Fuse Battery Announces Non-Brokered Private Placement Financing

Fuse Battery Metals Inc. (FUSE) announced a non-brokered private placement of 12,891,200 units at $0.05 per unit, generating gross proceeds of $644,560. The company stated the funds will be used for strategic acquisitions, corporate operations, and working capital. The transaction includes insider participation of 272,040 units, representing $13,602 in investment.

Each unit comprises one common share and one common share purchase warrant. The warrants are exercisable at $0.05 per share for five years from closing. Securities issued in the offering are subject to a statutory hold period of four months and one day, and the transaction requires approval from the TSX Venture Exchange.

The private placement follows the termination of a previously announced reverse takeover and concurrent financing with Pointor AI due to missed deadlines. Funds from the terminated deal are being redirected or returned, with $660,003 returned to investors and $13,602 retained by an insider.

Fuse Battery Metals Inc. (FUSE) has raised $644,000 in financing, a figure significantly below the previously targeted range of $2 million to $3.5 million. The shortfall reflects a lack of investor appetite following the failure of the company’s reverse takeover (RTO) with Pointor AI. The transaction involves the issuance of 12.89 million new shares, increasing the total share count by approximately 34% against the existing 37.6 million shares.

Terminating the Pointor AI RTO eliminates the anticipated pivot to a Tier 2 Technology issuer, leaving Fuse Battery Metals as a minor explorer with impaired properties. The company’s going concern warning from the Q2 2026 MD&A remains unaddressed, as the small raise provides only marginal working capital relief. The market impact is expected to be negative due to the dilution, lack of operational catalysts, and continued liquidity constraints.

Fuse Battery Metals Inc. (FUSE) is a micro-cap company listed on the TSX Venture Exchange. Its flagship assets include mineral properties in Ontario and Nevada, although exploration activities have been halted and the properties have been impaired.

The company previously attempted a strategic pivot via a reverse takeover with Pointor AI to transition into a Tier 2 Technology issuer, but the transaction was terminated in September 2026. Current operations are limited, with the company relying on equity financing to evaluate acquisitions and maintain corporate existence.