Fuse Battery Closes Non-Brokered Private Placement Financing

Fuse Battery Metals Inc. closed a non-brokered private placement on October 29, 2026, raising gross proceeds of $644,560. The transaction issued 12,891,200 units at $0.05 per unit, with each unit comprising one common share and one common share purchase warrant. The warrants carry a $0.05 exercise price and a five-year term from the closing date.

Insider participation was minimal at 272,040 units ($13,602), classified as a related party transaction under Multilateral Instrument 61-101. All newly issued securities are subject to a statutory hold period expiring March 2, 2027. Proceeds are designated for strategic acquisition opportunities, evaluating potential transactions, and supporting ongoing corporate operations and working capital.

The financing follows the formal termination of a proposed $2.0M+ subscription receipt financing and reverse takeover with Pointor AI, which failed to close by the June 27, 2026 deadline.

Fuse Battery Metals Inc. (FUSE) has secured financing that adds 12.89 million shares to its existing base of approximately 37.6 million shares, representing a roughly 34% increase in outstanding stock. The capital was raised at an issue price of $0.05, which is more than double the company's recent trading range of $0.02–$0.03. This pricing suggests a distressed capital raise where the company had to price above market levels to attract buyers, likely due to the statutory hold and warrant structure associated with the deal.

Insider participation in the offering was negligible, totaling just $13,602, a figure that fails to signal strong management confidence in near-term value creation. Furthermore, the termination of the Pointor AI RTO removes the anticipated strategic pivot to AI-driven battery technology, leaving the company to rely on its impaired Ontario and Nevada mineral properties and unproven acquisition targets.

The capital raise does not resolve the company's working capital deficit of $321,119 CAD or the explicit going concern warning. Instead, it merely extends the runway for corporate operations and potential acquisitions without materially improving the company's fundamental outlook or liquidity position.

Fuse Battery Metals Inc. (FUSE) operates as a mining and technology company exploring battery-grade metals, with flagship assets located in Ontario and Nevada. According to the company’s H1 2026 MD&A, exploration activities on these properties have been halted and the assets have been impaired.

The company previously attempted a strategic pivot to AI and battery technology through a reverse takeover with Pointor AI, but the transaction was terminated in September 2026 because financing conditions were not met. Fuse Battery Metals is now focused on corporate operations, working capital management, and evaluating strategic acquisition opportunities.