Fuse Battery Metals Inc. (TSXV: FUSE, OTC: FSBMF, FRA: 43W3) has announced a non-brokered private placement of 12,891,200 units priced at $0.05 per unit, targeting gross proceeds of $644,560. The offering includes full warrants exercisable at $0.05 per share for five years, giving investors potential additional upside. The announcement also confirms the wind-down of a previously terminated subscription receipt financing, with the company disclosing it has returned the majority of subscriber funds.

Key Points

  • Fuse Battery Metals Inc. (TSXV: FUSE, OTC: FSBMF, FRA: 43W3) is a Canadian cobalt and battery metals exploration company based in Maple Ridge, BC.
  • The company is proposing a non-brokered private placement of 12,891,200 units at $0.05 per unit for gross proceeds of $644,560, subject to TSX Venture Exchange approval.
  • Insiders are expected to subscribe for 272,040 units representing $13,602 in gross proceeds; all securities carry a four-month-and-one-day statutory hold period.
  • Investors will be watching for TSX Venture Exchange approval of the placement and confirmation of closing.

Unit Structure and Warrant Terms for the Fuse Battery Private Placement

Each unit in the private placement comprises one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at $0.05 per share for five years from the closing date. The company also proposes to issue 30,000 common shares at a deemed value of $0.05 per share as finder's fees, subject to Exchange approval. All securities issued under the placement are subject to a statutory hold period of four months and one day from issuance, consistent with applicable Canadian securities laws.

Intended Use of Proceeds from the $644,560 Financing

Fuse Battery Metals states it intends to use the net proceeds to pursue strategic acquisition opportunities, evaluate potential transactions, and support ongoing corporate operations, working capital requirements, and future business initiatives. The release does not provide a more detailed breakdown of how funds will be allocated across these categories. Insiders are expected to participate for an aggregate of $13,602, constituting a related party transaction under Multilateral Instrument 61-101, with the company relying on exemptions from formal valuation and minority shareholder approval requirements.

Return of Funds Following Terminated Subscription Receipt Financing

In connection with a subscription receipt financing announced as terminated on September 22, 2026, Fuse Battery confirms it raised $673,605 under that prior arrangement. None of those funds were deployed by the company. As of October 26, 2026, the company had returned $660,003 to subscribers. The remaining $13,602 is attributable to an insider who requested those funds remain on deposit and be applied toward his subscription in the new placement, avoiding foreign exchange conversion costs given the insider's US residency. This arrangement remains subject to Exchange approval.