Battery X Metals closes private placement tranche

Battery X Metals Inc. announced and subsequently closed the first tranche of a non-brokered private placement, raising $600,000.50 by issuing 218,182 units at $2.75 each. The company initially announced the private placement on May 22, 2026, aiming to raise up to $2,000,000 through the issuance of up to 727,272 units. Each unit includes one common share and one transferable common share purchase warrant. The proceeds are intended for corporate development, regulatory matters, payment of outstanding debts, corporate awareness, and general working capital, supporting Battery X Metals' 360-degree strategy in battery metals exploration, rebalancing, and recycling. Additionally, Battery X Metals plans to settle up to $250,000 in outstanding indebtedness by issuing 83,333 common shares at a deemed price of $3.00 per share. The remaining tranches of the private placement are expected to close by June 30, 2026, subject to Canadian Securities Exchange policies. Insiders may participate in these financings.