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Financings

Cruz Battery Metals Announces Closing of Private Placement to Fund Work Programs on its Nevada & Ontario Projects

By The Northwire Desk — AI Analysis Nov 21, 2025 · 03:02 CRUZ · 0.03 Cruz Battery Metals Corp.
CRUZ · Price

Executive Summary

  • Cruz Battery Metals completed a private placement financing of 14,982,750 units at $0.0326 per unit, generating gross proceeds of $488,438.
  • Net proceeds will fund work programs on the Nevada Solar Lithium Project and the Sterling South Gold/Copper Project in Ontario, with a maiden resource estimate targeted for H1 2026.
  • The financing includes common shares, share purchase warrants, and finder’s warrants; all securities are subject to a statutory hold period.

Key Details

  • Units Issued: 14,982,750 units @ $0.0326 per unit → $488,438 gross proceeds.
  • Unit Composition: 1 common share + 1 transferable warrant (right to purchase an additional share at $0.05 for five years).
  • Finder’s Fees: Cash fees of $26,210 paid; issuance of 744,000 non‑transferable finder’s warrants (right to purchase a share at $0.05 for two years).
  • Statutory Hold Period: All securities subject to a hold period expiring 4 months + 1 day after closing.
  • Use of Proceeds:
  • Fund work programs on the Solar Lithium Project (Nevada) – 14 drill holes have already intersected lithium across the first four phases.
  • Support preliminary work on the Sterling South Gold/Copper Project (Ontario), adjacent to recent discoveries by Sterling Metals Corp.
  • Project Outlook: Management aims to produce a maiden resource estimate for Solar Lithium in H1 2026; financing strengthens working capital and flexibility for additional exploration.
  • Market Context Quote (President/CEO James Nelson): Highlights record‑high lithium prices, renewed U.S. interest after President Trump’s stake in Thacker Pass, and the strategic timing to advance work programs.

Notable Quotes

“Lithium prices are currently at year highs… 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 & CEO

All securities issued are unregistered under U.S. securities laws and may not be offered or sold in the United States absent an exemption.

Read the original news release →

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