Battery X Metals Secures New Funding to Advance Critical Mineral Strategy
Vancouver, Thursday, 13 August 2026.
Battery X Metals has closed the second tranche of its private placement, bringing total funds raised to over C$713,000. Remarkably, its battery rebalancing technology has demonstrated a 99% capacity recovery.
Battery X Metals Secures New Funding to Advance Critical Mineral Strategy
Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF) announced on August 13, 2026, the successful closing of the second tranche of its non-brokered private placement [1]. The capital raise is designed to advance corporate growth strategies and fund ongoing energy transition resource exploration initiatives [1]. This financing activity highlights the company’s focus on securing early-stage growth capital as demand for critical minerals intensifies across North American supply chains [1]. The announcement confirms the company’s commitment to its integrated 360° strategy for the battery metals value chain [1].
Financing Structure and Terms
The second tranche involved the issuance of 41,185 units at a price of $2.75 per unit [1]. This transaction generated aggregate gross proceeds of $113,260.95, calculated as 113258.75 [1]. Including the first tranche, total aggregate gross proceeds raised to date are C$713,261.45 via the issuance of 259,367 total units [1]. Each unit consists of one common share and one transferable common share purchase warrant [1]. The warrants are exercisable for one additional share at $3.00 until August 12, 2028 [1]. Securities issued in this placement are subject to a statutory hold period expiring December 13, 2026 [1].
Technology and Strategic Allocation
The company intends to allocate net proceeds toward corporate development, regulatory matters, debt repayment, and general working capital [1]. A key component of the company’s portfolio is its lithium-ion battery rebalancing technology, developed with the National Research Council of Canada (NRC) [1]. This technology has demonstrated a capacity recovery of approximately 99% of capacity lost due to cell imbalance [1]. Proceeds will support this integrated 360° strategy across battery exploration, rebalancing, and recycling [1]. Management notes that actual allocations may shift based on business requirements or changing circumstances [1].
Future Closing and Timelines
The remaining portion of the private placement is expected to close in one or more additional tranches on or before September 4, 2026 [1]. This future closing is subject to Canadian Securities Exchange policies [1]. Management emphasizes that forward-looking information is not a guarantee of future performance and reflects expectations only as of the date of the announcement [1]. There can be no assurance that the remaining portion of the Private Placement will be completed, in whole or in part, within the expected timeline [1]. The company continues to navigate market conditions and investor demand to finalize the financing [1].