Distributed on behalf of Surge Battery Metals
The world needs to get its hands on more lithium supply – and fast. As we know, lithium remains one of the most strategically essential commodities for the global shift to vehicle electrification, clean energy, energy storage, and for the military. That demand growth isn’t expected to cool any time soon. In fact, by 2030, analysts say demand could reach about two to three times the demand seen in 2024 (when demand grew 30%). All of which creates opportunity for companies such as Surge Battery Metals (TSXV: NILI) (OTC: NILIF), but also for Albemarle (NYSE: ALB), Lithium Americas (NYSE: LAC) (TSX: LAC), Sigma Lithium (NASDAQ: SGML) (TSXV: SGML), and Standard Lithium (NYSE: SLI) (TSXV: SLI).
By 2035, demand could grow to 3.5 to 4.2x 2024 levels. By 2040, lithium demand could exceed current 2026 levels by 4.7 to 5.5x in high-adoption scenarios, as noted by Lithium Harvest. “Even if announced projects move forward, supply may still cover only around 85% of demand by 2029, 70-83% by 2035, and 65-75% by 2040, depending on the demand scenario.
That is where the risk becomes clear. The market may look supplied in the short term, but the long-term project pipeline is not keeping pace with the scale and timing of future demand.”
Surge Battery Metals (TSXV: NILI) (OTC: NILIF) Just Announced Strategic Funding to Fast Track the Nevada North Lithium Project
Surge Battery Metals just 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. Mr. Paes-Braga brings directly relevant lithium sector expertise as Founder and CEO of Lithium X Energy Corp. – founded in 2015 at under a $2 million market cap and acquired for C$265 million in an all-cash transaction in 2018 – while Michael Hess brings deep networks across U.S. institutional capital, energy infrastructure, and government relationships essential to advancing a domestic lithium asset of this scale.
In connection with the financing, SAF Group is expected to be granted the right to appoint two members to the Board of Directors of Surge. The appointments reflect SAF’s long-term commitment to the Nevada North Lithium Project and its conviction in Surge's development strategy. Further details regarding the appointees will be announced in due course.
Graham Harris, Chairman of Surge, commented, “This announcement marks a defining moment for Surge. With Nevada North fully funded, upon the successful closing, toward a construction decision, and with Brian and Michael leading our Strategic Advisory Board, we believe that we have the capital, the expertise, and the relationships to move this project at the pace the current environment demands. The United States is focused on developing a secure and sustainable domestic supply of critical minerals. Once constructed, we plan to participate in the domestic supply of lithium through Nevada North.”
Brian Paes-Braga, Strategic Advisor to Surge, commented, “Nevada North is one of our most compelling lithium assets in development. Our investment and technical teams have assessed countless projects over the past 8 years since our exit in Lithium X, resulting in Nevada North standing out in all aspects of what we look for: scale, location, and team. A project with an after-tax NPV8% US $9.17 Billion and a 42-year mine life puts Nevada North in rarefied air. We are looking forward to putting our full weight behind Graham, Greg, and the entire team, a group we have gotten to know well and have a high degree of confidence in.”
Michael Hess, Strategic Advisor to Surge, further commented, “America's dependence on foreign supplies of critical minerals like lithium is a strategic vulnerability that this Administration has been clear about addressing. The Nevada North Lithium Project – an advanced high-grade lithium clay resource in the United States – will be fully funded to a construction decision, which aligns Surge well with that national priority. I am committed to bringing my experience to help Surge realize the full potential of this asset. We are excited for Nevada North to advance at the pace the United States requires to achieve lithium independence.”
Each Unit will consist of one common share of the Company and one common share purchase warrant. Each Warrant will entitle the holder to acquire one additional common share of the Company at an exercise price of $0.90 for a period of three years from the date of issuance. The Company also reserves the right to increase the size of the Offering by up to 10,000,000 additional Units, for aggregate gross proceeds of up to $36,000,000.
The Company intends to use the net proceeds from the Offering for the advancement of the Nevada North Lithium Project, as well as for general working capital and corporate purposes.
In connection with the Offering, the Company may pay eligible finders a cash commission equal to 6% of the gross proceeds raised from subscribers introduced by such finders, in accordance with the policies of the TSX Venture Exchange.
The Offering is expected to close on or around June 20th, 2026. The Offering is expected to be completed pursuant to applicable securities law exemptions and remains subject to the acceptance of the TSXV and all other necessary regulatory approvals. The securities issued pursuant to the Offering will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws.
