Surge Battery Metals Closes Fully Subscribed Non-Brokered LIFE Offering

Executive Summary

• Surge Battery Metals Inc. closed a fully‑subscribed non‑brokered private placement (“LIFE Offering”) issuing 20,000,000 units at $0.25 per unit, generating $5,000,000 in gross proceeds.
• Each unit consists of one common share and one warrant to purchase an additional share at $0.40 (exercisable until Oct 8 2028).
• Net proceeds are earmarked for general working capital and to advance exploration of the Nevada North Lithium Project through pre‑feasibility and bankable feasibility studies.

Key Details

• Units Offered: 20,000,000 units at $0.25 each → $5,000,000 gross proceeds.
• Unit Composition: 1 common share + 1 common‑share purchase warrant (exercise price $0.40, expiry Oct 8 2028).
• Finder Compensation: Aggregate finder’s fees of $264,650 paid; issuance of 1,058,600 finder’s warrants (each for one common share at $0.25, exercisable until Oct 8 2028) subject to a four‑month hold period expiring Feb 9 2026.
• Financing Exemption: Conducted under the listed issuer financing exemption of NI 45‑106 Part 5A; securities are free‑trading on TSX‑V and OTCQX.
• Use of Proceeds: Net proceeds will fund general working capital and support exploration activities at the Nevada North Lithium Project through to pre‑feasibility and bankable feasibility study stages.
• Regulatory Notices: Securities not registered under U.S. securities laws; no offer or solicitation in the United States absent exemption.

Notable Quotes

• “The successful completion of the LIFE Offering provides us with the capital needed to advance our Nevada North Lithium Project toward a definitive feasibility study, positioning Surge Battery Metals as a key domestic lithium supplier.” – Greg Reimer, President & CEO.