MegaWatt Lithium and Battery Metals Corp. announced a non-brokered private placement to issue 4,300,000 common shares at an issue price of CAD 0.10 per share for the gross proceeds of CAD 430,000 and 6,000,000 concurrent placement of common shares at an issue price of CAD 0.10 per share for the gross proceeds of CAD 600,000; aggregate gross proceeds of CAD 1,030,000 on January 23, 2024. The offering is expected to close in one or more closings and is expected to close the first tranche on or about Jan. 31, 2024. Closing of the offering is subject to certain conditions, including receipt of all necessary corporate and regulatory approvals, including the approval of the Canadian Securities Exchange. There is no minimum concurrent private placement and closing of the offering is not conditional upon the closing of the concurrent private placement. The closing of the concurrent private placement may take place in one or more tranches as determined by the company. All securities issued in connection with the concurrent private placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The company may pay a finder's fee on the offering and/or on the concurrent private placement within the amount permitted by the policies of the CSE.

On January 25, 2024, the company announced that it intends to pay a cash finder's fee of up to 7% of the gross proceeds raised under the offering from subscribers directly introduced to the company by eligible finders. In addition, the company intends to issue to such eligible finders non-transferable finders' warrants of up to 7% of the number of shares sold to such subscribers. Each finders' warrant shall entitle the holder to acquire one share at a price of CAD 0.11 per share for a period of 12 months.

On January 30, 2024, the company announced that offering is expected to close in one or more closings and is expected to close the first tranche on or about January 31, 2024. Closing of the Offering is subject to certain conditions including receipt of all necessary corporate and regulatory approvals including the approval of the Canadian Securities Exchange. The aggregate of the Offering and the Concurrent PP shall be a minimum of 8,000,000 Shares for minimum gross proceeds of CAD 800,000. All securities issued in connection with the Concurrent PP will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.