United Battery Metals Corp. Announces Completion of Amalgamation
14.10.2020 | ACCESS Newswire
VANCOUVER, Oct. 14, 2020 - United Battery Metals Corp. (CSE:UBM)(OTC PINK:UBMCF)(FRA:0UL) ("UBM" or the "Company") is pleased to announce that the previously-announced (see news release dated September 2, 2020) amalgamation ("Amalgamation") between its wholly-owned subsidiary, 1263391 B.C. Ltd. ("Subco"), and 1257590 B.C. Ltd. ("125") under the Business Corporations Act (British Columbia) has been completed.
The Company issued the following securities in connection with the Amalgamation:
- to the previous shareholders of 125, an aggregate of 11,500,000 common shares of the Company; and
- to the owner of the Barbara Lake Lithium Property ("Property"), 109,965 common shares of the Company.
No finder's fee was paid in connection with the Amalgamation.
Pursuant to the Amalgamation, the Company has indirectly acquired 125's option (the "Option") to acquire up to 100% of the Property, which is comprised of 56 mining cell claims covering approximately 2,147 hectares' land in the Barbara Lake Area, Thunder Bay Mining District, Ontario, Canada, as further described in the Company's September 2, 2020 news release.
ON BEHALF OF THE BOARD OF DIRECTORS
"Michael Dehn"
Chief Executive Officer
For further information, please contact the Company at: (778) 233-3537.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
SOURCE: United Battery Metals Corp.