Grid Metals Announces Strategic $4 Million Private Placement
Grid Metals Announces Strategic $4 Million Private Placement
Not for distribution to United States Newswire Services or for dissemination in the United States
October 10, 2025 TORONTO -- Grid Metals Corp. (TSXV: GRDM; OTCQB: MSMGF) ("Grid" or the
"Company") is pleased to announce a proposed non-brokered private placement for aggregate
gross proceeds of up to C$4,027,158 (the “Offering”). The Offering will consist of the issuance of
common shares (“Common Shares”) to a strategic investor (the “Investor”) and an existing
institutional shareholder and the issuance of flow-though shares of the Company to charitable
purchasers (the “CFT Shares”). The Offering is expected to be completed in two tranches.
The first tranche (the “First Tranche”) is expected to consist of the issuance of 14,000,000
Common Shares to the Investor at a price of C$0. 12 per Common Share for aggregate gross
proceeds of C$ 1,680,000. The second tranche (“Second Tranche”) is expected to consist of the
issuance of up to 7,060,903 Common Shares to the Investor and an existing institutional
shareholder at a price of C$0.12 per Common Share and up to 7,575,000 CFT Shares to charitable
purchasers at a price of C$0.198 per CFT Share, for gross proceeds of up to C$ 2,347,158 under
the Second Tranche. Each CFT Share will be issued as a “flow-through share” within the meaning
of the Income Tax Act (Canada).
Robin Dunbar, CEO of Grid Metals, commented, “Grid Metals is very excited to welcome an
investment by a strategic investor to progress our Falcon West Cesium Property. We believe that
Falcon West could be a globally important source of cesium to meet the demand for this highly
rare and strategic metal in the near future. We look forward to the start of drilling at Falcon
West.”
The gross proceeds of the Offering will be used to finance exploration, primarily at the Company’s
Falcon West cesium project and within the Bird River Belt in southeastern Manitoba targeting
nickel, copper and PGM targets, as well as for general corporate purposes with respect to the
proceeds raised from the issuance of Common Shares. There are no warrants or finder’s fees
associated with the Offering.
The proceeds from the issuance of the CFT Shares are intended to be used for exploration of the
Company’s property portfolio in Manitoba (primarily the Falcon West Cesium Property) and will
be used to incur "Canadian exploration expenses" that qualify as “flow -through mining
expenditures” as defined in the Income Tax Act (Canada), and for Manitoba purchasers, the CFT
Shares will be eligible for the 30% Manitoba Mineral Exploration Tax Credit ( the “ Qualifying
Expenditures”). The Company will renounce all the Qualifying Expenditures in favour of the
subscribers of the CFT Shares effective December 31, 2025.
The First Tranche and Second Tranche are expected to close on or about October 1 5, 2025 and
October 30, 2025, respectively. Closing of the Offering is subject to customary closing conditions,
including the completion of definitive documentation and receipt of applicable regulatory
approvals (including approval of the TSX Venture Exchange). The Common Shares and CFT Shares
will be subject to a hold period of four months and one day from issuance in accordance with
applicable securities laws.
In connection with closing of the Firs t Tranche, the Company expects to enter into an investor
rights agreement with the Investor , pursuant to which the Company will grant the Investor
certain rights , provided that it maintains stipulated ownership thresholds in the Company,
including information rights with respect to its properties, participation rights in respect of future
equity issuances and the right to nominate a member of the Company’s board of directors.
The securities being offered have not been, nor will they be, registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or
for the account or benefit of, U.S. persons absent registrati on or an applicable exemption from
the registration requirements. This news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
About Grid Metals Corp.
Grid Metals is focused on exploration and development in southeastern Manitoba with four key
projects in the Bird River area.
1) The Makwa Property (Ni -Cu-PGM-Co), which is subject to an Option and Joint Venture
Agreement with Teck Resources Limited (“Teck”) . Teck can earn up to a 70% interest in
Makwa by incurring a total of CAD$17.3 million, comprising project expenditures
(CAD$15.7 million) and cash payments or equity participation (CAD$1.6 million) with Grid.
Makwa is located on the south arm of the Bird River Greenstone Belt.
2) The Mayville Property (Cu-Ni) is located on the north arm of the Bird River Greenstone
Belt. The property is owned subject to a minority interest.
3) The Falcon West Property (Li -Cs) is located 110 km east of Winnipeg along the Trans -
Canada highway and contains highly anomalous cesium values in a number of historical
drill holes including 2.2 m at 15.0% Cs2O and 3.2 m at 4.6% Cs2O.
4) The Donner Property (Li-Cs) is adjacent to the Mayville Property, and Grid owns 75% of
the project. Grid announced a cesium purchase agreement with Tanco on February 18,
2025.
All of the Company’s southeastern Manitoba projects are located on the ancestral lands of the
Sagkeeng First Nation with whom the Company maintains an Exploration Agreement.
On Behalf of the Board of Grid Metals Corp.
For more information about the Company, please see the Company website at
www.gridmetalscorp.com or contact:
Robin Dunbar – President, CEO & Director – [email protected]
Brandon Smith – Chief Development Officer – [email protected]
David Black – Investor Relations – [email protected]
CAUTIONARY NOTE REGARDING FORWAD-LOOKING STATEMENTS
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) (togethe r, "forward-looking statements"). Such forward -looking
statements include the Company’s closing of the proposed Offering, timing of completion of the closing of
the First Tranche and Second Tranche, intended use of proceeds and receipt of regulatory approvals . 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 forwar d- 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.sedparplus.ca.
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.