Business
Surge Battery Closes 1st Tranche Non-Brokered Private Placement
(TheNewswire) Coquitlam, BC - TheNewswire - March 17, 2023 - Surge Battery Meta...
About this update from Surge Battery Metals Inc
[{"type":"text","content":"Surge Battery Closes 1st Tranche Non-Brokered Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Coquitlam, BC -\n \n \n TheNewswire -\n \n \n March 17, 2023 -\n \n \n Surge Battery Metals Inc. (the “\n \n \n Company\n \n \n ” or\n“\n \n \n Surge\n \n \n ”)\n \n \n (TSXV:NILI\n \n \n )\n \n \n (\n \n \n OTC:NILIF\n \n \n )\n \n \n (\n \n \n FRA:DJ5C)\n \n \n is pleased to announce that it has\nclosed the first tranche of its non-brokered private placement\nfinancing of 2,000,000 units at $0.25 per unit (“Units”) raising\ngross proceeds of $500,000. The Company expects to close the second\nand final tranche of the private placement on or before March 31,\n2023, raising up to an additional amount of $1,000,000.\n \n \n \n \n Each Unit is comprised of one common share and one\nshare purchase warrant (“Warrant”). Each Warrant will entitle the\nholder thereof to purchase one additional common share of the Company\nat an exercise price of $0.30 per share for a period of five years\nfrom closing, subject to final TSX Venture Exchange (“Exchange”)\napproval.\n \n \n \n \n In connection with first tranche closing, the Company\nwill be paying finder fees in the amount of 200,000 shares. The finder\nfees are subject to Exchange approval.\n \n \n \n \n All securities issued in connection with the private\nplacement will be subject to a four‐month and a day hold period\nexpiring on July 18, 2023, in accordance with applicable Canadian\nSecurities Laws.\n \n \n \n \n The proceeds of the private placement will be used for\nexploration and development and for general working capital purposes\nas outlined in the press release dated,\n \n \n \n \n February\n9\n \n \n \n \n th\n \n \n \n \n ,\n2023.\n \n \n \n \n \n \n Consulting Agreement\n \n \n \n \n In addition,\n \n \n the Company also\nannounces that it has engaged Triomphe Holdings Ltd. (dba Capital\nAnalytica) “Capital Analytica” to provide a multi-faceted\nPromotional Enhancement Service. Capital Analytica is a Nanaimo, BC\nbased company.\n \n \n \n \n The\n \n \n Company has entered into a\nConsulting Agreement (the “Agreement) with Capital Analytica dated\nMarch 14, 2023.\n \n \n Pursuant to t...