10:03 AM EST - Surge Battery Metals Inc. : Announced strategic funding through a non-brokered private placement of up to 50,000,000 units at a price of $0.60 per Unit for gross proceeds of up to $30,000,000, with an option to upsize to $36,000,000, which if fully subscribed, will fully fund the Nevada North Lithium Project to a construction decision. Following closing of the Offering, the Company expects to hold approximately $70 million, in treasury. The financing is led by Brian Paes-Braga - Managing Partner of SAF Group, a global structured credit and merchant banking firm, and Head of SAF Capital Partners, the growth equity arm of SAF Group -and Michael Hess - CIO of Hess Capital - both of whom will be joining and co-leading Surge's Strategic Advisory Board. The Strategic Advisory Board has been established to enhance Surge's capital markets presence globally, support the Company's ongoing Nasdaq Capital Market application, and provide strategic guidance across government relations, off-take discussions, and construction financing. Surge Battery Metals Inc.
shares O.NILIF are trading unchanged at $0.55.
Full Press Release: https://www.baystreet.ca/quotedata/quote.aspx?ticker=NILI%3ACA&qmodStoryID=7188096152684266
