Surge Battery Metals Announces Non-Brokered LIFE Offering of Units

Core Viewpoint - Surge Battery Metals Inc. is initiating a non-brokered private placement to raise between $4 million and $5 million to support its joint venture with Evolution Mining Limited and advance its Nevada North Lithium Project [1][3]. Group 1: Offering Details - The private placement will consist of units priced at $0.25 each, with a minimum of 16 million units and a maximum of 20 million units available [1]. - Each unit includes one common share and one warrant, allowing the purchase of an additional common share at $0.40 for three years [1]. - The offering is conducted under the listed issuer financing exemption in Canada, excluding Quebec [1]. Group 2: Use of Proceeds - Proceeds from the offering will fulfill near-term funding commitments related to the joint venture with Evolution Mining and will also support exploration and development activities at the Nevada North Lithium Project [3]. - The financing aims to strengthen the company's balance sheet and provide working capital flexibility for ongoing discussions with Evolution and potential new project opportunities [3]. Group 3: Financial Advisor and Finder's Fees - 3L Capital Inc. is acting as the financial advisor for the transaction [1]. - The company may pay finders' fees of up to 7% of gross proceeds and issue finder warrants equivalent to 7% of the units sold, with each warrant exercisable at $0.25 for 36 months [4]. Group 4: Company Background - Surge Battery Metals is focused on securing domestic lithium supply through its Nevada North Lithium Project, which is crucial for electric vehicle production [7]. - The company is listed on the TSX Venture Exchange in Canada and the OTCQX Market in the US, positioning it as a key player in lithium exploration [7].