Battery X Metals Announces Closing of First Tranche of Private Placement Financing

VANCOUVER, BC / ACCESS Newswire / October 6, 2026 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:5YW0, WKN:A41RJF) ("Battery X Metals" or the "Company") an energy transition resource exploration and technology company, announces that, further to its news release dated September 22, 2026, the Company has closed the first tranche (the "First Tranche") of its previously announced non-brokered private placement (the "Private Placement"), through the issuance of 101,000 units of the Company (each, a "Unit") at a price of $2.40 per Unit, for aggregate gross proceeds of $242,400 Each Unit consists of one common share in the capital of the Company (each, a "Share") and one transferable common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to acquire one additional Share (each, a "Warrant Share") at an exercise price of $2.50 per Warrant Share, exercisable until October 6, 2028.

The net proceeds of the Private Placement are intended to be allocated toward corporate awareness initiatives. The securities issued under the Private Placement will be subject to a statutory hold period expiring February 7, 2027.

The remaining portion of the Private Placement is expected to close, in whole or in part, in one or more additional tranches on or before November 6, 2026, subject to compliance with the policies of the Canadian Securities Exchange.

In connection with the closing of the First Tranche, the Company paid aggregate cash finder's fees of $2,160 to registered dealers.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.

About Battery X Metals Inc.

Battery X Metals (CSE:BATX)(OTCQB:BATXF)(FSE:5YW0, WKN:A41RJF) is an energy transition resource exploration and technology company committed to advancing domestic battery and critical metal resource exploration and developing next-generation proprietary technologies. Taking a diversified, 360° approach to the battery metals industry, the Company focuses on exploration, lifespan extension, and recycling of lithium-ion batteries and battery materials. For more information, visit batteryxmetals.com.

On Behalf of the Board of Directors

Massimo Bellini Bressi, Director

For further information, please contact:

Massimo Bellini Bressi
Chief Executive Officer
Email: mbellini@batteryxmetals.com
Tel: (604) 694-9823

Disclaimer for Forward-Looking Information

This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this release include, but are not limited to, statements relating to: the completion of the remaining portion of the Private Placement, in whole or in part, in one or more additional tranches on or before November 6, 2026; compliance with the policies of the Canadian Securities Exchange in connection with such additional closings; the intended allocation of the net proceeds of the Private Placement toward corporate awareness initiatives; and the Company's plans to advance domestic battery and critical metal resource exploration and develop proprietary technologies for the lifespan extension and recycling of lithium-ion batteries and battery materials. Forward-looking information is based on management's current expectations, estimates, assumptions, and projections as of the date of this news release, including assumptions regarding sufficient investor participation, favourable market conditions, compliance with applicable regulatory and exchange requirements, and the availability of financial and operational resources to advance the Company's business initiatives. Such information is subject to a number of known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, without limitation: the risk that the remaining portion of the Private Placement may not be completed within the anticipated timeframe or at all; the risk that applicable regulatory or exchange requirements may not be satisfied in a timely manner or at all; changes in market conditions and capital markets; the Company's ability to utilize the net proceeds as intended; changes in the Company's priorities and capital requirements; the Company's ability to execute its business strategy and advance its exploration, battery lifespan extension, recycling, and technology development initiatives; and general economic, financial, and geopolitical conditions. Forward-looking information is not a guarantee of future performance and reflects management's expectations only as of the date hereof. There can be no assurance that the remaining portion of the Private Placement will be completed as proposed, or at all, that the net proceeds will be allocated as intended, or that the Company will achieve its anticipated business objectives. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise. Readers are cautioned not to place undue reliance on forward-looking information and are encouraged to review the Company's continuous disclosure filings available under its profile on SEDAR+ for additional risk factors and further information.

SOURCE: Battery X Metals

View the original press release on ACCESS Newswire