Core Viewpoint - Surge Battery Metals Inc. has successfully closed a non-brokered private placement financing, raising $500,000 through the issuance of 1,851,852 units at a price of $0.27 per unit, which includes common shares and warrants [1][2]. Financing Details - Each unit consists of one common share and one share purchase warrant, with the warrant allowing the purchase of an additional common share at an exercise price of $0.37 until October 15, 2028 [2]. - The private placement proceeds will be allocated for general working capital [3]. Strategic Investment - The sole investor in this private placement is The Quaternary Group Ltd., which now holds approximately 11.3% of the company's outstanding shares on a diluted basis and 5.7% on an undiluted basis, marking them as a significant shareholder [4]. - The investment is viewed as a strong endorsement of the company's projects and growth strategy [4]. Management Commentary - Graham Harris, Chairman, expressed satisfaction with the continued investment from The Quaternary Group, highlighting their long-standing support and confidence in the company's strategy [5]. - Ross Jennings from The Quaternary Group emphasized the strategic importance of Surge Battery Metals in the lithium market, particularly in relation to the Nevada North Lithium Project [5]. Company Overview - Surge Battery Metals is a Canadian mineral exploration company focused on securing domestic lithium supply through the Nevada North Lithium Project, which is crucial for electric vehicle production [6]. - The company is listed on the TSX Venture Exchange and the OTCQX Market, positioning it as a key player in lithium exploration [6]. Nevada North Lithium Project - The Nevada North Lithium Project is located in the Granite Range, with significant drilling results indicating a mineralized zone of lithium-bearing clays over a strike length of more than 4,300 meters [7]. - The project has an inferred resource of approximately 8.65 million tonnes of Lithium Carbonate Equivalent (LCE) with a grade of 2,955 ppm Li [7]. - A recently completed Preliminary Economic Assessment (PEA) reported an after-tax NPV at 8% of $9.17 billion and an after-tax IRR of 22.8% at a lithium price of $24,000 per tonne [7].