Fuse Cobalt Announces Effective Date of Name Change to Fuse Battery Metals Inc.

Rhea-AI Summary

Fuse Cobalt Inc. has announced a name change to Fuse Battery Metals Inc., effective February 2, 2023. The trading symbol FUSE remains unchanged, while the new CUSIP number will be 36112C102. The decision, ratified by the Board of Directors on January 19, 2023, aligns with the company's focus on high-value metals essential for battery manufacturing. Fuse's exploration properties include the Glencore Bucke and Teledyne Projects, both in Ontario, which have significant historical cobalt production potential. Further news regarding a new website and social media presence will be announced soon.

Positive

• The name change to Fuse Battery Metals Inc. reflects a focused rebranding strategy.
• The company maintains its trading symbol FUSE, ensuring continuity for investors.
• The Glencore Bucke and Teledyne Projects have robust historical cobalt production, indicating potential future revenues.

Negative

• None.

COQUITLAM, BC / ACCESSWIRE / January 31, 2023 / Fuse Cobalt Inc. ("the Company" or "Fuse") (TSXV:FUSE)(OTCQB:FUSE)(FRA:43W3) announces that further to its news release dated January 24, 2023, that as permitted by the Company's Articles, the Board of Directors approved by consent resolution the name change to "Fuse Battery Metals Inc." on January 19, 2023

The Company's shares will commence trading under the new name effective, Thursday, February 2, 2023. The Company's trading symbol "FUSE" will remain the same. The Company's new CUSIP number will be 36112C102.

The Company will issue a further news release announcing the launch date of its new website and social media sites.

About Fuse Cobalt Inc. https://fusecobalt.com/

Fuse Cobalt Inc. is a Canadian based exploration company that trades under the symbol FUSE on the TSX Venture Exchange. The Company's focus is on exploration for high value metals required for the manufacturing of batteries.

Ontario Cobalt Properties

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. The Glencore Bucke Property consists of 16.2 hectares and sits along the west boundary of Fuse's Teledyne Cobalt Project. The Company also owns a 100% interest, subject to a royalty, in the Teledyne Project located near Cobalt, Ontario. The Teledyne Property adjoins the south and west boundaries of claims that hosted the Agnico Mine.

Glencore Bucke/Teledyne Property

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, the Agaunico Mine produced a total of 4,350,000 lbs. of cobalt ("Co"), and 980,000 oz of silver ("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 to depressed Co prices and over-supply (Thomson, 1964). The Glencore property is 100% owned by 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 mining claims totaling 79.1 ha, and 46 unpatented mining claim cells totaling approximately 700 ha. The Property is easily accessible by highway 567 and a well-maintained secondary road.

Over $25 million Can 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 going down 500 ft parallel to the main cobalt mineralized vein. The Teledyne Property is subject to a production royalty in favor of New Found Gold and an off-take agreement in favor of Glencore Canada Corp., while the Glencore Bucke Property is subject to a back-in provision, production royalty, and an off-take agreement in favor of Glencore Canada Corp. Glencore PLC is the world's largest producer of cobalt. A significant portion of the cobalt that was produced at the Agaunico Mine was located 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 within 125 ft (38.1 m) above the Huronian/Archean unconformity. Stoping widths of up to 50 ft (15.2 m) were not unusual at the Agaunico Mine (Cunningham-Dunlop, 1979).

On Behalf of the Board of Directors

"Tim Fernback"
Tim Fernback, Interim President & CEO

Contact Information:

Email: info@fusecobalt.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. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to 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 property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.

SOURCE: Fuse Cobalt Inc.

View source version on accesswire.com:
https://www.accesswire.com/737375/Fuse-Cobalt-Announces-Effective-Date-of-Name-Change-to-Fuse-Battery-Metals-Inc

FAQ

What is the new name of Fuse Cobalt Inc. as of February 2023?

Fuse Cobalt Inc. has changed its name to Fuse Battery Metals Inc.

When will Fuse Battery Metals Inc. start trading under its new name?

The trading under the new name will commence on February 2, 2023.

Will the trading symbol for Fuse Battery Metals Inc. change?

No, the trading symbol FUSE will remain the same.

What is the significance of the Glencore Bucke Property for Fuse Battery Metals Inc.?

The Glencore Bucke Property has historical cobalt production, which may contribute to future revenues.

What is the new CUSIP number for Fuse Battery Metals Inc.?

The new CUSIP number is 36112C102.