June 28, 2024

3 min read

Coniagas Announces Private Placement

Published in 2024

Coniagas Announces Private Placement

The Company announces that it will effect a non-brokered private placement of a maximum of 5,000,000 units at a price of $0.12 per unit for maximum gross proceeds of $600,000. Each unit will be comprised of one common share and one-half of a common share purchase warrant. Each full warrant will entitle the holder thereof to purchase one additional common share at a price of $0.15 for two years from the date of issuance.

Coniagas will use the net proceeds from the private placement primarily for exploration on the Graal property as well as for metallurgical test work and working capital.

In connection with the private placement, Coniagas will pay a cash finder’s fee in an amount equal to 7% of the proceeds from subscribers identified by finders and will issue warrants to finders in an amount equal to 7% of the number of units issued to subscribers identified by them. Each of the finder’s warrants will entitle its holder to purchase one additional common share of Coniagas at a price of $0.15 for two years from the date of issuance.

Coniagas expects to hold a first closing of the private placement on or before July 11, 2024. The private placement is subject to final approval by the TSX Venture Exchange.

Coniagas Battery Metals: Leading in Critical Metals Supply

Coniagas Battery Metals Inc., a Canadian junior mining company, focuses on nickel, copper, cobalt, and platinum group metals in Québec. The company's strategy aims to generate shareholder value by developing its mineral assets and constructing an advanced processing plant, positioning Coniagas as a key supplier for the electric vehicle (EV) industry.

Graal Project: Strategic Resource Development

The 100% owned Graal project near Saguenay, Quebec, has shown significant potential through extensive geophysical surveys and shallow drilling. It has identified high-grade nickel and copper mineralization, with showings of cobalt, platinum, and palladium. The confirmed 6 km strike length of the project supports plans for an open-pit mining operation. Upcoming activities include further drilling, metallurgical testing, and consultations with First Nations, culminating in a NI 43-101 resource report. The NI 43-101 Technical Report Graal Nickel & Copper Project, Saguenay-Lac-St-Jean, Quebec, Canada, dated January 17, 2024, provides detailed project information.

Feed First Strategy and Offshore Developments

Implementing a “Feed First” strategy, Coniagas is securing reliable and long-term feed contracts. These contracts are crucial for building strong relationships with downstream partners in the battery manufacturing and high technology sectors. By locking in these agreements early, the company aims to secure a first-mover advantage, ensuring rapid market entry. To support this strategy, Coniagas is developing high-grade cobalt and copper stockpiles offshore, collaborating with experienced brokers to ensure ethical sourcing. Additionally, the company is working with Investissement Québec and SGS Quebec to optimize feed and construct an advanced processing plant.

Long-Term Vision and Commercialization Strategy

Coniagas leverages proprietary technologies like the Re-2Ox hydrometallurgical process for the extraction and production of cleaner, low-carbon, battery-grade materials. This innovative process eliminates the need for traditional smelting, significantly reducing the environmental footprint. Combined with strategic projects such as Graal and Offshore Stockpiles, Coniagas is positioning itself as a key player in the future of the EV industry. For more information, visit the Company’s website.

“Frank J. Basa”

Frank J. Basa, P. Eng., Order of Engineers Ontario Chief Executive Officer For further information, contact:

Frank J. Basa, P. Eng. Ontario Chief Executive Officer 416-625-2342 or:

Wayne Cheveldayoff, Corporate Communications P: 416-710-2410 E: [email protected]

You can follow Coniagas on Social Media:

LinkedIn | X (Twitter) | Facebook

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements This news release may contain forward-looking statements regarding Coniagas Battery Metals Inc. (“Coniagas” or the “Company”) which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address the private placement referred to above, resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. No assurance can be given that any of the foregoing will be achieved. In particular, Coniagas cannot give any assurance that it will be able to complete the private placement referred to above, either in whole or in part. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. The Company does not undertake to update any forward-looking information in this news release or other communications unless required by law.


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