American Battery Metals Corporation Pays Off Convertible Notes to Avoid Potential Equity Dilution
INCLINE VILLAGE, NV / ACCESSWIRE / March 4, 2020 / American Battery Metals Corporation (OTCQB: ABML ) (the “Company”), an American-owned advanced extraction and battery recycling technology company with valuable mineral resources in Nevada, is pleased to announce that it has repaid and satisfied all the convertible notes that had become due and convertible into common stock at a discount to market.
American Battery Metals Corporation Chief Executive Officer, Doug Cole, stated, “As an emerging growth micro-cap publicly traded company, we had to do what was needed to survive and advance our business. With that said, we were grateful to attract funding from institutional convertible notes over the past two years to advance the company to where it is today. However, as additional notes matured and recently became convertible into common stock, we realized the negative effects those conversions were having on the dilution of our stock and the downward pressure on its price. Thus, we have repaid and satisfied these convertible notes in order to avoid any further potential equity dilution. At this time, there are other convertible notes that have yet to mature and currently have no ability to convert into equity. As these other convertible notes get closer to maturity, we are prepared to repay and satisfy them as well to prevent any further equity dilution and to let the stock trade on its own merits. We look forward to keeping our shareholders and the Wall Street community updated as the company continues to meet its goals to become a major U.S. battery metals supplier.”
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 valuable 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
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