Troilus Gold advances project financing with additional LOIs for $500m
In May, the company produced a feasibility study that demonstrated the potential for Troilus to be amongst the largest gold producers in Canada.
(via TheNewswire)
Vancouver, BC – TheNewswire - November 16, 2021 - Surge Battery Metals Inc. (the “Company” or “Surge”) (TSXV:NILI) (OTC:NILIF) (FRA:DJ5C) has received a request by the OTC Markets Group to comment on recent promotional activity related to Surge's common shares traded on the OTC Markets.
On November 12, 2021, the Company became aware that Stellar Media Group LLC produced and disseminated a corporate profile published without the knowledge or consent of the Company through BEAT Penny Stocks and Stock Street wire brands as per the disclaimer in their corporate profile. The Company was not aware of these promotional materials prior to receiving copies from OTC Markets. The Company has not hired Stellar Media Group, and neither the Company nor its officers were involved, directly or indirectly, in the creation, distribution, dissemination or payment for the promotional materials.
The promotional materials appear to provide an overview of the Company's business and also appear to make several speculative claims regarding the Company's prospects. The promotional materials are based upon information made available by the Company, including the Company's news releases and investor presentations. The Company does not believe that the promotional materials have had an effect on the trading activity in the Company's common shares. The Company had no editorial control over the content or the promotional materials. The Company has reviewed the promotional materials and while it does consider the materials to be speculative it does not consider the statements made in the promotional materials to be materially false or misleading.
Upon inquiry of Company management, none of the Company's officers, directors or greater than 10% shareholders, or any third-party service providers, have (i) directly or indirectly been involved in the creation of, distribution of, or payment for promotional materials related to the Company or its common shares or (ii) sold or purchased any of the Company's securities in the past 90 days. As noted below the Company has retained Winning Media LLC and TD Media LLC dba Life Water Media to provide marketing services to the Company. Subsequent to the profiles on the Company distributed by Stellar Media LLC and after such publications were brought to our attention, both Winning Media LLC and TD Media LLC advised the Company that they advanced funds to the outside marketing firm Stellar Media LLC for partial payment of marketing services. However, we have been advised that neither Winning Media LLC and TD Media LLC had any involvement in the creation or distribution of those materials or newsletters.
Over the last year, the Company has engaged four third-party providers for investor relations, public relations, marketing, advertising and other related activities: Winning Media LLC (see news release dated September 7, 2021); TD Media LLC (see news release dated October 15, 2021); Network 1 Financial Securities, Inc. (see news release dated October 26, 2021); and Stockhouse Publishing Ltd. The Company has also retained Accesswire through Issuer Direct to provide communication services including news dissemination services and Mini-IR website Solutions Issuer Services as advertised on the OTCQX and OTCQB platforms.
During the past two years the Company completed a private placement through the facilities of the TSX Venture Exchange (“Exchange”) and the Company has issued the following shares and warrants. The shares were issued at a discount to market pursuant to allowable private placement pricing policies of the Exchange and all securities issued were restricted and subject to statutory hold periods. The warrant prices were priced at market price at the time of issuance and as such were not discounted: The Company also exercised stock options as follows which were also discounted based on allowable pricing requirements of the Exchange:
- February 3, 2021 – 40,000,000 units at a price of Cdn$0.06 and 40,000,000 warrants exercisable at $0.08 expiring on February 3, 2023. 3,950,000 finder shares on the same terms as the units were issued and 1,975,000 finder warrants were issued on the same terms as the purchaser warrants.
- August 6, 2021 – 850,000 stock options were exercised at Cdn.$0.06 per share.
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 38 mineral claims located in 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.
Caledonia Project, Vancouver Island, BC
The Company has entered into a Property Option Agreement to acquire a 100% interest in 7 mineral claims known as the Caledonia, Cascade and Bluebell, subject to a NSR between 1-2%. Located in the Nanaimo Mining District of 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, Cascade and Bluebell claims area lies within a 50-kilometer-long copper belt northwest of the Island Copper mine.
British Columbia Nickel Project
Hard Nickel 4 and Nickel 100 Claims
The Company has entered into an Option Agreement with Nickel Rock Resources to acquire an 80% interest in 6 mineral claims in the Mount Sidney Williams area (Hard Nickel 4) covering 1863 hectares immediately south of and adjacent to the Decar Project and the Mitchell Range area (Nickel 100) covering 8659 hectares, located in Northern British Columbia. Three of the claims are subject to 2% NSR, including the Hard Nickel 4 claim and the two southernmost claims of the Nickel 100 claims. The acquisition is subject to final Exchange approval.
On Behalf of the Board of Directors
“Greg Reimer”
Greg Reimer, President & CEO
778-945-2656
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.
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