West Vancouver, British Columbia — January 15, 2026 — Leads & Copy — Surge Battery Metals Inc. (TSXV: NILI, OTCQX: NILIF, FSE: DJ5) has increased its non-brokered private placement due to investor demand, and will conduct a concurrent private placement, aiming to raise a total of $25,000,002.
The company will increase its previously announced private placement (LIFE Offering) of units at a price of $0.90 per unit. The increased LIFE Offering will consist of the issuance of 22,222,000 units for gross proceeds of $19,999,800, up from the previously announced $15,000,000.
Surge Battery Metals will also conduct a concurrent non-brokered private placement (Concurrent Offering) of up to 5,555,780 units at $0.90 per unit, for gross proceeds up to $5,000,202.
In aggregate, the company will raise gross proceeds of up to $25,000,002 through the issuance of up to 27,777,780 units under the Offerings.
Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each whole warrant will allow the holder to acquire one common share at an exercise price of $1.35, starting 60 days after issuance and expiring three years from the issuance date.
The company intends to use the proceeds for additional costs related to its preliminary feasibility study for its Nevada North Lithium Project, costs for a definitive feasibility study for the Project, and for general working capital. 3L Capital Inc. is acting as financial advisor for the Offerings.
The Offerings are expected to close on or about February 3, 2026, but the closing date is subject to change.
The LIFE Offering is being made to purchasers resident in each of the Provinces of Canada other than Quebec, pursuant to certain exemptions under Canadian securities laws. Securities issued under the LIFE Offering will not be subject to a statutory hold period under applicable Canadian securities laws. Securities issued under the Concurrent Offering will be subject to a four-month statutory hold period.
An amended offering document related to the LIFE Offering can be found on www.sedarplus.ca and the company’s website.
Mr. Graham Harris, Chairman of Surge Battery Metals, said the financing reflects strong investor demand and confidence in the Nevada North Lithium Project. He said the funding strengthens the company’s balance sheet and positions the company to advance both its preliminary and definitive feasibility work.
The company may pay finders’ fees in connection with the Offerings, consisting of cash commissions up to 6% of the gross proceeds raised from purchasers introduced to the company by eligible finders, and finder warrants equal to up to 6% of the aggregate number of units sold to purchasers introduced by eligible finders.
Each finder warrant will be exercisable for one common share at an exercise price of $1.35 per common share for 36 months following the date of issuance.
The closing of the Offerings is subject to receipt of the approval of the TSX Venture Exchange.
The securities issued pursuant to the Offerings have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption.
Surge Battery Metals Inc. is focused on securing the supply of domestic lithium through its Nevada North Lithium Project, exploring for lithium energy metals in Nevada.
Greg Reimer, President & CEO
Contact Information:
Email: info@surgebatterymetals.com
Phone: 604-662-8184
Source: Surge Battery Metals
