American Battery Materials Announces Term Sheet for Joint Venture and Stock Purchase with Xantippe Resources - Seite 2

“While closing is subject to completion of our due diligence review and execution of definitive agreements, I am confident we will move to a successful closing. Looking forward, assuming the closing with Xantippe and the closing of our previously-announced proposed business combination with Seaport Global Acquisition II Corp., we believe American Battery Materials will be well positioned as a leading environmentally-responsible minerals exploration and development company, with sustainable growth drivers and comparable differentiation.”

Proposed Business Combination

On June 2, 2023, ABM and Seaport Global Acquisition II Corp. (NASDAQ: SGII) (“SGII”), a publicly-listed special purpose acquisition company, announced the signing of a definitive merger agreement for a business combination (the “Proposed Business Combination”) that will result in ABM becoming a wholly-owned subsidiary of SGII. The combined company is expected to be renamed “American Battery Materials Holdings”, and its common stock and warrants are expected to be listed on the Nasdaq Global Market (“Nasdaq”).

About American Battery Materials, Inc.  
American Battery Materials, Inc., (OTC Pink: BLTH), is a U.S.-based environmentally responsible critical minerals exploration and development company focused on direct lithium extraction (DLE) as well as other minerals for refining, processing, and distribution to support the country’s urgent critical minerals need to bolster long-term energy transition and the electrification of the US domestic and global economy. For more information, visit www.americanbatterymaterials.com. The information contained on, or that may be accessed through, this website is not incorporated by reference into, and is not a part of, this communication.

To receive American Battery Materials, Inc. company updates via email, visit the Contact page of our web site, www.americanbatterymaterials.com/contact.

About Xantippe Resources Limited
Xantippe Resources (ASX: XTC) aims to be a provider of sustainable, high purity battery grade lithium, utilizing new technologies and leveraging strong local partnerships to develop its Carachi lithium brine project in Argentina, located in the heart of the “Lithium Triangle” of Argentina.​

About Seaport Global Acquisition II Corp.
Seaport Global Acquisition II Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Although SGII’s efforts to identify a prospective business combination opportunity will not be limited to a particular industry, it intends to focus on companies undergoing transformational, transitional, or reorganizational business strategies.