Fuse Battery Metals Updates on Subscription Receipt Financing Details

Fuse Battery Metals Inc. has provided an update regarding its amended subscription receipt financing, as part of its transition from a mining exploration entity to a technology company. The company secured conditional approval from the TSX Venture Exchange and shareholders for a reverse takeover with Pointor AI, reclassifying it as a Tier 2 Technology Company.

To aid this transition, Fuse plans a private placement financing to raise between CAD$2 million and CAD$3.5 million. Each subscription receipt, priced at CAD$0.05, will convert into a common share upon completion of the transaction. This move aims to raise capital primarily for R&D, marketing, legal, and operational costs.

Additionally, a stock option grant will issue 13,795,353 incentive stock options for a five-year term. Following transaction completion, Fuse's capital structure will expand significantly, depending on the final proceeds of the financing endeavor.