American Battery Materials Inc (BLTH)

[Werbe]

Asset Sale

On March 18, 2019, the Company approved of an asset sale of certain assets of the legacy MiniMelts business and operation for $350,000 in cash, which was approved by a majority of shareholders. In 2018, MiniMelts sales accounted for approximately $1,100,000 in revenue. Part of the proceeds from the sale will be used to retire certain lease obligations as well as for general operating purposes.

The Company will continue to pursue sales of MLB ice cream under the Major League Baseball license and additionally, leverage its vending assets to pursue new revenue streams and test concepts for new offerings at retail.

The Board of Directors has agreed to begin to explore the development of certain products in the cannabis industry with a focus on non-THC Cannabinoids in frozen desserts as well as other complimentary CBD product offerings though vending as well as online sales and direct to retail, under a new brand.