Battery X Metals Inc. has closed the second tranche of its non-brokered private placement, issuing 41,185 units at a price of $2.75 per unit to raise gross proceeds of $113,260.95.

Each unit consists of one common share and one transferable common share purchase warrant. Each warrant entitles the holder to acquire an additional share at an exercise price of $3.00 until August 12, 2028. Securities issued under this second tranche are subject to a statutory hold period expiring on December 13, 2026.

Combined with the closing of the first tranche, Battery X Metals has raised aggregate gross proceeds of C$713,261.45 through the issuance of a total of 259,367 units. This total compares with the initial May 2026 financing proposal, which aimed for aggregate gross proceeds of up to $2,000,000 through the issuance of up to 727,272 units.

The company intends to allocate the net proceeds toward advancing corporate development, covering regulatory matters for strategic capital markets initiatives, paying outstanding and future payables and indebtedness, funding corporate awareness programs, and supporting general working capital purposes. These funds are designated to back the company’s integrated 360° strategy across the battery metals value chain, encompassing exploration, rebalancing, and recycling.

Battery X Metals expects the remaining portion of the private placement to close, in whole or in part, in one or more additional tranches on or before September 4, 2026, subject to compliance with Canadian Securities Exchange policies. There is no assurance that any additional tranche will be completed within that timeframe or at all.

Read the full announcement: Battery X Metals Announces Closing of Second Tranche of Private Placement to Advance Corporate Growth Initiatives