United Battery Metals Announces Closing of Private Placement and Warrant Exercises

Vancouver, British Columbia (FSCwire) - Further to its news release of August 10, 2018, United Battery Metals Corp. (CSE: UBM, OTC: UBMCF, FWB: 0UL) (“United Battery Metals” or the “Company”) announces the closing of its non-brokered private placement financing (the “Financing”) of 3,762,750 Units (the “Units”), each issued at a price of $0.40 for aggregate gross proceeds of $1,505,100.

Each Unit consists of one common share in the capital of the Company (a “Common Share”) and one-half of one Common Share purchase warrant, whereby each whole Warrant (a “Warrant”) is exercisable for one Common Share at a price of $0.60 per share for a period of 12 months from the date of issuance. 

In connection with the Financing, the Company has paid cash finders’ fees to certain finders totaling $35,430 and issued a total of 88,575 finders’ warrants (each a “Finder’s Warrant”). Each Finder’s Warrant is also exercisable into one Common Share at an exercise price of $0.60 per Common Share for a period of 12 months from the date of issuance. 

The net proceeds from the Financing are to be used for continued exploration of the Company’s Wray Mesa vanadium property and for general and administrative expenses. The securities issued pursuant to the Financing (and any securities issued upon the exercise thereof) are subject to a hold period which will expire four months and one day from the date of closing of the Financing. 

The Company further announces that 5,085,018 warrants with various expiry dates have been exercised during the current quarter generating proceeds to the Company of $579,776.80.  

ON BEHALF OF THE BOARD OF

UNITED BATTERY METALS CORP. 

/s/ Matthew Rhoades 

Matthew Rhoades 

Chief Executive Officer and Director 

For further information, please telephone: (604) 428-9063 

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release. 

Cautionary Statement Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws, including statements relating to the Company’s use of proceeds from the Financing and the outlook of the business of the Company. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this news release are made as of the date of this release. Except as required under applicable securities legislation, the Company undertakes no obligation to update or revise forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.

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