Construction Plans for Battery Metals Recycling Plant Advance as Expected
INCLINE VILLAGE, NV / ACCESSWIRE / March 19, 2020 / American Battery Metals Corporation (OTCQB:ABML) ("the Company"), an American-owned advanced extraction and battery recycling technology company with extensive mineral resources in Nevada, is pleased announce that its previously disclosed (on February 19, 2020) $10 million strategic investment infusion has been confirmed, as well as the expected timing of the full funding by April 19, 2020.
The significant strategic capital investment is from Newood Finance Solutions Limited, a Fiji corporation doing business as Unifinance Limited ("Unifinance), and an affiliate of VCM Group Pty Limited ("VCM"), the Company's EPC, Engineering, Procurement, and Construction partner.
VCM Director, Ashley Walton, commented, "Despite the current global crisis sparked mainly due to the Russia-Saudi Oil price war and the current Coronavirus pandemic situation, which has caused extreme stress in global financial markets and banking systems, there has been no effect on our Unifinance business model and it does not put stress on our balance sheet or assets. Unifinance is not in a financial position that is affected by the extremes in the current market conditions and all financial commitments on offer or under offer or pre contract will be completed accordingly. We are truly pleased to partner with American Battery Metals Corporation and look forward to funding our $10 million commitment by April 19, 2020."
With this new funding commitment, American Battery Metals Corporation is well-positioned to aggressively pursue its main areas of focus; lithium-ion battery recycling and its advanced extraction technology. American Battery Metals Corporation has assembled a talented team with vast experience in battery metals, state of the art recycling technology, extraction, and resource permitting. The VCM sourced funding provides important resources to realize American Battery Metals Corporation's vision of becoming the world's first fully integrated battery metals supply chain provider.
American Battery Metals Corporation
American Battery Metals Corporation (www.batterymetals.com) (OTCQB:ABML) is an American-owned, advanced extraction and battery recycling technology company with extensive mineral resources in Nevada. The company is focused on its lithium-ion battery recycling and resource production projects in Nevada, with the goal of becoming a substantial domestic supplier of battery metals to the rapidly growing electric vehicle and battery storage markets.
For more information, please visit:www.batterymetals.com
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the expected project economics for Western Nevada Basin (Railroad Valley), including estimates of life of mine, average production, cash costs, AISC, initial CAPEX, sustaining CAPEX, pre-tax IRR, pre-tax NPV, net cash flows and recovery rates, the impact of self-mining versus contract mining, the timing to obtain necessary permits, the submission of the project for final investment approval and the timing of initial gold production after investment approval and full financing, metallurgy and processing expectations, the mineral resource estimate, expectations regarding the ability to expand the mineral resource through future drilling, ongoing work to be conducted at the Western Nevada Basin (Railroad Valley), and the potential results of such efforts, the potential commissioning of a Pre-Feasibility study and the effects on timing of the project, are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended September 30, 2019. The Company assumes no obligation to update any of the information contained or referenced in this press release.
SOURCE: American Battery Metals Corporation
View source version on accesswire.com: