Fuse Battery Metals Inc. press release

Fuse Battery Announces Non-Brokered Private Placement Financing

2026-10-28

TSXV - TSX Venture Exchange · Lithium · Cobalt · Silver · Nickel · Copper · Zinc · Gold · Canada · Financing

(TheNewswire)

| [](https://fusebatterymetals.com/) | | | [](https://thenewswire.com/api/apps/tnw/r?i=AJ6FoyQA&m=lin) | |

Maple Ridge, BC, October 28, 2026 - TheNewswire– Fuse Battery Metals Inc. (“the Company” or “Fuse”) (TSXV: FUSE, OTC: FSBMF, FRA: 43W3) announces that it is proposing a non-brokered private placement financing of 12,891,200 units (the “Units”) at a price of $0.05 per Unit for gross proceeds of $644,560 (the “Private Placement”). The Private Placement is subject to TSX Venture Exchange (“Exchange”) approval.

Each Unit will consist of one common share in the capital of the Company and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional common share of the Company at an exercise price of $0.05 per share for a period of five years from the date of closing.

In connection with the Private Placement, the Company proposes to issue 30,000 common shares at a deemed value of $0.05 per share as finder’s fees, subject to approval of the Exchange.

All securities issued in connection with the Private Placement will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.

The Company intends to use the proceeds of the Private Placement to pursue strategic acquisition opportunities, evaluate potential transactions, and support ongoing corporate operations, working capital requirements, and future business initiatives.

Insiders of the Company are expected to subscribe for an aggregate of 272,040 Units under the Private Placement, representing gross proceeds of $13,602. Such participation will constitute a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions(“MI 61-101”). The Company expects to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to Sections 5.5(a) and 5.7(a), respectively.

Termination of Subscription Receipt Financing and Return of Subscription Funds

Further to its news release dated September 22, 2026, announcing the termination of the previously proposed subscription receipt financing and reverse takeover transaction, the Company confirms that an aggregate of $673,605 was raised under the terminated subscription receipt financing. In accordance with the terms of the Subscription Receipt Agreement, none of these funds were used by the Company. As of October 26, 2026, the Company had returned an aggregate of $660,003 to subscribers, with the remaining $13,602 attributable to an insider of the Company who has requested that his funds remain in the Company's bank account and be applied directly toward his subscription in the proposed new private placement, subject to the approval of the TSX Venture Exchange. As the insider resides in the United States, returning the funds and subsequently transferring them back to Canada would result in unnecessary foreign exchange conversion costs and potential exchange rate losses.

[]()AboutFuseBattery MetalsInc.https://fusebatterymetals.com

FuseBatteryMetalsInc.isaCanadianbasedexplorationcompanythattradesunderthesymbolFUSE ontheTSXVentureExchange.TheCompany's focusis onexplorationforhighvaluemetalsrequired for the manufacturing of batteries.

[]()OntarioCobaltProperties

Fuse owns a 100% interest its Glencore Bucke Property, situated in Bucke Township, 6 km east- northeast of Cobalt, Ontario, subject to a back-in provision, production royalty and off-take agreement.TheGlencoreBuckePropertyconsistsof16.2hectaresandsitsalongthewestboundary of Fuse’s Teledyne Cobalt Project.The Company also owns a 100% interest, subject to a royalty, in theTeledyneProjectlocatednearCobalt,Ontario.TheTeledynePropertyadjoinsthesouthandwest boundaries of claims that hosted the Agnico Mine.

[]()GlencoreBucke/TeledyneProperty

Situated in Bucke Township, 6 km east-northeast of Cobalt, Ontario the Glencore Bucke Property adjoins, on its northeast corner, the former cobalt producing Agaunico Mine. From 1905 through to 1961,theAgaunico Mine produceda total of4,350,000 lbs. of cobalt (“Co”), and980,000ozofsilver (“Ag”) (Cunningham-Dunlop, 1979). The amount of cobalt produced from the Agaunico Mine is greater than that of any other mine in the Cobalt Mining Camp. Production ceased in 1961 due todepressedCopricesandover-supply(Thomson,1964).TheGlencorepropertyis100%ownedby Fuse Cobalt subject to a back-in provision, production royalty and off-take agreement.

The associated Teledyne Property, located in Bucke and Lorrain Townships, consists of 5 patented miningclaimstotaling79.1ha,and46unpatentedminingclaimcellstotalingapproximately700ha. The Property is easily accessible by highway 567 and a well-maintained secondary road.

Over CAD$25 million has been spent thus far, (2020 dollars inflation-adjusted) on the Teledyne Property resulting in valuable infrastructure including a development ramp and a modern decline goingdown500ftparalleltothemaincobaltmineralizedvein.TheTeledynePropertyissubjecttoa productionroyaltyinfavorofNewFoundGoldandanoff-takeagreementinfavorofGlencoreCanada Corp.,whiletheGlencoreBuckePropertyissubjecttoaback-inprovision,productionroyalty,andan off-takeagreementinfavorofGlencoreCanadaCorp.GlencorePLCistheworld’slargestproducerof cobalt.AsignificantportionofthecobaltthatwasproducedattheAgaunicoMinewaslocated along structures (Vein #15) that extended southward towards the northern boundary of the Teledyne Cobalt Property, currently 100% owned by FUSE. Mineralization was generally located within125ft(38.1m)abovetheHuronian/Archeanunconformity.Stopingwidthsofupto50ft(15.2 m) were not unusual at the Agaunico Mine (Cunningham-Dunlop, 1979).

[]()OnBehalfofthe BoardofDirectors

“Tim Fernback”

[]()TimFernback,President &CEO

ContactInformation:

Email:info@fusebatterymetals.com

Phone: 236-521-0207

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains forward-looking statements, including statements regarding the proposed Private Placement, anticipated closing, receipt of Exchange approval, insider participation and intended use of proceeds. These statements are based on management's current expectations and assumptions, including the availability of financing and receipt of necessary regulatory approvals, and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks include the inability to complete the Private Placement on the terms proposed or at all, delays in obtaining regulatory approvals, and changes in market conditions. Forward-looking statements are not guarantees of future performance. Except as required by applicable securities laws, the Company undertakes no obligation to update these statements.

Completion of the Private Placement is subject to certain conditions, including acceptance by the TSX Venture Exchange. There can be no assurance that the Private Placement will be completed as proposed or at all.

Copyright (c) 2026 TheNewswire - All rights reserved.