Grid Battery-Engages i2i Marketing Group, LLC for Marketing Program

Rhea-AI Summary

Grid Battery Metals Inc. (TSXV:CELL, OTCQB:EVKRF, FRA:NMK2) has engaged i2i Marketing Group, for a four-month marketing program, pending TSX Venture Exchange approval. The agreement, dated August 15, 2024, involves a US$600,000 fee for marketing and media distribution services. Grid will pay an initial US$150,000 deposit for campaign creation, offsetting the initial media distribution budget.

The program aims to increase investor awareness through online platforms and direct mailing. Grid has the option to extend the agreement for an additional six months at US$600,000, with potential month-to-month continuation thereafter. No securities will be issued as compensation, and i2i currently owns no Grid securities.

Positive

• Engagement of professional marketing firm to increase investor awareness
• Option to extend marketing program for additional six months
• No securities issued as compensation, avoiding potential dilution

Negative

• Significant marketing expense of US$600,000 for initial four-month period
• Additional US$600,000 cost for six-month extension if exercised

News Market Reaction – EVKRF

%

1 alert

% News Effect

On the day this news was published, EVKRF declined NaN%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

COQUITLAM, BC / ACCESSWIRE / August 16, 2024 / Grid Battery Metals Inc. (the "Company" or "Grid") (TSXV:CELL)(OTCQB:EVKRF)(FRA:NMK2) is pleased to announce that it has engaged i2i Marketing Group, LLC ("i2i") of Key West Florida, and has entered into a Marketing Agreement dated August 15, 2024, whereby i2i will provide a marketing and media distribution for an initial term of four months commencing upon TSX Venture Exchange ("Exchange") approval for a fee of US$600,000.

Upon Exchange approval, the Company will pay i2i an initial deposit of US$150,000 to write and design the creative for an advertising campaign. The US$150,000 will offset the payments required for the initial medial distribution budget.

i2i will create an advertising campaign and utilize their physical marketing program strategy with the aim of increasing investor awareness through various online platforms and methods of engagement, including the direct mailing of advertising materials to potentially interested parties. Following the end of the initial term, the Company has the sole option to extend the media distribution budget for an additional period of six months for an additional US$600,000. After the secondary term this agreement may continue on a month-to-month basis as mutually agreed upon by i2i and the Company.

The Company will not issue any securities to i2i as compensation for its marketing services. As of the date hereof, to the Company's knowledge, i2i (including its directors and officers) does not own any securities of the Company and is arm's length to the Company.

About Grid Battery Metals Inc. www.gridbatterymetals.com.

Grid Battery Metals Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

About Texas Springs Property

The Company owns a 100% interest in the Texas Spring Property which consists of mineral lode claims located in Elko County, Nevada. The Property is in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in volcanic tuff and tuffaceous sediments of the Humbolt Formation. A Phase 1 exploration program at the Texas Springs Property (Fall 2023) yielded average lithium grades of 2010 ppm, applying a 1,000 ppm cut-off, and up to 5,610 ppm Lithium.

The Texas Spring property adjoins the southern border of the Nevada North Lithium Project - owned by Surge Battery Metals Inc. ("Surge") (TSXV: NILI, OTC: NILIF) and comprised of 725 mineral claims. Surge's first round of drilling identified strongly mineralized lithium bearing clays. The average lithium content within all near surface clay zones intersected in the 2022 drilling program, applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29, 2023). More recent results have shown higher grade lithium up to 8070 ppm on this property after initial drilling (Press release September 12, 2023). Our exploration results are on-trend with these results.

About Clayton Valley Lithium Project

The Company owns a 100% interest in 113 lithium lode and placer claims covering over 640 hectares in Clayton Valley. Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone. As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-old Long Valley Caldera system and related events. These ash layers are thought to contribute to the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley.

Volt Canyon Lithium Property

The Company owns a 100% interest in 80 placer claims covering approximately 635 hectares of alluvial sediments and clays located 122 km northeast of Tonopah, Nevada.

On Behalf of the Board of Directors

"Tim Fernback"

Tim Fernback, President & CEO

Contact Information:
Email: info@gridbatterymetals.com
Phone: 604- 428-5690

Neither the 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. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. It should be noted that results from any adjacent property(s) are not an indication of what may be found on the Company's property(s).

SOURCE: Grid Battery Metals Inc.

View the original press release on accesswire.com

FAQ

What marketing firm has Grid Battery Metals (EVKRF) engaged for its marketing program?

Grid Battery Metals (EVKRF) has engaged i2i Marketing Group, of Key West, Florida for its marketing program.

How much is Grid Battery Metals (EVKRF) paying for the initial marketing program?

Grid Battery Metals (EVKRF) is paying US$600,000 for the initial four-month marketing program.

When does the marketing agreement between Grid Battery Metals (EVKRF) and i2i Marketing Group begin?

The marketing agreement begins upon TSX Venture Exchange approval, with the agreement dated August 15, 2024.

Can Grid Battery Metals (EVKRF) extend the marketing program with i2i Marketing Group?

Yes, Grid Battery Metals (EVKRF) has the option to extend the program for an additional six months at a cost of US$600,000.