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American Battery Metals wins commitment for $10M capital investment; shares jump – Proactive Investors USA & Canada

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American Battery Metals Corporation (OTCMKTS:ABML) announced Wednesday it has received a promise for a $10 million capital investment. 

Following the news, the company’s stock jumped 21% to $0.13 a share in New York. 

In a statement, CEO Doug Cole said the Nevada battery recycling and production company got the commitment for the equity financing from Newood Finance Solutions Limited, a Fiji corporation doing business as Unifinance Limited, which is an affiliate of VCM Group Pty Limited, American Battery Metals’ Engineering, Procurement, and Construction (EPC) partner. 

READ: American Battery Metals CEO touts benefits of lithium-ion battery recycling

The investment is in the form of a purchase of American Battery Metals’ Series B preferred stock, which is convertible into common stock at a fixed price of $0.25 per share. And Unifinance has irrevocably committed to fund the entire amount of the investment prior to April 19, Cole said.

The company intends to use the investment proceeds to eliminate a portion of its convertible debt, construction of a new, scalable battery recycling plant in Nevada, (which is scheduled to be fully operational in late 2020), and general working capital needs.

“This strategic investment is a major step toward attaining the company’s goals of eliminating approximately $2.5 million of convertible notes, gaining profitability, a healthier balance sheet and uplisting to a major exchange in 2020. Elimination of outstanding convertible debt shall allow the stock to trade on its own merits,” Cole said. 

VCM Director Michael Vogel commented: “We are truly pleased to partner with American Battery Metals Corporation, not just because it is a fast-moving, leading-edge technology company, but also because we are excited to be a part of the accelerated development of the company’s lithium-ion battery recycling facility. The American Battery Metals Corporation recycling process will address a global e-waste challenge, while reintroducing critically-needed materials back into the supply chain for the electric vehicle and energy storage sectors.”

With this new funding commitment, American Battery Metals said it is well-positioned to pursue its main areas of focus — lithium-ion battery recycling and its advanced extraction technology. 

The company has assembled a talented team with vast experience in battery metals, state-of-the-art recycling technology, extraction, and resource permitting. 

The VCM sourced funding provides important resources to realize American Battery Metals Corporation’s vision of becoming the world’s first fully integrated battery metals supply chain provider, the company added.

Headquartered in Incline Village, Nevada, American Battery Metals is a lithium resource exploration and development company, which operates a mining project in the state’s Railroad Valley. The company’s goal is to become a top supplier of battery metals to America’s electric vehicles and battery storage markets and also to develop an effective battery recycling program.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

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"I lived in the GTA for 44 years": Why an associate investment advisor swapped Toronto for Pelham – Toronto Life

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“I lived in the GTA for 44 years”: Why an associate investment advisor swapped Toronto for Pelham

Who she is: Gail Taylor, 62, associate investment advisor turned receptionist
Where she lived in Toronto: A one-bedroom condo near Yonge and Eglinton
Where she lives now: A two-storey, two-bedroom townhouse in Pelham, in the Niagara region

Gail: I grew up on a dairy farm in Clifford, Ontario, which is about an hour’s drive from Kitchener. At 15, I came to Toronto for the first time with a friend. My brother was studying at George Brown, so we went to visit him and to see Alice Cooper perform at Varsity Stadium. Coming from a small town, it was a bit of a shock—but I loved the excitement. Two years later, in 1974, I decided to move to the city. Shortly after, I met my future husband and, when I was 18, we got married in a small church during a bad blizzard. It was just before Christmas in 1975. Our daughter, Jenny, was born a couple years later.

In 1989, we bought a bungalow in Burlington for roughly $200,000. When Jenny was young, I took a job at a temp agency. I got an assignment with RBC and they eventually asked me to stay on, so I got my broker’s licence. That’s how I ended up becoming an associate investment adviser. My husband and I split up in 1996, but it was a friendly divorce. Around the same time, my daughter left to study psychology at Western University. I’d been taking the GO Train into Toronto for work, and I was sick of the commute, so I decided it was time to move back to the city. I rented a one-bedroom apartment at Yonge and Eglinton for roughly $650 a month. I really liked the area. It’s not the nitty-gritty of downtown, but it’s within walking distance. I enjoyed going to movies and grabbing food at Chick’N’Deli.

One day, in 2001, I was walking to yoga along Mount Pleasant, and I saw a sign for some condos. Before I knew it, I was in the showroom and I’d bought a pre-construction one-bedroom apartment for $187,000. In 2003, I finally moved in. It was a brick building with a gym and a party room. My unit was on the ground floor.

