Blackstone Resources AG secure a CHF 30 Million Equity Commitment from GEM Global
Posted Oct 7, 2020 17:19 (GMT +7)
BAAR, Switzerland--(BUSINESS WIRE)--Oct. 06, 2020
Blackstone Resources AG (SWX: BLS) (“Blackstone”) is pleased to announce that it has signed a three-year equity commitment with the Luxembourg- based GEM Global Yield LLC SCS.
The deal will make available up to CHF 30 million for Blackstone to use at its discretion, subject to terms, in its pursuit to commercialize its battery technology and its battery metals. The funding accelerates Blackstone’s development of a commercialy printed battery, to roll out the production in masses, to acquire the plant and equipment key to production and to develop its battery metal investments.
“Blackstone represents the next generation technology of 3D printed batteries with solid state electrolytes and its mass production, “says Ulrich Ernst, CEO of Blackstone. “This financing puts us on the road to realize our vision of battery manufacturing leadership to produce batteries with more density by using the safe and environmentally friendly production-line at lower costs than what is currently available in the market. The structure of the deal gives us tremendous flexibility to support our vision in a timely and cost-effective manner”.
Through this Share Subscription Facility (SSF), Blackstone will issue 2.5 Mio warrant shares with an exercise price of CHF 3.00. This will allow to initiate a necessary capital increase in due course.
GEM Global Yield LLC SCS (“GEM”) is a $3.4 billion alternative investment group with offices in Paris, New York and Los Angeles. GEM manages a diverse set of investment vehicles focused on emerging markets that provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum.
About Blackstone Resources AG
Blackstone Resources AG is a Swiss Holding Company, with its legal domicile in Baar, Kanton Zug, and is concentrating on the battery technology and battery metals market. In addition, it sets up, develops and manages refineries used for gold and battery metals. It offers direct exposure to the battery technology and battery metals revolution that is being driven by the demand of electric vehicles that need vast quantities of these metals. These include cobalt, manganese, graphite, nickel, copper and lithium. In addition, Blackstone Resources has started a research program on new battery technologies on solid state batteries and its production process.
The disclaimer is an integral part of this press release. Please ensure you consult the disclaimer for a full understanding of the content within: http://www.blackstoneresources.ch/investors/disclaimer/
View source version on businesswire.com: https://www.businesswire.com/news/home/20201006005763/en/
For more information please visit www.blackstoneresources.ch or contact:
Blackstone Resources AG
Mrs. Doris Suta
T: +41 41 449 61 63
F: +41 41 449 61 69
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