Grid Metals arranges $4.02-million private placement

Executive Summary

• Grid Metals Corp. announced a strategic non‑brokered private placement targeting up to $4,027,158 in gross proceeds.
• The offering consists of two tranches of common shares at C$0.12 per share and charitable flow‑through (CFT) shares at C$0.198 per share, with no warrants or finders’ fees.
• Proceeds will fund exploration at the Falcon West cesium project and other targets in the Bird River belt, and support general corporate purposes.

Key Details

• Total Gross Proceeds Target: Up to $4,027,158.
• Tranche 1: 14 million common shares @ C$0.12 each → $1.68 M gross proceeds; expected close ~Oct 15 2025.
• Tranche 2:
• Up to 7,060,903 common shares @ C$0.12 each.
• Up to 7,575,000 CFT shares @ C$0.198 each → combined gross proceeds up to $2.347 M.
• Expected close ~Oct 30 2025.
• Share Structure:
• Common shares issued to a strategic investor and an existing institutional shareholder.
• CFT shares issued to charitable purchasers; qualify for the 30% Manitoba mineral exploration tax credit.
• Use of Proceeds:
• Primarily financing exploration at Falcon West cesium property and Bird River belt (targeting Ni, Cu, PGM).
• General corporate purposes related to common‑share issuance.
• CFT proceeds earmarked for Canadian flow‑through mining expenditures; qualifying expenses renounced to CFT subscribers effective Dec 31 2025.
• Holding Period: All issued shares subject to a four‑month‑plus‑one‑day hold period from issuance.
• Investor Rights Agreement: Upon closing of Tranche 1, Grid Metals will enter an agreement granting the investor information rights, participation rights in future equity issuances, and the right to nominate a board member, contingent on maintaining ownership thresholds.
• No Warrants/Finders’ Fees: The placement is structured without additional warrant instruments or finder compensation.

Notable Quotes

“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.” – Robin Dunbar, CEO