After university, Jenny got married and  moved to the Pelham area with her husband, and, in 2006, my granddaughter Olivia was born. Jenny had two more kids, Emma and Marco, shortly after. That’s when I started to get a twinge to be around my family. I would take the GO Train out to visit them, because I don’t have a car, and I’d always feel sad on the ride home. I had plenty of friends in Toronto, but after my sister passed away in 2016, I knew I needed to be closer to my loved ones. I wanted more balance, too. My life was basically rushing down to the subway, working, then going home. And while the street-level apartment was fine when I bought it, over the years, the road got much busier and noisier.

Then I got lucky. My daughter and her husband found me a two-storey, two-bedroom brick townhouse in Pelham for $220,000. They took care of the renovations while I stayed in Toronto. They put in new tiles and carpets, and replaced one of the ceilings. That cost me an additional $20,000. When I sold my Toronto apartment for more than $500,000, in early 2018, that helped cover the cost of the house, along with the renovations. The rest of the money went toward savings. After I moved out to Pelham, I still worked in the city a few days a week, either commuting on the Go Train or staying at a friend’s place. In late 2018, I got a part-time job at a retirement home near my place, mostly doing administrative stuff. I’ve gone from a full-time salary as an investment advisor to a part-time hourly wage, but it’s exactly what I wanted: very social, very nice, none of the hustle and bustle. I walk out of my house at 8:30 a.m and I’m at work in about 10 minutes.

Life is great. My neighbours are really nice. I like to hang out on my patio, where I can feed the chipmunks and squirrels, while the blue jays twitter in the trees. I even saw a bunny the other night. Back in Toronto, the most wildlife I got was a couple of racoons fighting. I haven’t been back in months. I do miss things, though, like taking a stroll on a long sidewalk. I’m a huge walker. My friends and family are always asking, “Where did you walk today?” It’s the perfect time to think and just observe nature. In Toronto, I particularly liked gawking at all of the old architecture. I also miss the hot dog vendors, the ROM, the AGO. I used to be able to step out the door to a small indie movie theatre. That kind of cultural experience is available in Pelham, but you have to work a little harder to find it.

The best thing about living here is that I get to see my grandkids a few times a week. My daughter and her husband live on a farm just outside of town. I can watch Marco, who’s 9, play hockey. Or when Emma and Olivia, who are 12 and 13, have ballet or gymnastics, I can cheer them on. During the school strike days, I’ve been helping take care of the kids. I sometimes sleep over on weekends. It’s like I finally get to be a full-time grandma.

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Many employers investing less than 5 per cent on digital tech: survey – Canadian HR Reporter

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Companies are overlooking quick wins that are comparatively easy to implement, such as cloud services, while others struggle to achieve the integration needed to realize the full potential of data, says KPMG. As well, many seem to have dismissed the opportunities and insights that big data can offer. The survey findings revealed that only one in five (21 per cent) are actively leveraging data analytics.

Robotics and M2M capabilities can speed up production, while IoT facilitates predictive maintenance, reduced downtime and costs and it provided greater visibility into production and delivery, says the report.

“Companies should already be investing in IoT-compliant technology, especially to connect their legacy equipment,” says KPMG’s Yvon Audette, COO, management consulting services. “It’s fast becoming a baseline requirement for companies in these capital asset-intensive sectors; those that fail to invest in IoT will quickly fall behind.”

Although slow in the past to invest in digital technologies, close to half of the industrial companies surveyed by KPMG planned to implement intelligent automation and IoT technologies within the next three years.

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SEC reportedly probing Altria's Juul investment – CNBC

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Juul brand vape cartridges are pictured for sale at a shop in Atlanta, Georgia.

Elijah Nouvelage | Reuters

The Securities and Exchange Commission has launched an investigation into Altria’s investment in e-cigarette start-up Juul Labs, the Wall Street Journal reported on Friday.

Regulators are examining whether the tobacco company sufficiently disclosed to shareholders the risks when it invested $12.8 billion for a 35% stake in Juul in 2018, sources told the Journal. Altria’s stake valued the start-up at $38 billion.

Altria took a $4.1 billion impairment charge for its investment in Juul in January. The company said the charge reflects the growing legal charges against Juul and the expectation that the number of lawsuits will only increase. Juul is being sued by multiple states for its role in promoting vaping among teens and children.

Juul and Altria have both responded to subpoenas from the SEC, sources told the Journal. The e-cigarette maker turned over documents to the SEC that included correspondence with Altria and financial projections that it gave to Altria prior to its decision to invest in Juul, one person said to the Journal.

When reached by CNBC, Altria declined to comment. Juul did not immediately respond to CNBC’s request for comment.

Read more about the investigation in the Journal’s report.

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