Battery X Metals Achieves Battery Recycling Milestone and Strengthens Team with Industry Experts
Company achieves significant battery recycling milestone and bolsters team
VANCOUVER, British Columbia – August 10, 2023 – Battery X Metals Inc. (CSE: BATX) (OTCQB: BATXF) ("Battery X Metals" or the "Company") is pleased to announce a series of significant developments and milestones that demonstrate its commitment to advancing battery recycling research and technology while strengthening its team with experienced personnel.
1. Battery X Metals Achieves Milestone by Delivering Black Mass from End-of-Life Lithium-Ion Batteries to University of British Columbia for Joint Development Partnership
Battery X Metals achieved a significant milestone in its battery recycling endeavors. The Company successfully acquired end-of-life lithium-ion batteries and processed them through a meticulous discharging and shredding process, resulting in the creation of a high-value finished product known as black mass.
Black mass is the industry term used to describe the material remaining once spent lithium-ion batteries are shredded, and all casings have been removed. This material contains an array of valuable elements, including nickel, cobalt, manganese, copper, lithium, and graphite. Once recovered, these elements can be recycled to produce new lithium-ion batteries, contributing to a more sustainable and eco-friendly approach to battery production.
In collaboration with the University of British Columbia (“UBC”), Battery X Metals has commenced a Joint Development Partnership, leveraging the expertise and research capabilities of UBC to advance battery recycling technology. The delivery of the black mass marks a crucial step in propelling the research and development efforts, with the aim of validating and optimizing the company’s proprietary recovery process for these critical elements.
"We are thrilled to reach this milestone in our battery recycling initiatives," stated Mark Brezer, CEO of Battery X Metals. "The successful delivery of black mass to UBC and the commencement of our Joint Development Partnership signify the beginning of a transformative journey in sustainable battery recycling."
Through this strategic partnership, Battery X Metals aims to revolutionize the recycling of end-of-life lithium-ion batteries and play a significant role in the transition towards a more circular economy. By recovering and reusing these valuable materials, the Company contributes to reducing waste and lessening the environmental impact of battery disposal by facilitating urban mining from end-of-life lithium-ion batteries.
As the Joint Development Partnership with UBC progresses, Battery X Metals is dedicated to refining its black mass processing technology, with the ultimate goal of enhancing the efficiency and effectiveness of critical element recovery. The Company looks forward to sharing the outcomes of this ground-breaking research and reinforcing its position at the forefront of sustainable battery recycling technology. Upon successful validation, the Company plans to file its first provisional patent for this groundbreaking technology.
2. Battery X Metals Announces the Bolstering out of its Management Team to advance its Battery Metal Exploration and Recycling Technology Initiatives
Battery X Metals welcomes two experienced individuals to its team to enhance its battery metal exploration and recycling technology initiatives:
Alain Moreau joins as Exploration Manager of Lithium Properties, bringing over 35 years of versatile expertise in exploration innovation, program management, and corporate leadership. His knowledge and experience in strategic metals and industrial minerals make him a valuable addition to the team.
Brodie Gunning joins as Senior Manager of Battery Recycling, leveraging his background in Battery Storage, Electric Vehicle infrastructure, Charging Technologies across Asia and the Americas. His experience and market partnerships will help Battery X Metals innovate and scale into new markets contributing to the Company's growth and R&D plans.
3. Battery X Metals Announces Symbol Change on OTC Markets to BATXF
Battery X Metals has changed its trading symbol on the OTCQB to "BATXF" effective immediately. This update aligns with the recent corporate name change and reflects the Company's focus on the battery metals industry. No action is required by shareholders with respect to the ticker symbol change.
Battery X Metals remains committed to the exploration and acquisition of critical mineral property assets in North America, such as battery and precious metals, and developing battery recycling technology to support the growing demand for sustainable and environmentally friendly energy solutions. The Company believes that its advancements in its initiatives and new team members will play a vital role in achieving its mission of a greener and more sustainable future for the battery industry.
About Battery X Metals Inc.
Battery X Metals Inc. (CSE: BATX) (OTCQB: BATXF) is focused on the exploration and acquisition of critical mineral property assets in North America, such as battery and precious metals, and developing battery recycling technology to support the growing demand for sustainable and environmentally friendly energy solutions. The Company’s Opatica Lithium Project is located in the Quebec James Bay region, an area known for its abundance of hard rock lithium resources. Additionally, the Company's wholly owned subsidiary, Battery X Recycling Technologies Inc., is dedicated to developing innovative technologies for refining battery metals and facilitating urban mining from spent lithium-ion batteries. Battery X Metals Inc. also holds ownership of gold exploration properties in Ontario's Red Lake Mining District, strategically located near Kinross Gold's Sobel and Bear Head properties. With a dedicated management team, focused on maximizing shareholder value and commitment to sustainability, Battery X Metals is positioned to be an emerging leader in critical mineral exploration and tomorrow’s battery recycling industry.
On Behalf of the Board of Directors
Mark Brezer, Director
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Forward-Looking Statement Cautions
This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, relating to the Company’s plans and expectations regarding the Acquisition; the potential benefits of and opportunities relating to the Acquisition; plans for future exploration of the Opatica Lithium Project; and merits of the Opatica Lithium Project. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates, ” “believes,” “intends, ” “estimates,” “projects,” “aims,” “suggests,” “indicate,” “often,” “target,” “future,” “likely,” “pending,” “potential,” “goal,” “objective, ” “prospective, ” and “possibly,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the Canadian Securities Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the completion of the Acquisition and risks associated with mineral exploration operations, inludint the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Management’s Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.