on Battery X Metals (CVE:BATX)
Battery X Metals to Fully Acquire LIBRT Shares
Battery X Metals Inc. announced its decision to acquire the remaining 51% of Li-ion Battery Renewable Technologies Inc. (LIBRT). This move is part of its strategy to consolidate interest in LIBRT, having initially acquired a 49% stake in 2024. The acquisition agreement involves issuing approximately 3,030,296 Battery X Metals shares, with no finder's fees attached.
Post-acquisition, key milestones achieved by LIBRT include significant technological advancements and partnerships, notably with Beijing Pengneng Science & Technology. LIBRT has also progressed in developing its Diagnostic and Rebalancing Machine Prototype 2.0, poised for April 2025 delivery. Additionally, the company is actively securing patents for its battery technology.
The acquisition is subject to Canadian Securities Exchange policies, with anticipated completion by March 28, 2025. A portion of shares issued will have a 12-month voluntary escrow, ensuring vested interests in LIBRT.
R. E.
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