Northwire Canada EditionTuesday, August 11, 2026
Sign inSubscribe
Northwire
⌕
CN 0.190 +18.8% URE 1.98 +2.1% ALS 62.34 −1.3% AAUC 30.98 +1.6% RYR 0.190 −5.0% ECU 1.77 −4.3% GLAD 3.34 +2.5% IMG 25.63 +0.3% RUSH 0.080 +14.3% HMMC 6.76 +4.0% APX 0.060 +0.0% CBLT 0.050 +0.0% AIR 0.065 +8.3% PRU 5.54 +1.8% TOM 0.160 +14.3% QCX 0.235 +6.8% CN 0.190 +18.8% URE 1.98 +2.1% ALS 62.34 −1.3% AAUC 30.98 +1.6% RYR 0.190 −5.0% ECU 1.77 −4.3% GLAD 3.34 +2.5% IMG 25.63 +0.3% RUSH 0.080 +14.3% HMMC 6.76 +4.0% APX 0.060 +0.0% CBLT 0.050 +0.0% AIR 0.065 +8.3% PRU 5.54 +1.8% TOM 0.160 +14.3% QCX 0.235 +6.8%
Financings

Grit Metals to issue 625,000 shares for debt of $75,000

By The Northwire Desk — AI Analysis Nov 26, 2025 · 04:59 FIN · 0.12 Grit Metals Corp.
FIN · Price

Executive Summary

  • Grit Metals Corp. has entered into a debt settlement agreement with Vector Geological Solutions Inc. to settle $75,000 in outstanding indebtedness for geological consulting services.
  • The company will issue 625,000 common shares at a deemed price of 12 cents per share to satisfy the debt in full.
  • The Board determined this settlement preserves cash for working capital and strengthens the balance sheet, pending TSX Venture Exchange approval.

Key Details

  • Counterparty: Vector Geological Solutions Inc. (arm's-length party).
  • Debt Amount: $75,000 owing for geological consulting services.
  • Consideration: 625,000 common shares.
  • Deemed Price: 12 cents per share.
  • Purpose: Full satisfaction of outstanding indebtedness; preservation of cash for working capital and strengthening of the balance sheet.
  • Regulatory Status: Subject to TSX Venture Exchange approval.
  • Share Restrictions: All shares issued are subject to a hold period of four months and one day from issuance.

Notable Quotes

  • "The board of directors has determined that completing the debt settlement is in the best interests of the company as it will preserve cash for working capital purposes and strengthen the company's balance sheet."
Read the original news release →

More from Grit Metals Corp.

Jul 28, 2026 · 03:03

Grit’s maiden drill program yielded no economic lithium grades, though new boulder targets remain under evaluation.

Drill Results May 27, 2026 · 09:01

Execution Confirmed, Value Awaiting Assays

Drill Results Mar 23, 2026 · 17:45

Grit Metals begins 2,500 m diamond drilling program

Drill Results Mar 23, 2026 · 08:01

Grit Metals moves from review to drill bit as maiden Finland lithium program commences

Drill Results Mar 02, 2026 · 11:21

Grit completes exploration review at Central Finland

Drill Results Mar 02, 2026 · 03:06

Grit Metals Prepares for Maiden Drill Program in Finland’s Emerging Lithium District

Drill Results