VANCOUVER, British Columbia, Dec. 1, 2022 (GLOBE NEWSWIRE) — Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX-V: PMET) (OTCQB: PMETF) (FSE: R9GA) is pleased to announce that it has successfully completed an initial public offering on the Australian Securities Exchange (“ASX”) of 7,000,000 CHESS Depository Interests (each a “CDI” and each 10 CDIs representing one fully paid up common share for an aggregate of 700,000 has underlying common stock) at a price of A$0.60 per CDI for gross proceeds of A$4,200,000 (approximately $3,654,000). The Company has received Patriot’s official listing and listing of Patriot’s CHESS Depository Interests (CDIs) from the ASX, subject to customary conditions. Patriot is working with ASX to meet the listing requirements and it is expected that trading in Patriot’s CDIs (code ‘PMT’) on the ASX will commence on 7th December 2022 (Australian time) on a normal settlement basis.
Upon completion of the listing on the ASX, the Company expects to receive and review a backlog of analytical results with further announcements expected in the coming weeks.
About Patriot Battery Metals Inc.
Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base and precious metals.
The Company’s flagship property is its 100% owned Corvette Property, located near the Trans-Taiga Road and power line infrastructure corridor in the James Bay region of Quebec. The land package hosts significant lithium potential highlighted by the 2.2 km long CV5 spodumene pegmatite with drill intercepts of 1.65% Li2O and 193 ppm Ta2O5 over 159.7 m (CV22-042) and 2.22% Li2O and 147 ppm Ta2O5 highlighted over 70.1m, including 3.01% Li2O and 160ppm Ta2O5 over 40.7m (CV22-017). In addition, the property hosts the Golden Gap trend with grab samples ranging from 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7m in the hole, and the Maven trend at 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop.
The Company also owns 100% of the Freeman Creek gold property in Idaho, USA, which hosts two prospective gold prospects – the Gold Dyke prospect with a 2020 drill hole intersection of 4.11 g/t Au and 33.0 g/t Ag over 12 metres , and the Carmen Creek prospect with surface assay results including 25.5 g/t Au, 159 g/t Ag and 9.75% Cu.
The Company’s other assets include the Pontax, QC lithium-gold property; and the Hidden Lake Lithium Property, NWT, in which the Company holds a 40% interest, as well as several other assets in Canada.
For more information please contact us at This email address is being protected from spam bots. You need JavaScript enabled to view it.
Tel: +1 (604) 279-8709 or visit www.patriotbatterymetals.com.
On behalf of the Board of Directors,
“BLAIR WAY”
Blair Way, President, CEO and Director
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by words such as “will”, “may”, “should”, “anticipate”, “expect” and similar expressions. All statements in this press release, other than statements of historical fact, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the results of additional exploration and testing and other risks described from time to time in the Company’s filings with securities regulators, available at www.sedar.com. The reader is cautioned that assumptions used in preparing the forward-looking information may prove to be incorrect. Events or circumstances could cause actual results to differ materially from those projected due to numerous known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control. The reader is cautioned not to place undue reliance on any forward-looking information. Although this information was believed to be reasonable by management at the time it was prepared, it could prove to be incorrect and actual results could differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release and the Company will publicly update or revise any forward-looking statements contained herein as expressly required by applicable law.
No securities regulatory authority or exchange has reviewed and accepts responsibility for the adequacy or accuracy of the contents of this press release.
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