March 25, 2022: Vancouver, BC; Surge Battery Metals Inc. (the “Company” or “Surge”) (TSXV: NILI, OTCPink: NILIF, FRA: DJ5C) announces that further to its news release dated November 2, 2021 and pursuant to the amendments of the TSX Venture Exchange (“Exchange”) policies with respect to “Securities for Services”, the Company has amended the Client Services Agreement (the “Amended Agreement”) with Stockhouse Publishing Ltd. (“Stockhouse”) The Amended Agreement is subject to Exchange approval. Stockhouse is an arm’s length service provider to the Company.
The total cost for Stockhouse’s services for 12 months is $126,000 (inclusive of GST) whereby the Company has paid $63,000 in cash and $63,000 will be paid by the issuance of common shares (“Shares”) of Surge.
Upon Exchange acceptance to the transaction, the Company will issue $33,000 in Shares of the Company at a deemed value of $0.33 per share and the Company will also issue $7,500 in Shares at a deemed value of $0.15 per share as these services have now been performed. These shares represent the initial share payment and the second share payment under the terms of the Amended Agreement.
The remaining share payments will be paid after the services have been performed and Notice has been given to the Exchange as follows:
- $7,500 in Shares on or about May 30, 2022, issued at the deemed price per share less applicable discount to market;
- $7,500 in Shares on or about August 30, 2022, issued at the deemed price per share less applicable discount to market; and
- $7,500 in Shares on or about November 30, 2022 to be issued at the deemed price per share less applicable discount to market.
All securities issued in connection with the above will be subject to a four‐month and a day hold period in accordance with applicable Canadian Securities Laws.
Under the terms of the Amended Agreement, Stockhouse will assist Surge with general market outreach and investor awareness as the Company continues to achieve important milestones and grow its investor base over the next several months. Surge will have access to over 30 different marketing tools focused on editorial, brand awareness and amplifying news on Surge. Using these Stockhouse tools, a larger investor audience can become aware of Surge.
About Stockhouse Publishing Ltd.
Stockhouse www.stockhouse.com is a leading financial media company that serves public companies, financial institutions, media publishers, and brand advertisers. Stockhouse members have access to a wide range of world class products and tools including portfolio managers, subscription-based expert newsletters, Stockhouse Bullboards, blogs and social networking tools to help navigate their investment options. With over 9 million unique visitors annually, Stockhouse is Canada’s #1 financial portal and one of North America’s largest small-cap investor communities.
About Surge Battery Metals Inc. surgebatterymetals.com
The Company is a Canadian-based mineral exploration company active in the exploration for nickel-iron alloy and Copper in British Columbia and lithium in Nevada whose primary listing is on the TSX Venture Exchange. The Company’s maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.
Nevada Lithium Claims
The Company owns a 100% interest in 95 mineral claims located in Elko County, Nevada. The Northern Nevada Lithium Project is located in the Granite Range about 34 line- km southeast of Jackpot, Nevada, about 73 line-km north-northeast of Wells, Nevada. The target is a Thacker Pass or Clayton Valley type lithium clay deposit in volcanic tuff and tuffaceous sediments of the Jarbidge Rhyolite package. The project area was first identified in public domain stream sediment geochemical data with follow up sediment sampling and geologic reconnaissance.
The Company has entered into a Property Option Agreement to earn an undivided 80% interest in the San Emidio Desert Lithium Project, subject to a 2% NSR, located 60 miles Northeast of Reno, Nevada from Lithium Corporation (OTCQB: LTUM). The San Emidio Desert Lithium Project consists of 60 mineral claims comprising a total of 4,800 acres and is located in the San Emidio Desert.
The Company owns a 100% interest in 663 ha (1,640 acre) property in the Teels Marsh Playa Mineral County, Nevada. The property is located in an active region for both lithium exploration and production.
Nickel Projects, Northern BC
The Company has entered into a Property Option Agreement to earn an undivided 80% interest in certain mineral claims from Nickel Rock Resources Inc.
The Surge Nickel Project consists of two non-contiguous mineral claims groups consisting of 6 mineral claims in the Mount Sidney Williams area (HN4) covering 1863 hectares immediately south of and adjacent to the Decar Project and the Mitchell Range area (N100) covering 8659 hectares, located in Northern British Columbia. Three of the claims are subject to 2% NSR, including the (HN4 claim and the two southernmost claims of the N100 claims).
The exploration stage project is in the Trembleur Lake area of central British Columbia, partially adjacent to FPX Nickel Corp.’s Decar Nickel Project, which is an advanced project targeting awaruite, a nickel-iron alloy mineral, hosted by serpentinized ultramafic intrusive rocks of the Trembleur Ultramafic Unit.
Caledonia Project, Vancouver Island, BC
The Company has entered into a Property Option Agreement to acquire a 100% interest in 7 mineral claims including the Caledonia, Cascade and Bluebell claims, subject to a NSR between 1-2%. Located in the Nanaimo Mining Division on northern Vancouver Island. The claims are 7 km north-west of BHP’s past producing Island Copper mine. During its prime operating period the Island Copper mine was Canada’s third-largest copper producer. The Caledonia Project claims area lies within a 50-kilometer-long copper belt northwest of the Island Copper mine.
On Behalf of the Board of Directors
Greg Reimer, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward‐looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward‐looking. Forward‐looking statements are not guaranteeing future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward‐looking statements.