Battery X Metals Announces Closing of First Tranche of Private Placement to Advance Corporate Growth

VANCOUVER, BC / ACCESS Newswire / June 5, 2026 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:5YW0, WKN:A41RJF) ("Battery X Metals" or the "Company") an energy transition resource exploration and technology company, announces that, further to its news release dated May 22, 2026, the Company has closed the first tranche (the "First Tranche") of its previously announced non-brokered private placement (the "Private Placement"), through the issuance of 218,182 units of the Company (each, a "Unit") at a price of $2.75 per Unit, for aggregate gross proceeds of $600,000.50. Each Unit consists of one common share in the capital of the Company (each, a "Share") and one transferable common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to acquire one additional Share (each, a "Warrant Share") at an exercise price of $3.00 per Warrant Share, exercisable until June 5, 2028.

The net proceeds of the Private Placement are intended to be allocated toward advancing the Company's business initiatives, including expenses related to corporate development and regulatory matters in connection with strategic capital markets initiatives, the payment of outstanding and future payables and indebtedness, corporate awareness initiatives, and general working capital purposes. These proceeds are expected to support the Company's integrated 360° strategy across the battery metals value chain, encompassing exploration, rebalancing, and recycling, and the continued advancement of next-generation solutions that contribute to the global clean energy transition. The securities issued under the Private Placement will be subject to a statutory hold period expiring October 6, 2026.

The remaining portion of the Private Placement is expected to close, in whole or in part, in one or more additional tranches on or before June 30, 2026, subject to compliance with the policies of the Canadian Securities Exchange.

In connection with the closing of the First Tranche, the Company paid aggregate cash finder's fees of $1,443.75 to an arm's length party.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.

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