Grit Metals arranges $1-million private placement

Executive Summary

• Grit Metals Corp. announced a non-brokered private placement of up to 10 million units at $0.10 per unit, raising up to $1 million in gross proceeds.
• Each unit consists of one common share and one-half of one common share purchase warrant, with warrants exercisable at $0.25 for two years.
• Proceeds are designated for working capital and general corporate purposes, with the offering expected to close in December 2025.

Key Details

• Structure: Non-brokered private placement of up to 10,000,000 units.
• Price: $0.10 per unit.
• Gross Proceeds: Up to $1,000,000.
• Unit Composition: Each unit comprises one common share and one-half of one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to acquire one share at an exercise price of $0.25.
• Warrant Expiry: Two years following the date of issue.
• Use of Proceeds: Working capital and general corporate purposes.
• Closing Date: Expected in December 2025.
• Conditions: Conditional on customary conditions, including approval of the TSX Venture Exchange.
• Resale Restrictions: All securities subject to a four-month and one-day hold period under applicable securities laws.
• Insider Participation: Certain directors, officers, or insiders may acquire units; this is treated as a related party transaction under Multilateral Instrument 61-101.
• Regulatory Filing: A material change report will be filed less than 21 days prior to closing.
• Finder's Fees: Finders' fees or commissions may be payable in connection with the offering.