Fuse Battery Announces Termination of Proposed Reverse Take-over Transaction and Concurrent Financing

(via TheNewswire)     Maple Ridge, BC, September 22, 2026 - TheNewswire – Fuse Battery Metals Inc. (“the Company” or “Fuse”) (TSXV: FUSE, OTC: FUSEF, FRA: 43W3) announces that it will not be proceeding with its previously announced proposed subscription receipt financing (“Financing”) and concurrent reverse take-over transaction (the “Proposed Transaction”) between the Company and 1545726 B.C. Ltd. dba Pointor AI (“Pointor AI”).  The Company and Pointor AI entered into a Share Exchange Agreement dated September 9, 2025 as amended April 23, 2026 (collectively the ”Agreement”). The Proposed Transaction was subject to a number of conditions, including the completion of a Financing. The Financing was not completed within the timeframe contemplated by the Company and the TSX Venture Exchange.  As a result, the proposed Transaction will not proceed. The Company also announces that it has entered into a termination agreement (the “Termination Agreement”) with Pointor AI dated August 10, 2026 pursuant to which the parties have agreed to terminate the previously announced Proposed Transaction. Pursuant to the Termination Agreement, the Transaction has been terminated effective August 10, 2026, and the parties have been released from their respective obligations under the Agreement and Proposed Transaction, subject to any provisions that expressly survive termination. The Company appreciates the time and effort contributed by the management teams from both parties during the course of the negotiation process. The Company intends to continue pursuing growth opportunities through strategic acquisitions and may consider financing alternatives to support its working capital requirements and future business initiatives   The Company has requested that the TSX Venture Exchange lift the trading halt that was imposed in connection with the Proposed Transaction. The Company anticipates that trading in its common shares will resume following confirmation from the TSX Venture Exchange that the halt has been lifted. Shareholders will be advised if any further material developments arise.   The Company also announces that Andrew Gertler has resigned as a director of the Company.  We thank Mr. Gertler for his contributions to Fuse and wish him well in his future endeavors.   About Fuse Battery Metals Inc. https://fusebatterymetals.com   Fuse Battery Metals Inc. is a Canadian based exploration company that trades under the symbol FUSE on the TSX Venture Exchange. The Company's focus is on exploration for high value metals required for the manufacturing of batteries. Ontario Cobalt Properties Fuse owns a 100% interest its Glencore Bucke Property, situated in Bucke Township, 6 km east- northeast of Cobalt, Ontario, subject to a back-in provision, production royalty and off-take agreement. The Glencore Bucke Property consists of 16.2 hectares and sits along the west boundary of Fuse’s Teledyne Cobalt Project. The Company also owns a 100% interest, subject to a royalty, in the Teledyne Project located near Cobalt, Ontario. The Teledyne Property adjoins the south and west boundaries of claims that hosted the Agnico Mine.   Glencore Bucke/Teledyne Property Situated in Bucke Township, 6 km east-northeast of Cobalt, Ontario the Glencore Bucke Property adjoins, on its northeast corner, the former cobalt producing Agaunico Mine. From 1905 through to 1961, the Agaunico Mine produced a total of 4,350,000 lbs. of cobalt (“Co”), and 980,000 oz of silver (“Ag”) (Cunningham-Dunlop, 1979). The amount of cobalt produced from the Agaunico Mine is greater than that of any other mine in the Cobalt Mining Camp. Production ceased in 1961 due to depressed Co prices and over-supply (Thomson, 1964). The Glencore property is 100% owned by Fuse Cobalt subject to a back-in provision, production royalty and off-take agreement.   The associated Teledyne Property, located in Bucke and Lorrain Townships, consists of 5 patented mining claims totaling 79.1 ha, and 46 unpatented mining claim cells totaling approximately 700 ha. The Property is easily accessible by highway 567 and a well-maintained secondary road .   Over CAD$25 million has been spent thus far, (2020 dollars inflation-adjusted) on the Teledyne Property resulting in valuable infrastructure including a development ramp and a modern decline going down 500 ft parallel to the main cobalt mineralized vein. The Teledyne Property is subject to a production royalty in favor of New Found Gold and an off-take agreement in favor of Glencore Canada Corp., while the Glencore Bucke Property is subject to a back-in provision, production royalty, and an off-take agreement in favor of Glencore Canada Corp. Glencore PLC is the world’s largest producer of cobalt. A significant portion of the cobalt that was produced at the Agaunico Mine was located along structures (Vein #15) that extended southward towards the northern boundary of the Teledyne Cobalt Property, currently 100% owned by FUSE. Mineralization was generally located within 125 ft (38.1 m) above the Huronian/Archean unconformity. Stoping widths of up to 50 ft (15.2 m) were not unusual at the Agaunico Mine (Cunningham-Dunlop, 1979).   On Behalf of the Board of Directors “Tim Fernback” Tim Fernback, President & CEO Contact Information: Email: [email protected] Phone: 236-521-0207   Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.   The Exchange has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release. Copyright (c) 2026 TheNewswire - All rights reserved.