Patriot Battery Metals Denies Reports That It Is Seeking A Sale

Patriot Battery Metals (TSXV: PMET) issued a clarifying statement this morning related to a story issued by The Australian, which suggested that the company is looking at a potential sale.

The story itself suggests that the company has engaged with Macquarie Capital to discuss potential sale arrangements, which follows reports in February that the company had seen interest from Rio Tinto, Mineral Resources, and Pilbara Minerals among other names.

Notably Ken Brinsden, non-executive chairman of Patriot, is formerly of Pilbara Minerals.

In response to the report, Patriot clarified that it has “not commenced a process” with regards to initiating a sale of its assets, or itself. The company however did not deny that it has engaged Macquarie Capital, instead stating that it has appointed “a range of advisors and key personnel” to support the development of the Corvette property, and that it remains focused on the development of the property.

READ: Patriot Battery Metals Demobilizes Exploration Programs At Corvette Due To Wildfires

Pilbara Minerals meanwhile is also reported to have engaged Macquarie Capital, with banker John Stanning from the firm also serving as chief development officer of the company. CEO Dale Henderson meanwhile has not ruled out interest in acquiring Patriot.

Patriot Battery Metals last traded at $15.85 on the TSX Venture.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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