Grid Battery Closes Private Placement
NEWS RELEASE
Grid Battery Closes Private Placement
Coquitlam, BC – September 21, 2023- Grid Battery Metals Inc. (the “Company” or “Grid
Battery”) (TSXV: CELL, OTCQB: EVKRF, FRA: NMK2) announces that it has closed a non-brokered
private placement financing offering of 4,000,000 units (“Units”) at a price of CAD$0.12 per Unit for
gross proceeds of CAD$240,000.
Each Unit is comprised of one common share and one share purchase warrant (“Warrant”). Each
Warrant will entitle the holder thereof to purchase one additional common share of the Company at
an exercise price of CAD$0.155 per share for a period of five years from closing, subject to TSX
Venture Exchange (“Exchange”) approval.
The Company also paid finder fees in the amount of 400,000 shares in connection with the private
placement. The finder fees are subject to Exchange approval.
All securities issued in connection with the private placement are subject to a four-month and a day
hold period expiring on January 22, 2024 in accordance with applicable Canadian Securities Laws.
The proceeds of the Private Placement will be used for exploration and development and for general
working capital purposes.
About Grid Battery Metals Inc.
Grid Battery Metals Inc. is a Canadian based exploration company whose primary listing is on the TSX
Venture Exchange. The Company’s maintains a focus on exploration for high value battery metals
required for the electric vehicle (EV) market. www.gridbatterymetals.com.
About Texas Springs Property
The Company owns a 100% interest in the Texas Spring Property which consists of mineral lode
claims located in Elko County, Nevada. The Property is in the Granite Range southeast of Jackpot,
Nevada, about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in volcanic
tuff and tuffaceous sediments of the Humbolt Formation.
The Texas Spring property adjoins the southern border of the Nevada North Lithium Project - owned
by Surge Battery Metals Inc. (“Surge”) ( TSXV: NILI, OTC: NILIF ) and comprised of 303 mineral
claims. Surge's first round of drilling identified strongly mineralized lithium bearing clays. The
average lithium content within all near surface clay zones intersected in the 2022 drilling program,
applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29, 2023 ). More recent results
have shown higher grade lithium up to 8070 ppm on this property after initial drilling (Press release
September 12, 2023).
Grid Battery Metals Inc..
3028 Quadra Court
Coquitlam, BC, V3B 5X6
604- 428-5690
www.gridbatterymetals.com
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About Clayton Valley Lithium Project
The Company owns a 100% interest in 113 lithium lode and placer claims covering over 640 hectares
in Clayton Valley. Clayton Valley is a down-dropped closed basin formed by the Miocene age Great
Basin extension and is still active due to movement along the Walker Lane structural zone. As a
result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from
multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-old
Long Valley Caldera system and related events. These ash layers are thought to contribute to the
lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed
lithium rich clay deposits on the east side of Clayton Valley.
Volt Canyon Lithium Property
The Company owns a 100% interest in 80 placer claims covering approximately 635 hectares of
alluvial sediments and clays located 122 km northeast of Tonopah, Nevada.
About the British Columbia, Nickel Projects
The Mount Sidney Williams Group consists of three claim blocks with a total area of 10,569 hectares
in the area surrounding Mount Sidney Williams, both adjoining and near the Decar project of FPX
Nickel Corp., located 100 kilometres northwest of Fort St. James, B.C., in the Omineca mining division.
Metallic mineralization includes nickel, cobalt, and chromium. At least some of the nickel
mineralization occurs as awaruite. The Mitchell Range Group area claim consists of one claim block
covering 8,659 hectares with demonstrated metallic mineralization including nickel, cobalt, and
chromium. Nickel cobalt mineralization has not been well explored, but the presence of awaruite has
been documented.
On Behalf of the Board of Directors
“Tim Fernback”
Tim Fernback, President & CEO
Contact Information:
Email: [email protected]
Phone: 604- 428-5690
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.