American Battery Metals Corp (OTCMKTS: ABML) has been on a steady rise since the Company announced it has received an initial investment towards its $10 million strategic investment infusion from Unifinance Limited. The entire $10 million investment, in the form of a purchase of the Company’s Series B preferred stock which is convertible into common stock of the Company at a fixed price of $0.25 per share, remains committed and will be provided as needed for the construction of the Company’s battery metals recycling plans.
The significant strategic capital investment is from Newood Finance Solutions Limited, a Fiji corporation doing business as Unifinance Limited and an affiliate of VCM Group Pty Limited the Company’s EPC partner.
American Battery Metals Corp (OTCMKTS: ABML) owns land in Railroad Valley, NV, where its 1300 claims span 26,000 acres on BLM land. ABML has done extensive geophysics and drilling and will continue to do more intensive land surveys and drilling. ABML also has an extraction business. It’s a proprietary, closed-loop, zero-waste extraction process. That means everything that comes out of the ground is either sold or returned back down to the earth in an environmentally-sustainable way. The advantage of the ABML process is that there is no two-year wait to obtain the lithium, as is common with the conventional evaporation ponds used in South American projects. There’s no ruining the ground with multiple football-field-sized ponds cutting into the earth. In fact, once lithium comes out of the well, ABML can be producing it within eight hours into a salable product that can go directly into the supply chain.
The Company has rapidly advanced its lithium-ion battery recycling system from technical validation at the laboratory level, to individual pilot equipment optimizations, and now to the implementation of a first-of-kind commercial facility at record pace. Consequently, American Battery Metals Corporation CTO Ryan Melsert was invited to participate in the IEA workshop in Paris, and to deliver the keynote address for the Electrochemistry working meeting.
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There is a critical need for the ABML recycling process right now. Only about five percent of all lithium batteries in the world get recycled today. Lithium batteries can be as small as those that power your smartphone or computer. 7000 laptop-sized batteries, all connected, create the necessary power for electric vehicles. Huge cells harness energy from renewables projects like solar and wind farms. Yet it is amazing that so few batteries get comprehensively recycled and reused. ABML recycling plant can be up and operating by the second half of 2020, and will begin to feed a supply chain desperate for new resources to fill global demand for battery metals.
On the $10 million investment CEO Doug Cole stated, “We are pleased to have received this initial investment towards the $10 million strategic investment commitment from Unifinance, an affiliate of VCM Group Pty Limited (“VCM”), our EPC partner. This initial funding coupled with capital raised from our private offering enables us to continue to push forward with our development of lithium-ion battery metals recycling plant in Nevada. Additionally, we continue to pay off and retire all convertible debt prior to maturity and conversion into equity. We have the cash needed to make all pay offs in the future to avoid any further equity dilution from convertible debt. This strategic investment and working closely with VCM enables us to take a major step toward our pursuit within our main areas of focus; lithium-ion battery recycling and its advanced extraction technology. We have assembled a talented team with vast experience in battery metals, state of the art recycling technology, extraction, and resource permitting. The VCM sourced funding provides important resources to realize American Battery Metals Corporation’s vision of becoming the world’s first fully integrated battery metals supply chain provider.”
ABML announced its intention to change its corporate name to American Battery Technology Company in order to better reflect its primary focus and mission. Over the past several months, the Company has readied and positioned itself for its planned lithium-ion battery metals recycling plant in Nevada, with many new hires, including several from Tesla.
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Currently trading at a $37 million market valuation ABML is fully reporting OTCQB and an exciting story developing in small caps – the Company owns land in Railroad Valley, NV as well as a promising an extraction business. But the exciting story on ABML is its rapidly advanced lithium-ion battery recycling system what has moved from technical validation at the laboratory level, to individual pilot equipment optimizations, and now to the implementation of a first-of-kind commercial facility at record pace. The Company just secured a $10 million strategic investment infusion from Unifinance Limited. We will be updating on ABML when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ABML.
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Disclosure: we hold no position in ABML either long or short and we have not been compensated for this article.