Cruz Battery Metals closes $488,438 private placement

Executive Summary

• Cruz Battery Metals Corp. has completed the closing of a private placement financing, issuing nearly 15 million units for gross proceeds of approximately $488,438.
• The net proceeds will be used to fund work programs on the company's Nevada lithium projects (specifically the Solar project) and the Sterling South gold-copper project in Ontario.
• The financing includes warrants exercisable at $0.05 per share, and the company aims to produce a maiden resource estimate for the Solar lithium project in the first half of 2026.

Key Details

• Units Issued: 14,982,750 units.
• Price Per Unit: 3.26 cents.
• Gross Proceeds: $488,438.
• Unit Composition: Each unit consists of one common share and one transferable share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to acquire one additional share at a price of $0.05 per warrant share for a period of five years from closing.
• Finder's Fees:
  • Cash fees paid: $26,210.
  • Non-transferrable warrants issued to finders: 744,000 warrants.
  • Finder Warrant Terms: Exercisable at $0.05 per share for a period of two years from closing.
• Hold Period: All securities issued are subject to a statutory hold period expiring four months and one day after the closing of the financing.
• Use of Proceeds: Financing work programs on the Nevada lithium projects (Solar, Clayton Valley, Central Clayton Valley) and the Ontario gold-copper project (Sterling South).
• Project Context: Cruz has discovered lithium in all 14 drill holes on the Solar lithium project in Nevada, which directly borders American Lithium Corp.
• Strategic Goal: Management aims to produce a maiden resource estimate for the Solar lithium project in the first half of 2026.
• Market Context: Management cites year-high lithium prices and renewed investor attention to domestic lithium, including political developments regarding Lithium Americas' Thacker Pass mine.

Notable Quotes

• "Lithium prices are currently at year highs... and attention towards domestic lithium seems to have renewed since President Trump agreed to take a stake in Lithium Americas' Thacker Pass lithium mine in Nevada... management feels this is an opportune time to proceed with a work program on the Solar lithium project... with the goal of producing a maiden resource estimate in the first half of 2026." — James Nelson, President