Insiders of the Company are expected to participate in the Offering, and such participation is considered to be a related-party transaction as defined under Multilateral Instrument 61-101. The related-party transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the transaction does not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101. In considering and unanimously approving the transaction, there were no materially contrary views, abstentions (except for any abstentions required by corporate law) or material disagreements by any director of the company. The company does not anticipate any new control persons as a result of the Offering.
The Company also wishes to provide an update on its previously announced application to list its common shares on the Nasdaq Capital Market. Surge submitted its initial application in May 2026 and continues to advance the listing process. If completed, the proposed Nasdaq listing is intended to complement the Company's existing TSXV listing by increasing visibility with U.S. institutional and retail investors, broadening its shareholder base, and enhancing trading liquidity. Any listing remains subject to satisfaction of Nasdaq's initial listing requirements and receipt of all required regulatory approvals. There can be no assurance that the application will be approved or that a Nasdaq listing will be completed.
The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or U.S. persons, absent registration under the U.S. Securities Act and all applicable U.S. state securities laws or in compliance with an exemption therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Other related developments from around the markets include:
Albemarle, a global leader in providing essential elements for mobility, energy, connectivity and health, announced its results for the first quarter ended March 31, 2026. "Albemarle had a strong start to 2026, with net sales and adjusted EBITDA up year over year. Higher pricing and volumes in Energy Storage and Specialties, along with continued cost and productivity actions, were the key contributors to our results," said Kent Masters, Chairman and CEO. "We also took advantage of our successful cash and portfolio management actions to pay down debt in the quarter, further strengthening our balance sheet and financial flexibility. As the global operating environment remains uncertain, we are focused on the things within our control, including operational excellence, cost and productivity discipline, and cash generation, to enable long-term volume and earnings growth."
Lithium Americas’ President and Chief Executive Officer of Lithium Americas, Jonathan Evans, said, “Construction at Thacker Pass is accelerating toward mechanical completion in late 2027. There are now over 1,300 workers on site as of mid-May and over 2,000 expected at peak construction. In 2025, we emphasized de-risking project execution and made strategic decisions that have enabled us to focus on execution in 2026 – detailed engineering is almost complete, finances have been secured and global supply chain challenges are being well managed At a moment when resilient domestic supply chains are more critical than ever, lithium stands out as a strategic resource underpinning both national security and a reliable energy future. We are grateful for the strong partnerships and support from leaders at the federal and state levels. Recent visits to Thacker Pass by U.S. Senators Catherine Cortez Masto and Jacky Rosen, Nevada Governor Joe Lombardo and the U.S. Department of Energy, underscore a shared commitment to strengthening American supply chains, advancing energy independence and creating meaningful American jobs.”
Sigma Lithium, the largest producer of lithium oxide concentrate in the Americas¹ and dedicated to industrializing socially and environmentally sustainable lithium materials to supply global producers of batteries for energy security, demonstrated the Company’s excellence in environmental performance in a filing with one year of data collected by external experts with measurements demonstrating low levels of dust, vibrations and noise generated by its operations. The solid data series externally collected by experts provides transparent, objective evidence of Sigma Lithium’s environmental track record and directly refutes baseless and unproven claims against the Company made in local Brazilian courts, currently under appeal within jurisdiction of rule of law at the State Courts in Minas Gerais (Tribunal de Justiça de Minas Gerais). The data points are below the stringent legal limits in Brazil, as well as the established standards of the Brazilian Technical Standards Association and Brazil’s National Environmental Council.
Smackover Lithium, a partnership between Standard Lithium Ltd. and Equinor, through subsidiaries of Equinor ASA, announced that it has entered into an engineering, procurement, construction and commissioning agreement with S&B Engineers and Constructors for the Central Processing Facility for the South West Arkansas Project. S&B is an integrated EPC company with proven industrial construction expertise and a strong U.S. and regional presence. S&B will be supported by Hatch Ltd. (“Hatch”), a global engineering, project delivery and professional services firm with extensive experience in mineral resource projects, and specific experience designing and commissioning lithium projects. Hatch will provide design engineering and commissioning support to S&B as a subcontractor. S&B will deliver EPCC services including detailed engineering design, procurement, installation and construction, testing, startup and commissioning for the CPF. This includes receipt of brine (from wellfield), pre-treatment, direct lithium extraction, purification and concentration of the lithium chloride, conversion to a battery-quality lithium carbonate with final product crystallization, drying, micronizing, bagging and handling facilities, and all associated utilities. The CPF will be located on the Project’s 118-acre plot located in Lafayette County, AR.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Surge Battery Metals by Surge Battery Metals. We own ZERO shares of Surge Battery Metals. Please click here for full disclaimer.
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