Grounded Lithium Commences Trading on the OTCQB Market
Grounded Lithium Commences Trading on the OTCQB
Market
CALGARY, AB
,
Dec. 9, 2022
/CNW/ - (TSXV: GRD) (OTCQB: GRDAF) – Grounded Lithium Corp. ("
GLC
" or the
"
Company"
) is pleased to announce that its common shares (the "
Common Shares
") will commence trading on the
OTCQB Venture Market ("
OTCQB
") on
December 9, 2022
under the ticker symbol "GRDAF". U.S. investors can find
current financial disclosure and Real-Time Level 2 quotes for the Company on
https://www.otcmarkets.com/
. The
Common Shares will continue to trade on the TSX Venture Exchange under the symbol "GRD". The OTCQB provides
value and convenience to U.S. investors, brokers and institutions seeking to trade the Common Shares. Alongside this
effort, the Company also received approval for DTC Eligibility which acts as a clearing house to settle trades in
the
United States
, furthering the liquidity of the Common Shares.
"GLC's business plan continues to advance quickly and the trading status now of the Company's Common Shares on
the OTCQB in mere months after obtaining a public listing in
Canada
is something we believe reflects the quality and
depth of our team," commented
Gregg Smith
, President & CEO. "We continue to look forward to advance the value
proposition for all stakeholders."
Greg Phaneuf
, VP Finance & CFO added, "The OTCQB trading qualification
provides access to a much larger capital base in
the United States
together with greater liquidity for the Common
Shares and visibility in the North American market all of which are expected to enhance capital formulation strategies to
fund key valuation milestone events."
Dorsey & Whitney LLP acted as the Company's OTCQB sponsor.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and
the Pink® Open Market for 11,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, PTC
Market Group Inc. connects a diverse network of broker dealers that provide liquidity and execution services. The
company enables investors to easily trade through the broker of their choice and empower companies to improve the
quality of information available for investors. To learn more about how OTC Markets Group Inc. creates better
informed and more efficient markets, visit
www.otcmarkets.com
.
Market Support Agreement
The Company has retained Integral Wealth Securities Limited ("
Integral
") to provide market making services for trading
on the TSX Venture Exchange ("
TSXV
") in accordance with the TSXV policies. Integral will trade the securities of the
Company on the TSXV for the purpose of maintaining an orderly market. In consideration of the services provided by
Integral, the Company will engage Integral for a minimum three month period, followed by a month-to-month contract
should the Company wish to continue with the services. Assuming an engagement beyond 3 months, fees are set at
$6,000
per month. Integral and GLC are unrelated and unaffiliated entities. Integral will not receive shares or options
as consideration. The capital used for market making will be provided by Integral.
About Grounded Lithium Corp.
GLC is a publicly traded lithium brine exploration and development company that controls 2.9 million tonnes of lithium
carbonate equivalent over its focused land holdings in Southwest Saskatchewan. GLC's multi-faceted business model
involves the consolidation, delineation, exploitation and ultimate development of its opportunity base to fulfill our vision to
build a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition
shift.
Qualified Persons
Scientific and technical information contained in this press release has been prepared under the supervision of
Doug
Ashton
, P.Eng,
Idi Ishaya
, P.Eng,
Patou Zeleke
, P.
Eng and Thomas Jerome
, P. Geo, each of whom are a qualified
person within the meaning of National Instrument 43-101 –
Standards of Disclosure for Mineral Projects
.
Forward-Looking Statements
This press release may contain forward-looking statements and forward-looking information within the meaning of
applicable Canadian securities laws. The opinions, forecasts, projections and statements about future events of results,
are forward looking information, forward-looking statements or financial outlooks (collectively, "
forward-looking
statements
") under the meaning of applicable Canadian securities laws. These statements are made as of the date of
this press release and the fact that this press release remains available does not constitute a representation by GLC
that the Company believes these forward-looking statements continue to be true as of any subsequent date. Although
GLC believes that the assumptions underlying, and expectations reflected in, these forward-looking statements are
reasonable, it can give no assurance that these assumptions and expectations will prove to be correct. Such
statements include, but are not limited to, statements regarding the potential increase in liquidity of the Common
Shares, an increase in the Company's visibility the growth of the investor base and the enhancement of capital
formation strategies as a result of the OTCQB listing, achieving project milestones, commercializing GLC's operations,
and GLC's vision of becoming a best-in-class, environmentally responsible, Canadian lithium producer supporting the
global energy transition.
Among the important factors that could cause actual results to differ materially from those indicated by such forward-
looking statements are: GLC's expectation that our operations will be in
Western Canada
, unexpected problems can
arise due to technical difficulties and operational difficulties which impact the production, transport or sale of our
products; geographic and weather conditions can impact the production; the risk that current global economic and
credit conditions may impact commodity prices and consumption more than GLC currently predicts; the failure to obtain
financing on the terms set out herein or other reasonable terms; risks relating to the ability of the Company to obtain
required approvals to complete the Offering on the terms announced; volatility in the trading price of the common
shares of the Company; the risk that unexpected delays and difficulties in developing currently owned properties may
occur; the failure of drilling to result in commercial projects; unexpected delays due to the limited availability of drilling
equipment and personnel; and the other risk factors detailed from time to time in GLC's periodic reports. GLC's
forward-looking statements are expressly qualified in their entirety by this cautionary statement.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any
jurisdiction.
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 news release.
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Grounded Lithium Corp
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For further information:
Gregg Smith, President & CEO, [email protected]; Greg Phaneuf, VP
Finance & CFO, [email protected], Phone:
587.319.6220
CO: Grounded Lithium Corp
CNW 06:00e 09-DEC-22