M3 Metals closes Texas Springs sale

Executive Summary

• M3 Metals Corp. closed its agreement to sell the remaining 50 % interest in the Texas Springs lithium claims to Surge Battery Metals Inc., receiving 1.2 million Surge Battery common shares as consideration.
• The transaction amends and supersedes the July 2023 mineral‑property option/joint‑venture agreement, extending the original June 30 2025 closing deadline to August 30 2025 (now satisfied).
• Completion of the sale further consolidates Surge Battery’s control over the Texas Springs claims, aligning with its Nevada North lithium project strategy.

Key Details

• Transaction Structure: Sale of 50 % ownership in Texas Springs mineral claims; consideration paid in 1.2 million common shares of Surge Battery Metals Inc.
• Original Agreements: July 26 2023 option and joint‑venture agreement granting Surge Battery an option to earn up to 80 % interest in 253 contiguous claims.
• Amended Purchase Agreement (August 2024): Replaced the original option agreement; required exchange approval; contained a “closing by” date of June 30 2025, later extended to August 30 2025.
• Closing Date: Transaction closed on the announced date (June 2025‑Aug 2025 window), finalizing the transfer of the remaining 50 % interest.
• Share Consideration Valuation: 1.2 million Surge Battery common shares issued to M3 Metals; no cash component disclosed.
• Strategic Impact: Provides Surge Battery with full (or majority) control over Texas Springs claims, enhancing its lithium resource base adjacent to the Nevada North project.

Notable Quotes

(No direct quotes were provided in the release.)