Surge Battery Metals Announces $25M Non-Brokered Financing, Composed of Increased Fully-Subscribed Non-Brokered LIFE Offering of Units to $20M and Concurrent Non-Brokered Private Placement of up to $5M

Core Viewpoint - Surge Battery Metals Inc. is increasing its non-brokered private placement due to strong investor demand, raising the total expected proceeds to $25 million for its Nevada North Lithium Project [1][4]. Group 1: Offering Details - The LIFE Offering will now consist of 22,222,000 Offered Units at a price of $0.90 per unit, generating gross proceeds of $19,999,800, up from the initial $15,000,000 [1]. - A Concurrent Offering will issue up to 5,555,780 Offered Units at the same price, aiming for gross proceeds of up to $5,000,202 [1][2]. - In total, the Company aims to raise up to $25,000,002 through the issuance of up to 27,777,780 Offered Units [1]. Group 2: Use of Proceeds - Proceeds from the Offerings will be allocated to costs related to the preliminary feasibility study and definitive feasibility study for the Nevada North Lithium Project, as well as general working capital [2]. Group 3: Regulatory and Compliance - The LIFE Offering is made under the listed issuer financing exemption and will not be subject to a statutory hold period, while the Concurrent Offering will have a four-month hold period [3]. - The Offerings are subject to approval from the TSX Venture Exchange [5]. Group 4: Company Positioning - Surge Battery Metals is focused on securing domestic lithium supply through its Nevada North Lithium Project, which is crucial for electric vehicle production [8]. - The increase in financing reflects strong investor confidence in the project and aims to strengthen the Company's balance sheet for future development [4].