Surge Battery closes $5-million private placement

Mr. Greg Reimer reports SURGE BATTERY METALS CLOSES FULLY SUBSCRIBED NON-BROKERED LIFE OFFERING Surge Battery Metals Inc. has closed its fully subscribed non-brokered private placement offering (the listed issuer financing exemption offering), issuing 20 million units at a price of 25 cents per offered unit, raising aggregate gross proceeds of $5-million. Each offered unit comprises one common share of the company and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at an exercise price of 40 cents until Oct. 8, 2028. The LIFE offering was completed pursuant to the listed issuer financing exemption available under Part 5A of National Instrument 45-106 (Prospectus Exemptions), and, accordingly the common shares, the warrants and the common shares issuable on exercise of the warrants are free trading. The company filed an amended and restated offering document relating to the LIFE offering on Oct. 7, 2025, which can be accessed under the company's profile at SEDAR+ and at the Surge Battery website. On closing, the company paid aggregate finders' fees of $264,650 and issued an aggregate of 1,058,600 finders' warrants, with each finder's warrant exercisable for one common share at a price of 25 cents until Oct. 8, 2028. The finders' warrants and the common shares issuable thereunder are subject to a four-month hold period expiring Feb. 9, 2026, in accordance with applicable Canadian securities laws. As disclosed in the amended offering document, the company will use the net proceeds from the LIFE offering for general working capital and to finance the company's exploration of the Nevada North lithium project through to the prefeasibility study stage and into the bankable feasibility study stage. About Surge Battery Metals Inc. Surge Battery Metals, a Canadian-based mineral exploration company, is at the forefront of securing the supply of domestic lithium through its active engagement in the Nevada North lithium project. The project focuses on exploring for clean, high-grade lithium energy metals in Nevada, United States, a crucial element for powering electric vehicles. With a primary listing on the TSX Venture Exchange in Canada and the OTCQX market in the U.S., Surge Battery is strategically positioned as a key player in advancing lithium exploration. We seek Safe Harbor.