Grounded Lithium Reports Second Quarter 2026 Financial and Operating Results

Rhea-AI Summary

Grounded Lithium (TSXV: GRD, OTC: GRDAF) reported Q2 2026 results for the period ended June 30, 2026. Net comprehensive loss was CAD 132,943 for the quarter and CAD 196,936 for the first half of 2026. Cash flow from operating activities was CAD 79,527 in Q2 2026 versus (CAD 45,658) in Q2 2025, while funds flow used in operations totaled CAD 82,807 for the quarter and CAD 108,808 year-to-date. Capital expenditures reached CAD 1,462 in Q2 and CAD 2,822 for the six months, and the Company reported a working capital deficit of CAD 114,043, compared with a surplus of CAD 94,710 a year earlier.

The Company announced the acquisition of certain oil and gas mineral rights in a Saskatchewan Crown land sale, adjacent to existing acreage, to enable future conventional oil drilling to support lithium initiatives near Kindersley. According to Grounded Lithium, it controls about 1.0 million tonnes of Measured & Indicated and 3.2 million tonnes of Inferred lithium carbonate equivalent resources, and its updated PEA for the Kindersley Lithium Project Phase 1 reports an after-tax NPV8 of US$1.0 billion and an after-tax IRR of 48.5%.

Positive

• Q2 2026 operating cash flow of CAD 79,527 vs (CAD 45,658) in Q2 2025
• Reported Q2 2026 net comprehensive loss of only CAD 132,943
• Strategic acquisition of nearby Saskatchewan oil and gas mineral rights with existing partners
• Controls about 1.0 million t Measured & Indicated and 3.2 million t Inferred LCE resources
• Updated PEA shows Phase 1 after-tax NPV8 US$1.0 billion and IRR 48.5%

Negative

• Six‑month 2026 net comprehensive loss of CAD 196,936
• Working capital swung to a CAD 114,043 deficit from a CAD 94,710 surplus
• Funds flow used in operations of CAD 82,807 in Q2 and CAD 108,808 year‑to‑date

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CALGARY, AB, Aug. 19, 2026 /PRNewswire/ -- (TSXV: GRD) (OTC: GRDAF) - Grounded Lithium Corp. ("GLC" or the "Company") announces our financial and operating results for the three and six month periods ended June 30, 2026.  Selected financial and operational information is set out below and should be read in conjunction with the Company's June 30, 2026 financial statements and the related management's discussion and analysis, which are available for review at www.sedarplus.ca or the Company's website at www.groundedlithium.com.

	(CAD$, except per share amounts and common shares outstanding)
			Three Months Ended June 30,			Six Months Ended June 30,
			2026	2025		2026	2025
	FINANCIAL RESULTS
	Net comprehensive loss		132,943	103,370		196,936	72,978
	Per share - basic and diluted			-			-
	Cash flow from (used in) operating activities		79,527	(45,658)		57,201	(2,595)
	Per share - basic and diluted		-	-		-	-
	Funds flow used in operations		82,807	71,330		108,808	11,144
	Per share - basic and diluted		-	-		-	-
	Capital expenditures
	Capital expenditures		1,462	-		2,822	-
	Liquidity
	Working capital surplus (deficit)		(114,043)	94,710		(114,043)	94,710
	Common shares outstanding
	Weighted average - basic and diluted		80,479,227	79,660,227		80,081,296	79,019,321
	Outstanding, end of period

Corporate Update

The Company also announces a successful acquisition of certain oil and gas mineral rights from a recent Saskatchewan Crown land sale.  The successful acquisition was made in conjunction with the Company's existing partners with the lands located nearby and adjacent to existing acreage.  With a larger core land position, we anticipate future drilling for conventional oil wells that support the Company's broader plan to diversify its asset base and provide corporate cash flow to support our lithium initiatives near Kindersley, Saskatchewan.

About Grounded Lithium Corp.

GLC is a publicly traded lithium brine exploration and development company that controls approximately 1.0 million metric tonnes of Measured & Indicated lithium carbonate equivalent mineral resource and approximately 3.2 million metric tonnes of Inferred lithium carbonate equivalent resource over our focused land holdings in Southwest Saskatchewan as per the Company's updated PEA.  The updated PEA, titled "NI 43-101 Technical Report: Preliminary Economic Assessment Kindersley Lithium Project – Phase 1 Update" dated November 7, 2023 and effective as of June 30, 2023, reports a Phase 1 NPV₈ after-tax of US$1.0 billion with an after-tax IRR of 48.5%.  GLC's multi-faceted business model involves the consolidation, delineation, exploitation and ultimately development of our opportunity base to fulfill our vision to build a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition shift.  U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on https://www.otcmarkets.com/. 

