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Surge Battery Metals Announces Non-Brokered LIFE Offering of Units
West Vancouver, British Columbia--(Newsfile Corp. - September 18, 2025) - Surge Battery Metals I...
About this update from Surge Battery Metals Inc
[{"type":"text","content":"Surge Battery Metals Announces Non-Brokered LIFE Offering of UnitsWest Vancouver, British Columbia--(Newsfile Corp. - September 18, 2025) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) (the \"Company\" or \"Surge\") is pleased to announce that it will be conducting a non-brokered private placement of units (the \"Offered Units\") at a price of $0.25 per Offered Unit (the \"Issue Price\") for aggregate gross proceeds of a minimum of $4,000,000 (16,000,000 Offered Units) up to a maximum of $5,000,000 (20,000,000 Offered Units), pursuant to the listed issuer financing exemption available under under Part 5A of National Instrument 45-106 - Prospectus Exemptions (the \"LIFE Offering\"), in each of the Provinces of Canada other than Quebec. Each Offered Unit will consist of one common share of the Company (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.40 for a period of three years from the date of issuance. In connection with the offering 3L Capital Inc. is acting as financial advisor to the transaction. The offering document relating to the LIFE Offering (the \"Offering Document\") can be accessed under the Company's profile at www.sedarplus.ca and at https://surgebatterymetals.com/. Prospective investors in the LIFE Offering should read the Offering Document before making an investment decision.The Company is undertaking this financing in connection with its recently announced Letter of Intent with Evolution Mining Limited to establish a Joint Venture on the Nevada North Lithium Project. Proceeds of the Offering will position Surge to meet near-term funding commitments under the contemplated JV structure, while also advancing exploration and development activities at Nevada North. In addition, the Offering will strengthen the Company's balance sheet and provide working capital flexibility as Surge progresses discussions with Evolution and continues to pursue new project opportunities.Mr. Graham Harris, Chairman and Director, commented, \"We are pleased to announce this financing to fulfill our obligation under the terms of the JV with Evolution Mining. We continue to receive critical support from key stakeholders and wish to thank them and 3L Capital for their commitment to s...