Matribhumi Samachar English
Toronto, Ontario–(Newsfile Corp. – March 28, 2025) – Free Battery Metal Limited (CSE: FREE) (Formerly, Titus Energy Corp.) (the “Company” or “Free Battery”), announces that the board of directors of the Company (the “Board”) has approved a consolidation of its issued and outstanding common shares (“Common Shares”) on the basis of one post-consolidated Common Share for every twenty pre-consolidated Common Shares (the “Consolidation”).
The Board has set April 3, 2025, as the effective date of the Consolidation and anticipates the Common Shares to trade on a post-consolidated basis effective April 3, 2025, subject to final confirmation from the Canadian Securities Exchange (the “CSE”). Upon the completion of the Consolidation, the CUSIP and ISIN of the Common Shares will be changed to 356123208 and CA3561232081, respectively. The Company’s name and stock symbols shall remain unchanged.
After giving effect to the Consolidation, the Common Shares will be reduced from 70,112,397 to approximately 3,505,621 Common Shares. No fractional Common Shares will be issued in connection with the Consolidation. Instead, all fractional Common Shares equal to or greater than one-half resulting from the Consolidation will be rounded to the next whole number, otherwise, the fractional Common Share will be cancelled. The exercise price and/or conversion price and number of Common Shares issuable under any of the Company’s outstanding convertible securities will be proportionately adjusted in connection with the Consolidation.
Shareholders of record as of the effective date will receive a letter of transmittal from TSX Trust Company, the Company’s registrar and transfer agent for the Common Shares, providing instructions for the exchange of their Common Shares as soon as practicable following the effective date. Registered shareholders may also obtain a copy of the letter of transmittal by accessing the Company’s SEDAR+ profile at www.sedarplus.ca. Until surrendered, each share certificate or direct registration system statement representing pre-consolidated Common Shares will represent the number of whole post-consolidated Common Shares to which the holder is entitled as a result of the Consolidation. No action is required by beneficial holders to receive post-consolidation Common Shares in connection with the Consolidation. Beneficial holders who hold their Common Shares through intermediaries (e.g., a broker, bank, trust company investment dealer or other financial institution) and who have questions regarding how the Consolidation will be processed should contact their intermediaries with respect to the Consolidation.
About Free Battery Metal Limited
Free Battery Metal Limited is a publicly traded company exploring for Lithium. Free Battery is committed to responsible mining practices and is actively exploring the Mound Lake Property in northwestern Ontario. The property comprises 243, single-cell unpatented mining claims totaling approximately 4,860 hectares. Historically, there has been little or no mineral exploration on or near the Mound Lake Property. The Company sees lithium and other rare metals as critical commodities in supporting the global move towards green technologies including the transition to electric vehicles. For more information, visit www.freebatterymetal.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements under applicable Canadian (“forward-looking statements”). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements relating to statements relating to completion of the Consolidation, and timing and effect thereof.
Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to: the Company completing the Consolidation, and timing and effect thereof. The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in governmental policies and regulations in the jurisdictions in which the Company operates; the Company’s ability to continue to meet the listing requirements of the CSE; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; reliance on key personnel; and risk that the Company will not complete the Consolidation; Please see the other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s latest Management Discussion and Analysis and other filings filed with the Canadian securities authorities, copies of which can be found under Free Battery’s profile on SEDAR+ at www.sedarplus.ca. Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward looking statements contained in this press release are expressly qualified by this cautionary statement.
Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
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