Surge Battery Metals Announces $15M Non-Brokered LIFE Offering of Units

Core Viewpoint - Surge Battery Metals Inc. is initiating a non-brokered private placement called the LIFE Offering, aiming to raise $15,000,030 through the sale of 16,666,700 Offered Units, which will support the Nevada North Lithium Project and general working capital [1][3]. Group 1: Offering Details - The Offered Units are priced at $0.90 each and consist of one common share and one-half of a common share purchase warrant, with each full warrant allowing the purchase of one common share at $1.35 for three years post-issuance [1]. - The LIFE Offering is expected to close around February 3, 2026, and is subject to TSX Venture Exchange approval [1][4]. - The offering is made under the National Instrument 45-106, allowing participation from Canadian investors outside Quebec, and the securities will not be subject to a statutory hold period [2]. Group 2: Use of Proceeds - Proceeds from the LIFE Offering will be allocated to costs related to the preliminary feasibility study for the Nevada North Lithium Project, a definitive feasibility study, and general working capital [1][3]. Group 3: Company Positioning - Surge Battery Metals is focused on securing domestic lithium supply through its Nevada North Lithium Project, which is essential for electric vehicle production [6]. - The financing is viewed as a strong endorsement of the company's strategy and its project development efforts [3].