant, with each warrant being exercisable to acquire an additional common share at a price of $0.25 for a period of twenty-four months.
The Company intends to use the proceeds of the Private Placement for working capital and general corporate purposes, including with respect to its search for suitable lithium and other battery materials- related mineral properties to add to its portfolio.
All securities issued in connection with the Private Placement will be subject to a four-month- and-one-day statutory hold period in accordance with applicable securities laws. Completion of the placement remains subject to the approval of the Canadian Securities Exchange (the "CSE").
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, please contact the Company at: (604) 428-9063.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking, including all statements in regard to the Company's intention to complete the Private Placement and with respect to the Company's search for suitable additional mineral properties. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements; in this regard, there is a risk that the Private Placement may not be completed as contemplated, or at all, and that the Company may not be able to identify or acquire any additional mineral properties. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, obtaining necessary approval from the CSE, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
SOURCE: United Battery Metals Corp.