Grid adds to Technical Team and makes Grants under New Equity Incentive Plan
Grid adds to Technical Team and makes Grants under
New Equity Incentive Plan
February 27, 2020 z The Board of Directors of Grid Metals Corp. (GRDM: TSX-V)
(“Grid ” or the “Company”) is pleased to announce that the Company has entered into a
geophysical contract with Quantec Geoscience Limited to complete a Spartan
magnetotelluric survey at its East Bull Lake palladium property located 80 km west of
Sudbury, Ontario. The survey is being designed to delineate drill targets associated
with favourable rock types and potential feeder structures . The survey is currently
planned to commence in mid March and will take approximately 4 -6 weeks . The
Company will announce a timetable for drilling to follow.
The Company is also pleased to announce it has signed a consulting contract with
Stevens Geoscience Inc. to oversee the design and interpretation of the Spartan MT
survey and provide ongoing technical support on future programs . The principal, Kevin
Stevens, is a highly respected geophysicist who has worked closely in the past with Dr.
Dave Peck, Grid’s VP of Exploration and Business Development , on palladium
exploration programs at the Lac des Isle Mine and elsewhere . Kevin brings a
tremendous amount of technical expertise to Grid and played a key role in several major
magmatic ore deposit discoveries in the Sudbury and Thunder Bay Mining Districts.
The Company has granted a total of 2,62 0,000 incentive stock options and restricted
share units to consultants, Officers and Directors of the corporation, exercisable to
purchase up to 2,620,000 common shares in the capital of the Company until February
2025 at an exercis e price of $0.25 per share. Certain of the options and restricted
share units are subject to vesting periods. The incentive stock options were granted in
accordance with the Company’s Stock Option Plan and are subject to regulatory
approval.
Grid Metals to Present at PDAC.
The Company will be exhibiting and presenting at the 2020 PDAC convention at the
Metro Toronto Convention Centre. Dr. Dave Peck, who recently joined the Company as
Vice President Exploration and Business Development , will be presenting at the PGM
and Nickel Session on the Company’s plans for exploration at the East Bull Lake
property. The presentation will be at Room 801B South Bu ilding at 10:45 am on
Tuesday March 3, 2020. Grid will be exhibiting at Booth #2122 at the Investors
Exchange from March 1 – 4.
About Grid Metals Corp.
Grid Metals Corp. is an exploration and development Company that has a diversified
portfolio of pro jects in the nickel -copper-platinum group metal sectors. These
commodities are vital to the emerging battery metals, energy storage and automotive
sectors. All of Grid's projects are located in secure North American mining jurisdictions.
The Company is foc used on timely advancement of its property portfolio through
prudent exploration and development activities.
To find out more about Grid Metals Corp., please visit www.gridmetalscorp.com.
Dave Peck P. Geo is the qualified person for purposes of National Instrument 43 -101
and has reviewed the technical contents of this release.
On Behalf of the Board of Grid Metals Corp.
Robin Dunbar - President, CEO & Director
Telephone: 416-955-4773
Email: [email protected]
David Black - Investor Relations
Email: [email protected]
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 may
include the Company's plans for its properties, 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 it 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.