Global Battery Metals Announces Completion of Settlement for Leinster Lithium Project
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Vancouver, British Columbia – April 2, 2025 – TheNewswire – Global Battery Metals Ltd. (the “Company” or “GBML”) (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ), an international critical mineral exploration company focused on growth-oriented lithium, copper and battery metal projects, announces that further its news release of November 25, 2024, termination of the mutual obligations under an original letter of intent on October 28, 2018, the first amendment dated April 16, 2020, and the second amendment dated August 15, 2022 (together, the “LOI”) between the Company, LRH Resources Limited (“LRHR”) and Technology Minerals PLC (“TM1”), the parent company of LRHR is now complete, in accordance with the terms of the Settlement Agreement entered into between the parties dated as of October 11, 2024.
The Company is in receipt of an aggregate of 255,926 fully paid shares of Critical Metals Corp., a company listed on NASDAQ under security symbol ‘CRML’ (the “Consideration Shares”) and GBML’s interest in the Leinster Lithium Project (the “Project” or the “Property”) in Ireland has now been deemed transferred to LRHR.
The Company’s outstanding exploration expenditures in the amount of €377,327.29 (the “GBML Payable”) were also settled in Consideration Shares which were issued directly to the creditors. For clarity, the Consideration Shares paid to GBML were net of satisfying the GBML Payable.
About Global Battery Metals Ltd.
GBML is an international mineral exploration and development company with a focus on lithium, copper and other metals that comprise and support the rapid evolution to battery power. GBML currently maintains economic interests in two battery metal projects: (1) a 100% interest in the drill-ready Lithium King Property in Utah; and (2) a 55% stake in Peru-based Lara Copper Property, which has over 10,000 metres of drilling. As previously disclosed, Minsur S.A., a Peruvian mining company, entered into an option agreement with GBML and Lara Exploration Ltd. to acquire the Lara copper property for staged payments of USD$5.75 million. GBML will retain a 0.75% net smelter return royalty. GBML’s common shares are listed on the Exchange (TSXV: GBML); Frankfurt Stock Exchange (FSE: REZ); and are quoted on the OTC Markets (OTCQB: REZZF).
Global Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
T: 604-649-2350
W: www.gbml.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things, among other things, exploration plans for the Company’s various projects. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to obtain required shareholder and regulatory approvals. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Readers are urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
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