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Grid Metals Corp. Closes Cad $6.3 Million Funding Agreements With Lithium Royalty Corp.

Grid Metals Corp. Closes Cad $6.3 Million Funding Agreements With Lithium Royalty Corp.

01/14/22, 7:00 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/CA.svgtoronto
TORONTO, ON / January 14, 2022 / GRID METALS CORP. (TSXV:GRDM)(OTCQB:MSMGF) ( "Grid " or the "Company") today announced it has closed its previously announced financing ( the "Transaction") with Lithium Royalty Corp. ("LRC") (a leading pure play battery royalty and streaming company). The Transaction consists of a private placement financing, royalty sales on two properties pertaining to lithium minerals and asset sales of 25% interests in lithium rights on the two properties ( Mayville Lithium and Campus Creek) Total funding to Grid in connection to the proposed Transaction is approximately CAD$6.3 million

Company Info

Company
Grid Metals
Location
toronto, ontario, canada
Additional Info
Grid Metals Corp. has a portfolio of exploration and development stage properties focused on battery metals which are located in the Provinces of Manitoba and Ontario, Canada. Grid's lithium assets are the Mayville Lithium property which covers Donner Lake lithium pegmatites located on the north arm of the Bird River Greenstone Belt and in Ontario the Company has an option on the Campus Creek Lithium Property near Ignace Ontario. Grid also has several other properties including the Makwa-Mayville Ni-Cu-PGM-Cobalt project in Manitoba which has a NI 43-101 compliant nickel copper PGM cobalt resource included in a 2014 PEA; the East Bull Lake Palladium Project near Sudbury Ontario and the Bannockburn Nickel Project south of Timmins Ontario. Dave Peck P.Geo is the qualified person for Grid Metals for purposes of National Instrument 43-101 and has reviewed the contents of this press release. To find out more about Grid Metals Corp., please visit www.gridmetalscorp.com. On Behalf of the Board of Grid Metals Corp.Robin Dunbar - President, CEO & DirectorTelephone: 416-955-4773 Email: rd@gridmetalscorp.comDavid Black - Investor Relations Email: info@gridmetalscorp.com We seek safe harbour.This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements include the Company's closing of the proposed financial transactions, sale of royalty and property interests. the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward- looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, metallurgical risk, currency fluctuations, fluctuations in the price of nickel, cobalt, copper and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com. Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.