11:47 AM EDT, 07/12/2024 (MT Newswires) -- Patriot Battery Metals ( PMETF ) on Thursday said it filed a preliminary short form base shelf prospectus in all Canadian provinces.

The company said it has no immediate plans to issue securities under the base shelf prospectus and may never do so. However, it is expected to provide Patriot with greater financial flexibility by allowing it to offer and issue common shares, debt securities, and other securities for up to $250 million during the 25-month period.

"Following the C$75 million flow-through financing completed in May, Patriot remains extremely well-funded through the current cycle," chief executive Ken Brinsden said.

The company's current balance sheet position supports the delivery of the 2024 summer-fall work program, a resource update in August, the completion of a preliminary economic assessment in September and a feasibility study by the September quarter of 2025.

Patriot Battery Metals ( PMETF ) shares were last seen up $0.36 to $5.32 on the Toronto Stock Exchange.

Price: 5.32, Change: +0.36, Percent Change: +7.26