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VANCOUVER, British Columbia, Sept. 30, 2021 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTCQB: RGDCF) (FSE: R9GA) wishes to make the following statements regarding recent market activity concerning its common shares (the “Common Shares”) traded on the OTCQB marketplace.
On September 27, 2021, the Company was informed by OTC Markets of several promotional materials that presented a general overview of the Company and the lithium mining industry, recent press releases regarding its drilling operations and encouraged investors to purchase or trade the Company’s Common Shares. The Company believes that the promotion may have had some impact on market activity, but that a recent stock price increase and trading activity are due primarily to the Company’s news released on September 16 and September 23, 2021 related to its drilling program.
The promotional materials present an overview of the Company that appears based largely on information extracted from the Company’s website, public filings, or in prior press releases. It contains some speculative language and forward-looking statements about investment potential, but the Company does not believe it contains any materially false or misleading statements about the Company. The Company engaged JWC Marketing Awareness Group Inc. (“JWC”) on August 15, 2021 for the purpose of corporate marketing and investor awareness. The Company acknowledges it had editorial control over some of the promotional material referenced above but not all of them, and some of the promotional materials were directly procured or paid for by the Company, while it does not recognize the others, however, the Company acknowledges that it may have indirectly contributed to the creation and distribution of such material due to its engagement of JWC.
To the Company’s knowledge, except as mentioned above, neither the Company’s management, officers, directors, or any controlling shareholders, or any third-party service providers have, directly, or indirectly, been involved in any way (including payment to a third party) with the creation, distribution, or payment of promotional materials related to the Company and its security.
Since September 30, 2020, the Company has engaged the following third-party providers for investor relations, public relations, marketing or other related services: Stockhouse Publishing Ltd., Resource Stock Digest, JWC Market Awareness Group Inc., Flathead Business Solutions, LLC (dba Tamarack Advisors).
Upon inquiry of management, directors, control persons and third-party service providers, during the past 90 days, no such persons have purchased or sold the Company’s securities.
The Company completed the following private placements at prices constituting a discount to the then current market prices at the time of issuance: July 17, 2020, 8,040,000 common shares at $0.075 per share; August 26, 2020, 3,000,000 at $0.12 per share; and June 30, 2021, 23,182,000 common shares at $0.16 per share.
About Patriot Battery Metals Inc.
Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral projects containing battery, base and precious metals.
The Company’s flagship assets are the wholly owned Corvette Property and the FCI Property (held under Option from O3 Mining Inc.) located in the James Bay Region of Québec, and the 100% owned Freeman Creek Gold Property, located in Idaho, USA.
The Corvette-FCI Property includes the wholly owned Corvette claim block, and the FCI East and West claim blocks held under Option from O3 Mining Inc. The claim blocks are contiguous, and host significant gold-silver-copper-PGE-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
The 100% owned Freeman Creek Gold Property hosts two major advanced targets - the Gold Dyke Prospect with a 2020 drill hole intersection of 4.11 g/t Au and 33.0 g/t Ag over 12 m, and the Carmen Creek Prospect with surface sample results including 25.5 g/t Au, 159 g/t Ag, and 9.75% Cu.
In addition, the Company holds the Pontax Lithium-Gold Property, QC; the Golden Silica Property, BC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
On Behalf of the Board of Directors,
Disclaimer for Forward-Looking Information
Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release