Business
Surge Battery Closes 2nd Tranche Non-Brokered Private Placement
(TheNewswire) Coquitlam, BC - TheNewswire - March 27, 2023 - Surge Battery Meta...
About this update from Surge Battery Metals Inc
[{"type":"text","content":"Surge Battery Closes 2nd 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 27, 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 further\nto its news release dated\n \n \n \n \n March 17,\n2023\n \n \n \n \n , it has closed the second\ntranche of its non-brokered private placement financing of 1,632,328\nunits at $0.25 per unit (“\n \n \n Units\n \n \n ”) raising gross proceeds of $408,082.\n To date the Company has raised $908,082.  The Company expects to\nclose additional tranches of the private placement on or before April\n27, 2023.\n \n \n \n \n Each Unit is comprised of one common share and one\nshare purchase warrant (“\n \n \n Warrant\n \n \n ”). 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 (“\n \n \n Exchange\n \n \n ”)\napproval.\n \n \n \n \n In connection with the second tranche closing of the\nprivate placement, the Company also paid finder fees in the amount of\n$11,500 cash and 117,232 common shares in connection with the private\nplacement.  The finder fees and shares have received Exchange\napproval.\n \n \n \n \n All securities issued in connection with the second\ntranche of the private placement are subject to a four‐month and a\nday hold period expiring on July 28, 2023, in accordance with\napplicable Canadian Securities 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 About Surge Battery Metals Inc.\n \n \n \n \n surgebatterymetals.com\n \n \n \n \n \n \n The Company is a Canadian-based mineral exploration\ncompany active in the exploration for nickel-iron alloy in\n \n \n...