Grounded People Announces Non-Brokered Private Placement and Strategic Review

Executive Summary

• Grounded People Apparel Inc. announced a non‑brokered private placement of up to 10,000,000 units at $0.10 per unit, targeting gross proceeds of up to $1 million.
• Each unit consists of one common share and half of a common‑share purchase warrant (full warrant allows purchase of one share at $0.12 for 36 months).
• Net proceeds are earmarked for general working capital and to fund the company’s strategic review, including evaluation of mining and exploration opportunities.

Key Details

• Units Offered: Up to 10,000,000 units at $0.10 per unit.
• Gross Proceeds Target: Up to $1,000,000.
• Unit Composition: 1 common share + ½ warrant (full warrant = right to purchase 1 share at $0.12).
• Warrant Terms: Exercise price $0.12; exercisable for 36 months from issuance.
• Use of Proceeds: General working capital and support for strategic review, including preliminary technical assessments, due diligence, and potential acquisition initiatives in mining/exploration sectors.
• Regulatory Conditions: Subject to customary closing conditions and approval by the Canadian Securities Exchange; securities will be subject to a statutory hold period of four months and one day.
• Forward‑Looking Statement: No guarantee that the placement will close on proposed terms or that any strategic initiative will result in a completed transaction.

Notable Quotes

“This financing is intended to provide the Company with additional flexibility as we continue to review strategic alternatives,” said Maximilian Justus, Chief Executive Officer.
“Our focus remains on disciplined capital allocation while we evaluate opportunities that could support a more sustainable business going forward.”