Quantum Battery Readys Portfolio for Investment
Vancouver, November 3, 2022 - Quantum Battery Metals Corp. (CSE: QBAT) (OTC Pink: BRVVF) (FSE: 23B0) ("Quantum" or the "Company") announces that management has received several proposals from third parties to provide additional financing to the Company. Due to the increased demand of electric vehicles and technology requiring lithium batteries and the influx of interest in Quantum, the Company has begun the process of budgeting development and expansion of their current and possible future assets. The Company currently has six properties with EV metals that are thoroughly being explored, but with possible further funding could receive more robust exploration plans.
The shortages of electric battery raw materials especially from domestic sources is significant. The Democratic Republic of the Congo (DRC) is the world's largest producer of cobalt and holds more than 50 percent of the global cobalt reserves. Cobalt is used in lithium-ion batteries that form an integral part of electric automobiles, mobile phones and laptop computers. Demand for cobalt is expected to rise significantly over the coming years. Many manufacturers prefer to receive their supply from North America which is deemed to be a stable jurisdiction. All of Quantum's properties are located in Canada.
"With possible significant funding on the horizon we are evaluating our current portfolio's needs and looking at possible situations to expedite development of our properties. We have overseen exploration programs and will likely be able to increase further development of our assets. Furthermore, with additional funding the acquisition of further Lithium and Cobalt Properties will likely occur as we look to take a significant piece of the region," states Marc Momeni, Chief Executive Officer.
"Marc Momeni"
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Marc Momeni, CEO and Director
Contact Information:
400 - 837 West Hastings Street
Vancouver, British Columbia
V6C 3N6
Phone: 604.629.2936
Email: Info@quantumbatterymetals.com
Forward-Looking Information This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Quantum Battery Metals Corp. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/142990