Fuse Battery Announces Non-Brokered Private Placement Financing

(via TheNewswire)   Maple Ridge, BC, October 28, 2026 - TheNewswire – Fuse Battery Metals Inc. (“the Company” or “Fuse”) (TSXV: FUSE, OTC: FSBMF, FRA: 43W3) announces that it is proposing a non-brokered private placement financing of 12,891,200 units (the “Units”) at a price of $0.05 per Unit for gross proceeds of $644,560 (the “Private Placement”). The Private Placement is subject to TSX Venture Exchange (“Exchange”) approval. Each Unit will consist of one common share in the capital of the Company and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional common share of the Company at an exercise price of $0.05 per share for a period of five years from the date of closing. In connection with the Private Placement, the Company proposes to issue 30,000 common shares at a deemed value of $0.05 per share as finder’s fees, subject to approval of the Exchange. All securities issued in connection with the Private Placement will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws. The Company intends to use the proceeds of the Private Placement to pursue strategic acquisition opportunities, evaluate potential transactions, and support ongoing corporate operations, working capital requirements, and future business initiatives. Insiders of the Company are expected to subscribe for an aggregate of 272,040 Units under the Private Placement, representing gross proceeds of $13,602. Such participation will constitute a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company expects to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to Sections 5.5(a) and 5.7(a), respectively. Termination of Subscription Receipt Financing and Return of Subscription Funds   Further to its news release dated September 22, 2026, announcing the termination of the previously proposed subscription receipt financing and reverse takeover transaction, the Company confirms that an aggregate of $673,605 was raised under the terminated subscription receipt financing. In accordance with the terms of the Subscription Receipt Agreement, none of these funds were used by the Company. As of October 26, 2026, the Company had returned an aggregate of $660,003 to subscribers, with the remaining $13,602 attributable to an insider of the Company who has requested that his funds remain in the Company's bank account and be applied directly toward his subscription in the proposed new private placement, subject to the approval of the TSX Venture Exchange. As the insider resides in the United States, returning the funds and subsequently transferring them back to Canada would result in unnecessary foreign exchange conversion costs and potential exchange rate losses.   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. Forward-Looking Statements This news release contains forward-looking statements, including statements regarding the proposed Private Placement, anticipated closing, receipt of Exchange approval, insider participation and intended use of proceeds. These statements are based on management's current expectations and assumptions, including the availability of financing and receipt of necessary regulatory approvals, and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks include the inability to complete the Private Placement on the terms proposed or at all, delays in obtaining regulatory approvals, and changes in market conditions. Forward-looking statements are not guarantees of future performance. Except as required by applicable securities laws, the Company undertakes no obligation to update these statements. Completion of the Private Placement is subject to certain conditions, including acceptance by the TSX Venture Exchange. There can be no assurance that the Private Placement will be completed as proposed or at all.   Copyright (c) 2026 TheNewswire - All rights reserved.