Grit Metals Completes Debt Settlement
Rhea-AI Summary
Grit Metals announced it has received TSX Venture Exchange approval and settled outstanding indebtedness of $75,000 by issuing 625,000 common shares at a deemed price of $0.12 per share.
All securities issued under the debt settlement are subject to resale restrictions until April 10, 2026 under applicable securities laws.
Positive
- Settled $75,000 of outstanding indebtedness
- Creditor paid by issuance of 625,000 common shares
Negative
- Issued 625,000 new shares, creating shareholder dilution
- Resale restrictions until April 10, 2026 limit immediate liquidity
Vancouver, British Columbia--(Newsfile Corp. - December 10, 2025) - Grit Metals Corp. (TSXV: FIN) (FSE: K9T) ("Grit" or the "Company") announces further to its news release of November 25, 2025, the Company has received TSX Venture Exchange approval and has settled outstanding indebtedness totaling
About Grit Metals Corp.
Grit Metals Corp. is a junior mining company currently focused on the Lithium-Cesium-Tantalum Finnish Pegmatite Project in central Finland. Governing bodies in Europe and Finland are legislating environmentally friendly and energy independent laws and policies. One of the key components is access to REE and, specifically, lithium. The company's exploration licenses are located within 1 kms of the Keliber mine and production complex, currently under construction and expected to begin production in H2 2025.
An estimated €600 million investment by Keliber's parent company Sibanye-Stillwater Limited in partnership with the Finnish Minerals Group (www.mineralsgroup.fi) is underway in the Kautinen Region and will see the development of open-pit and underground mining from several deposits, construction of a central spodumene concentrator plant and a lithium hydroxide chemical plant at tidewater in Kokkola. When completed, this complex will comprise a complete hard-rock spodumene pegmatite lithium supply chain (source: www.sibanyestillwater.com).
Grit Metals Corp. is a junior exploration company focused on lithium-cesium-tantalum pegmatites in central Finland. The Company's exploration licences are located within 1 km of Keliber's mine and production complex, a €600 million investment by Sibanye-Stillwater Limited in partnership with Finnish Minerals Group (www.mineralsgroup.fi). The Keliber complex, which is currently in commissioning, will comprise open-pit and underground mining, a central spodumene concentrator and a lithium hydroxide plant at tidewater in Kokkola, creating a complete hard-rock lithium supply chain in the region (source: www.sibanyestillwater.com).
On behalf of the board of directors of the Company:
Jeremy Poirier
Chief Executive Officer
Telephone: 604-722-9842
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information
This new release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the presence of lithium mineralization at, and the exploration and development potential of, the Finland Pegmatite Project. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct.
All such forward-looking information is based on certain assumptions and analyses made by the Company in light of their experience and factors management believes are appropriate in the circumstances. This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include the costs of any anticipated work programs and the ability to fund such costs, required approvals in connection with any work programs and the ability to obtain such approvals, risks inherent in exploration as well as those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A.
The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277608
FAQ
What did Grit Metals announce on December 10, 2025 regarding debt settlement for EUEMF?
How many shares did Grit Metals issue to settle debt and at what price?
When do resale restrictions on the shares issued by Grit Metals expire?
Does the Grit Metals debt settlement have TSXV approval?
What is the immediate shareholder impact of Grit Metals issuing 625,000 shares?
