(TheNewswire)
February 9, 2021 - TheNewswire - Vancouver, BC,Canada - S urge Exploration Inc. (“theCompany” or “Surge”) (TSXV:SUR )( OTC:SURJF ) ( FRA:DJ5C) would like to provide itsshareholders with an update on the Company and its proposed futureplans for 2021.
The Company is pleased to report that due to therecently closed $2,400,000 Unitfinancing , the Company now has approximately$3,000,000 in order to carry out its corporate plans for 2021. Withthe conversion of all associated financing warrants from the recentlycompleted Unit offering, the Company could add another $3,200,000 intothe Company’s treasury, allowing it to be fully financed for 2021and beyond.
“We are very happy that our shareholders continue tosupport our company and its exploration programs in Canada” commentsMr. Richard Wilson, President & CEO of Surge. “The funds thatwe have received recently will go towards rebranding the Company andfocusing on projects for high value battery metals required for theelectric vehicle (EV) market that complement our CaledoniaSilver-Copper exploration project in British Columbia. Here, theCompany is actively looking for both established and prospectiveexploration projects that seek high value metals such as nickel,lithium and cesium.” Mr. Wilson continues, “We have both theteam and the funds in place to pursue additional mineral explorationassets of high quality, and we plan to build a much larger mineralexploration company focussed on several key metals needed to supportthe manufacturing of high tech products like EVs and mobilephones.”
In additional news, the Company also announces it has granted stockoptions to its directors, officers, and consultants to purchase anaggregate of 4,000,000, common shares in the capital of the Company.The stock options are exercisable for a term of five years at anexercise price of $0.105 per share. All stock options are granted inaccordance with the terms of the Company’s Stock Option Plan and thepolicies of the TSX Venture Exchange and will be subject to a holdperiod of four months and a day.
About Surge Exploration Inc.
The Company is a Canadian-based mineral explorationcompany which has been active in the resource sector in BritishColumbia and elsewhere in Canada.
Vancouver Island Caledonia (PolyMetallic) Project, British Columbia
Surge Exploration Inc. has entered into a PropertyOption Agreement to acquire a 100% interest in seven (7) mineralclaims known as the Caledonia, Cascade and Bluebell, subject to a NSR
between 1-2%. Located in the Nanaimo Mining District ofnorthern Vancouver Island, the claims are adjacent to the jointventure partnership between Freeport-McMoRan and Northisle Copper and Gold Inc. Under the terms of this joint venture partnershipagreement, Freeport-McMoRan can earn up to a 65% withC$24 million in exploration expenditures over sevenyears. Freeport-McMoRan is currently one of theworld’s largest copper producers.
On Behalf of the Board ofDirectors
“Rick Wilson”
Richard Wilson
President & CEO
778-945-2656
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. This news release may containforward?looking statements which include, but are not limited to,comments that involve future events and conditions, which are subjectto 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 propertytitles, availability of funds, and others are forward?looking.Forward?looking statements are not guarantees of future performanceand actual results may vary materially from those statements. Generalbusiness conditions are factors that could cause actual results tovary m
Copyright (c) 2021 TheNewswire - All rights reserved.