![]() The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a), 5.5(b), 5.7(a) and 5.7(f). ![]() The Company as its securities are listed for trading on the TSXV. Accordingly, the Loan is considered a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The Lender or its affiliates have control or direction over securities of the Company carrying more than 10% of the voting rights attached to the Company's outstanding voting securities. This funding will allow BMR to continue advancing the Punitaqui copper mining complex towards a profitable and sustainable restart and most importantly, gives us more flexibility as we seek the final non-dilutive funding required to restart Punitaqui, expected in the next one to two months. Martin Kostuik, Battery's CEO and Director stated "we are delighted to have such strong support from our major shareholder provided by this short-term debt financing. The proceeds of the financing will be used for general working capital. In connection with the financing, BMR issued a promissory note to the Lender, which matures on September 15, 2023, and bears interest at a rate of 8% per annum, with interest payable at the maturity of the note. ![]() ( TSXV: BMR ) ( OTCQB: BTRMF ) (" Battery " or " BMR " or the " Company ") is pleased to announce that it has entered into a debt financing arrangement with Weston Energy LLC (the " Lender ") for aggregate gross proceeds of US$2,000,000.
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