ACCESS Newswire
12 Aug 2022, 03:08 GMT+10
OTTAWA, ON / ACCESSWIRE / August 11, 2022 / Braille Energy Systems Inc. (TSXV:BES) ('Braille' or the 'Company') is pleased to announce the closing of its sale of the Romer Property to Stria Lithium Inc. ('Stria') effective August 11, 2022. As consideration for the sale of the Property, Braille received (i) cash in the amount of $125,000; (ii) 750,000 common shares of Stria issued at a deemed price of $0.50 per share on a post-consolidated basis; and (iii) a net smelter royalty of 1% ('NSR'). The NSR is subject to the option (the 'Partial NSR Buyout Option') by Stria to purchase 50% of the NSR such that the NSR is reduced from 1.0% to 0.5%. The Partial NSR Buyout Option may be exercised at any time by Stria for consideration of $500,000 payable in cash or stock or a combination thereof at Stria's discretion.
About Braille Energy Systems Inc.
Braille Energy Systems Inc. holds an 89.95% equity interest in Braille Holdings Inc., which holds a 100% equity interest in Braille Battery Inc. Braille Battery is an established battery-manufacturing and energy storage company supplying batteries to the professional motor sports industry and the pioneer of a complete line of lightweight high powered battery systems for the transportation market. Braille Energy Systems (BESI) will expand its market penetration into a wider range of market segments that require lightweight, high-performing energy solutions, using the most scientifically advanced materials.
For additional information about BESI and Braille Battery products, please visit our website at: www.brailleenergysystemsinc.com or www.braillebattery.com.
Forward-Looking Statement
This News Release contains 'forward-looking information' within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business and operations and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this News Release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
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 accuracy of this release.
For more information on Braille Energy Systems Inc., please contact:
Kimberly Darlington
Communications, Braille Energy Systems Inc.}
[email protected]
514-771-3398
Judith T. Mazvihwa-MacLean
CFO, Braille Energy Systems Inc.
[email protected]
613-581-4040
SOURCE: Braille Energy Systems Inc
Get a daily dose of Vancouver Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Vancouver Star.
More InformationWASHINGTON, D.C.: This week, U.S. Supreme Court justices seemed open to letting fuel companies challenge California's strict vehicle...
WASHINGTON, D.C.: The Trump administration announced this week that it will create a fast-track approval process for energy and mining...
JERUSALEM - More than 80 ambassadors and heads of mission from across the world were addressed by Israeli Prime Minister Benjamin Netanyahu...
WASHINGTON, D.C.: U.S. lawmakers are turning up the heat on China's biggest telecom firms, issuing subpoenas to compel their cooperation...
BRUSSELS, Belgium: European pharmaceutical companies are pushing for higher drug prices across the EU, warning that current pricing...
WASHINGTON, D.C.: A nuclear power plant in Michigan is hoping to become the first in the U.S. to restart after being permanently shut...
WASHINGTON, D.C.: The United States and India are advancing talks on a wide-ranging trade agreement that would cover 19 key areas,...
TOKYO, Japan: Toyota's overseas sales surged to a new March record, driven largely by a rush of North American buyers ahead of newly...
NEW YORK, New York - Uncertainty about trade negotiations between the United States and China kept investors and traders on edge Monday...
WASHINGTON, D.C.: Sales of new single-family homes in the U.S. rose more than expected in March as buyers rushed to take advantage...
SHANGHAI, China: BMW is set to incorporate artificial intelligence from Chinese startup DeepSeek into its upcoming vehicle models in...
Hong Kong: Cathay Pacific Airways is preparing for a slowdown in air cargo traffic between China and the United States as new trade...