Grid Metals Announces TSX Venture Approval for Falcon West Cesium Project Joint Venture

Grid Metals Corp. (GRDM) has received conditional approval from the TSX Venture Exchange for its joint venture with Avenir Minerals, a subsidiary of Agnico Eagle Mines, concerning the Falcon West Cesium Property. The transaction, initially announced on July 20, 2026, grants Avenir an initial 15% interest for C$3,750,000 in cash, while Grid retains an 85% interest and serves as operator.

Avenir holds options to increase its stake to 30% upon completion of a preliminary economic assessment or mine plan, and to subscribe for up to 19.99% of Grid's shares following a NI 43-101 mineral resource estimate. The approval finalizes the regulatory step required to close the transaction and bring immediate non-dilutive capital to the company.

Grid Metals Corp. (GRDM) issued a procedural follow-up on July 31 to its definitive agreement announced on July 20, confirming the transaction's viability without introducing new strategic or financial upside beyond what was previously disclosed. The deal includes a C$3.75 million cash injection that bolsters Grid’s liquidity, funding the upcoming maiden resource estimate and metallurgical studies for the Falcon West asset without dilution.

The strategic partnership with Avenir and Agnico Eagle serves as an endorsement of the Falcon West asset, particularly given cesium's designation as a critical metal. While the market had already reacted to the initial joint venture announcement, this approval functions as a routine confirmation rather than a market-moving event. Dilution protection clauses, which convert the interest to a 1.0% NSR royalty if the stake falls below 5%, along with cost-sharing arrangements, mitigate downside risk for Grid.

Grid Metals Corp. (GRDM) is a pre-revenue Canadian explorer focused on critical and base metals in Manitoba and Ontario. Its flagship asset is the Falcon West Cesium/Lithium Property, located 110 km east of Winnipeg. The property hosts the Lucy South pegmatite, a highly fractionated LCT system featuring near-surface pollucite mineralization.

The company has completed Phase 1 (67 holes) and Phase 2 (67 holes) of drilling, totaling approximately 6,000 meters. High-grade intercepts include 3.35m @ 20.45% Cs2O and 1.24m @ 27.1% Cs2O.

Grid Metals also holds other assets, including the Makwa (Ni-Cu-PGE, Teck JV), Thompson East (Ni-Cu-PGE, Boliden JV), Mayville, Donner, and Fox River projects. The company is led by CEO Robin Dunbar and VP Exploration Dr. Dave Peck, who bring strong backgrounds in critical metals and major mining companies.