Qualified Person

Scientific and technical information contained in this press release has been prepared under the supervision of Doug Ashton, P.Eng., Alexey Romanov, P. Geo., Meghan Klein, P. Eng., Dean Quirk, P.Eng., Jeffrey Weiss, P.Eng., Chad Hitchings., P.L. Eng., and Michael Munteanu, P.Eng., each of whom is a qualified person within the meaning of NI 43-101.

Forward-Looking Statements

This press release may contain forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws. The opinions, forecasts, projections and statements about future events of results, are forward looking information, forward-looking statements or financial outlooks (collectively, "forward-looking statements") under the meaning of applicable Canadian securities laws. These statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by GLC that the Company believes these forward-looking statements continue to be true as of any subsequent date. Although GLC believes that the assumptions underlying, and expectations reflected in, these forward-looking statements are reasonable, it can give no assurance that these assumptions and expectations will prove to be correct. Such statements include, but are not limited to, statements regarding potential future oil drilling activity, generating corporate cash flow from the oil and gas operations to support lithium initiatives, the internal rates of return and net present values of the KLP, and GLC's vision of becoming a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition.

Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: GLC's expectation that our operations will be in Western Canada, unexpected problems can arise due to technical difficulties and operational difficulties which impact the production, transport or sale of our products; geographic and weather conditions can impact production; the risk that current global economic and credit conditions may impact commodity prices and consumption more than GLC currently predicts; the failure to obtain financing on reasonable terms; volatility in the trading price of the common shares of the Company; the risk that unexpected delays and difficulties in developing currently owned properties may occur; the failure of drilling to result in commercial projects; unexpected delays due to the limited availability of drilling equipment and personnel; and the other risk factors detailed from time to time in GLC's periodic reports. GLC's forward-looking statements are expressly qualified in their entirety by this cautionary statement.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

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 news release.

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SOURCE Grounded Lithium Corp.

FAQ

What were Grounded Lithium’s (OTC: GRDAF) key Q2 2026 financial results?

Grounded Lithium reported Q2 2026 net comprehensive loss of CAD 132,943 and six‑month loss of CAD 196,936. According to Grounded Lithium, operating cash flow was CAD 79,527, funds flow used in operations CAD 82,807, capital expenditures CAD 1,462, and working capital deficit CAD 114,043.

How did Grounded Lithium’s operating cash flow change in Q2 2026 versus Q2 2025?

Grounded Lithium generated operating cash flow of CAD 79,527 in Q2 2026 compared with (CAD 45,658) in Q2 2025. According to Grounded Lithium, this shift reflects improved cash generation from operations over the prior-year quarter, even though funds flow from operations remained negative.

What mineral rights did Grounded Lithium acquire in Saskatchewan in 2026?

Grounded Lithium acquired certain oil and gas mineral rights in a Saskatchewan Crown land sale in conjunction with existing partners. According to Grounded Lithium, these lands are near and adjacent to existing acreage and are intended to support future conventional oil drilling to help fund lithium initiatives near Kindersley.

What lithium resources does Grounded Lithium report for its Southwest Saskatchewan holdings?

Grounded Lithium reports about 1.0 million tonnes of Measured & Indicated and 3.2 million tonnes of Inferred lithium carbonate equivalent resources. According to Grounded Lithium, these resources are based on its focused land holdings in Southwest Saskatchewan as detailed in the updated preliminary economic assessment.

What does the updated PEA show for Grounded Lithium’s Kindersley Lithium Project Phase 1 economics?

The updated PEA for Kindersley Phase 1 reports an after-tax NPV8 of US$1.0 billion and after-tax IRR of 48.5%. According to Grounded Lithium, the NI 43‑101 technical report is dated November 7, 2023 and effective June 30, 2023, outlining projected project economics.

Where can investors access Grounded Lithium’s Q2 2026 financials and GRDAF stock information?

Investors can review Q2 2026 financial statements and MD&A on SEDAR+ and the company’s website. According to Grounded Lithium, U.S. investors can access current financial disclosure and real-time Level 2 quotes for GRDAF at OTCMarkets.com.