NILI.v closes 17% up With High Volume Surge Battery Metals Inc. (ticker: NILI.v or NILIF for US investors) closed 17% up on the TSXV today with over 6x its average volume. This puts the battery metal junior 41% up over the last 5 days and 138% over the month.
NILI controls a nickel-iron alloy project in British Columbia and three lithium projects in Nevada. Their flagship project is the Nevada North Lithium Project, covering 243 mineral claims in the Granite Range area. NILI plans to carry out a 7-hole drill program on the expansive site to explore and assess the high-grade lithium clay discovery made there previously.
Late last week NILI announced that it is conducting a non-brokered private placement to raise up to $7,160,000. Source: https://surgebatterymetals.com/surge-battery-metals-announces-7160000-non-brokered-private-placement-including-a-strategic-equity-investment-from-american-lithium-corp/
American Lithium Corp, a lithium exploration and development company, will make a strategic equity investment as part of the private placement. After the completion of the private placement, American Lithium Corp will hold approximately 9.9% of Surge's common shares on a non-diluted basis. Additionally, Ted O'Connor, Executive VP of American Lithium Corp, will join Surge's Board of Directors.
NILI plans to use the proceeds from the private placement to advance and develop their Nevada North Lithium Project, as well as for general working capital purposes. Check out the article above to be directed to NILI's website for more information. Posted on behalf of Surge Battery Metals.