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Surge Battery Metals Closes Fully-Subscribed Non-Brokered Private Placement for Gross Proceeds of $25M
West Vancouver, British Columbia--(Newsfile Corp. - February 4, 2026) - Surge Battery Metals In...
About this update from Surge Battery Metals Inc
[{"type":"text","content":"Surge Battery Metals Closes Fully-Subscribed Non-Brokered Private Placement for Gross Proceeds of $25MWest Vancouver, British Columbia--(Newsfile Corp. - February 4, 2026) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) (the \"Company\" or \"Surge\") is pleased to announce that it has closed its previously announced non-brokered private placement, raising aggregate gross proceeds of $25,000,000. Under the private placement, the Company raised gross proceeds of $19,999,800 (the \"LIFE Offering\") by issuing an aggregate of 22,222,200 units (the \"Offered Units\") at a price of $0.90 per Offered Unit pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 and Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the \"Blanket Order\"). The Company filed an amended and restated offering document relating to the LIFE Offering (the \"Amended Offering Document\") on January 15, 2026, which can be accessed under the Company's profile at www.sedarplus.ca and at https://surgebatterymetals.com/. The Company raised additional gross proceeds of $5,000,202 (the \"Concurrent Offering\") by issuing an aggregate of 5,555,780 Offered Units at a price of $0.90 per Offered Unit for gross proceeds up to $5,000,202 pursuant to prospectus exemptions available under applicable securities laws. Each Offered Unit consists of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each full warrant, a \"Warrant\"). Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $1.35 at any time following 60 days after the date of issuance until February 3, 2029. The Offered Units and underlying securities issued under the LIFE Offering are free trading. The Offered Units and underlying securities issued under the Concurrent Offering are subject to a four-month statutory hold period pursuant to applicable Canadian securities laws, expiring June 4, 2026.\"We are pleased to have completed this fully subscribed financing, which provides Surge with a strong balance sheet to advance key technical and feasibility work at Nevada North. On behalf of Surge Battery metals, we extend our thanks to 3L Capital and the Quaternary Group for their continued support,\" said Graham Harris, ...