Surge Battery Metals Closes Financing
Surge Battery Metals (NILIF) has successfully completed a non-brokered private placement financing, raising $3,105,500 through the issuance of 10,351,667 units at $0.30 per unit. Each unit consists of one common share and one warrant, with warrants exercisable at $0.45 per share for three years from closing.
The company paid finder fees of $36,840, subject to TSX Venture Exchange approval. All securities issued will have a four-month and one-day hold period ending August 12, 2025. The proceeds will be allocated towards completing the PEA and funding ongoing operations.
Surge Battery Metals (NILIF) ha completato con successo un finanziamento di collocamento privato non mediato, raccogliendo $3.105.500 attraverso l'emissione di 10.351.667 unità a $0,30 per unità. Ogni unità è composta da una azione comune e un warrant, con warrant esercitabili a $0,45 per azione per tre anni dalla chiusura.
L'azienda ha pagato commissioni per i trovatori di $36.840, soggette all'approvazione della TSX Venture Exchange. Tutti i titoli emessi avranno un periodo di blocco di quattro mesi e un giorno che terminerà il 12 agosto 2025. I proventi saranno destinati a completare il PEA e finanziare le operazioni in corso.
Surge Battery Metals (NILIF) ha completado con éxito una colocación privada no mediada, recaudando $3,105,500 mediante la emisión de 10,351,667 unidades a $0.30 por unidad. Cada unidad consiste en una acción común y una opción de compra, con opciones ejercitables a $0.45 por acción durante tres años a partir del cierre.
La empresa pagó comisiones a los buscadores de $36,840, sujeto a la aprobación de la TSX Venture Exchange. Todos los valores emitidos tendrán un período de retención de cuatro meses y un día que finalizará el 12 de agosto de 2025. Los fondos se destinarán a completar el PEA y financiar las operaciones en curso.
Surge Battery Metals (NILIF)는 비중개 사모 배치 자금을 성공적으로 완료하여 $3,105,500를 조달하였습니다. 이는 주당 $0.30로 10,351,667 유닛을 발행한 결과입니다. 각 유닛은 하나의 보통주와 하나의 워런트로 구성되어 있으며, 워런트는 마감일로부터 3년 동안 주당 $0.45에 행사할 수 있습니다.
회사는 TSX 벤처 거래소의 승인을 조건으로 $36,840의 중개 수수료를 지급했습니다. 발행된 모든 증권은 2025년 8월 12일에 종료되는 4개월 1일의 보유 기간이 있습니다. 수익금은 PEA 완료 및 지속적인 운영 자금으로 사용될 예정입니다.
Surge Battery Metals (NILIF) a réussi à finaliser un placement privé non intermédié, levant $3,105,500 grâce à l'émission de 10,351,667 unités à 0,30 $ par unité. Chaque unité se compose d'une action ordinaire et d'un bon de souscription, les bons pouvant être exercés à $0,45 par action pendant trois ans à partir de la clôture.
L'entreprise a payé des frais de recherche de $36,840, sous réserve de l'approbation de la TSX Venture Exchange. Tous les titres émis auront une période de blocage de quatre mois et un jour se terminant le 12 août 2025. Les fonds seront affectés à l'achèvement de la PEA et au financement des opérations en cours.
Surge Battery Metals (NILIF) hat erfolgreich eine nicht vermittelte Privatplatzierung abgeschlossen und $3.105.500 durch die Ausgabe von 10.351.667 Einheiten zu je $0,30 pro Einheit gesammelt. Jede Einheit besteht aus einer Stammaktie und einem Warrant, wobei Warrants für drei Jahre ab Abschluss zu $0,45 pro Aktie ausgeübt werden können.
Das Unternehmen zahlte Vermittlungsgebühren in Höhe von $36.840, vorbehaltlich der Genehmigung der TSX Venture Exchange. Alle ausgegebenen Wertpapiere unterliegen einer Sperrfrist von vier Monaten und einem Tag, die am 12. August 2025 endet. Die Einnahmen werden zur Fertigstellung der PEA und zur Finanzierung laufender Betriebe verwendet.
- Successfully raised $3.1M through private placement financing
- Three-year warrant term provides potential additional future capital at $0.45 per share
- Secured funding for PEA completion and ongoing operations
- Share dilution through issuance of 10.35M new units
- Additional potential dilution from warrant exercise
- Four-month lock-up period limits immediate trading
West Vancouver, British Columbia--(Newsfile Corp. - April 14, 2025) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) ("Surge" or the "Company") announces that it has closed a non-brokered private placement financing offering of 10,351,667 units ("Units") at a price of
Each Unit is comprised of one common share and one share purchase warrant ("Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of
The Company also paid Finder fees in the amount of
All securities issued in connection with the private placement will be subject to a four‐month and a day hold period expiring on August 12, 2025, in accordance with applicable Canadian Securities Laws.
Proceeds of the private placement will be used to complete the PEA and fund ongoing operations.
About Surge Battery Metals Inc.
Surge Battery Metals, a Canadian-based mineral exploration company, is at the forefront of securing the supply of domestic lithium through its active engagement in the Nevada North Lithium Project. The Project focuses on exploring clean, high-grade lithium energy metals in Nevada, USA, a crucial element for powering the electric vehicles of tomorrow. With a primary listing on the TSX Venture Exchange in Canada and the OTCQX Market in the US, Surge Battery Metals Inc. is strategically positioned as a key player in advancing lithium exploration, contributing significantly to the sustainable future of the electric vehicle industry. At Surge Battery Metals, we are not just exploring minerals; we are pioneering the path to a cleaner and more sustainable future, driving innovation in the lithium sector, and contributing to the evolution of the electric vehicle industry.
About the Nevada North Lithium Project
The Company owns the Nevada North Lithium Project located in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Elko County, Nevada. The first three rounds of drilling on the Project, completed in 2022, 2023, and 2024, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of more than 4,300 meters and a known width of greater than 1500 meters. Highly anomalous soil values and geophysical surveys suggest there is potential for the clay horizons to be much greater in extent, while wide drill spacing allows for significant upside to occur during infill drilling. The Nevada North Lithium Project has a pit-constrained Inferred Resource containing an estimated 8.65 Mt of Lithium Carbonate Equivalent (LCE) grading 2,951 ppm Li at a 1,250 ppm cutoff.
On behalf of the Board of Directors
"Greg Reimer"
Greg Reimer,
Director, President & CEO
Contact Information
Email: info@surgebatterymetals.com
Phone: 604-662-8184
Website: surgebatterymetals.com
Keep up-to-date with Surge Battery Metals: Twitter, Facebook, LinkedIn, Instagram and YouTube.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium and nickel, the accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for CDN$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company's current plans, expectations, and intentions with respect to development of its business and of its Nevada properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its Nevada properties. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water-related risks) and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248359
FAQ
How much did Surge Battery Metals (NILIF) raise in its latest private placement?
What are the terms of NILIF's warrants from the April 2025 financing?
When does the hold period end for NILIF's April 2025 private placement securities?
What will Surge Battery Metals (NILIF) use the private placement proceeds for?
How much were the finder fees in NILIF's April 2025 private placement?
