Grounded Lithium Corp. reports developments tied to its lithium brine exploration and development business in Southwest Saskatchewan and its OTC-traded shares under GRDAF. Company updates commonly cover the Kindersley Lithium Project, technical work on the Duperow Formation, direct lithium extraction evaluation, pre-feasibility study work, and collaboration with Denison Mines Corp.
News also includes quarterly and year-end financial results, working-capital and capital-expenditure disclosures, shareholder meeting matters, stock option grants, and the company's resource diversification into Saskatchewan oil and gas operations. These releases connect project spending, brine-processing studies, and oil-and-gas cash-flow initiatives to Grounded Lithium's broader development plans.
Grounded Lithium Corp. (TSXV: GRD; OTCQB: GRDAF) has signed a Lithium Processing Test Work Program Agreement with Koch Technology Solutions (KTS) to utilize its Li-Pro™ technology for direct lithium extraction (DLE). This testing will take place at a KES facility in Pickering, Ontario, and aims to assess the efficacy of lithium extraction from GLC's brine. The results are anticipated within 6-8 weeks and will inform the selection of optimal extraction technology, which will contribute to a preliminary economic assessment expected by Q2 2023.
Grounded Lithium Corp. (GRDAF) announced a purchase and sale agreement to acquire 33 sections (8,498 hectares) of land from Hub City Lithium Corp., enhancing its landholdings in the Kindersley area to 333 sections (86,229 hectares). The total transaction value is $425,000, including $175,000 cash and $250,000 in shares. The purchase price of $50 per hectare is competitive compared to recent sales exceeding $100 per hectare. This acquisition adds 12% to the company's prospective land base and strategically positions GLC for future growth. The expected closing date is March 15, 2023.
Grounded Lithium Corp. (OTCQB: GRDAF) announced its field development plan for the Kindersley Lithium Project (KLP), targeting an initial production of 10,000 metric tons per year. The plan involves 24 producing wells and 5 disposal wells, supported by 70 kilometers of pipelines to minimize surface disturbance. This project is expected to significantly reduce operating costs as it's free of hydrocarbons and H2S, eliminating the need for pre-treatment. The preliminary economic assessment (PEA) is anticipated for Q2 2023, with production expected to commence by 2026. The company also granted stock options and RSUs to employees and insiders.
Grounded Lithium Corp. (GRDAF) announced successful results from drilling the 4-15 Well in Saskatchewan, highlighting critical deliverability for lithium extraction. The well was drilled economically within seven days, revealing 107 meters of net pay with favorable porosity. Production testing showed lithium concentrations between 74 and 81 mg/l, indicating a strong economic potential. Additionally, the company is updating its Technical Report and anticipates key data in a Preliminary Economic Assessment (PEA) expected by Q2 2023.
Guardforce AI Co., Ltd. has announced the pricing of its underwritten public offering of 3,614,458 units at $4.15 per unit, aiming for approximately $15 million in gross proceeds. Each unit comprises one ordinary share and one warrant, fully separable upon issuance. The offering is expected to close around October 1, 2021. Additionally, the company has secured approval to list its ordinary shares and warrants on Nasdaq under symbols 'GFAI' and 'GFAIW', respectively. The warrants will be exercisable at $5.1875, expiring five years post-issuance.
Guardforce AI Co., Limited (OTC Pink: GRDAF) has appointed Cynthia Chung Chi Ng as its new Chief Financial Officer effective May 17, 2021. Ms. Ng brings over 17 years of accounting and auditing experience, having previously served as CFO at Guardforce AI and as chairman of the audit committee of a U.S.-traded company. Terence Yap, Chairman, expressed confidence in her ability to enhance the company’s financial strategies as it continues to expand in the Asia Pacific region.
Guardforce AI Co. (OTC Pink: GRDAF) has acquired a majority stake in Handshake Networking Ltd., a Hong Kong-based information security consultancy, enhancing its cybersecurity offerings. Handshake specializes in services such as penetration testing, vulnerability assessments, and computer forensics. This acquisition builds on a prior partnership to launch GFAI RECON, targeting cybersecurity for SMEs and other clients. Chairman Terence Yap emphasized the significance of cybersecurity amid rising IoT usage and online transactions, positioning Guardforce AI to leverage Handshake’s expertise across the Asia-Pacific region.
Guardforce AI Co., Ltd (OTC Pink: GRDAF) has appointed John Fletcher and David Ian Viccars as independent board members, effective February 1, 2021. Fletcher, a finance expert with over 100 transactions, will chair the newly formed audit committee. Viccars brings 20 years of security industry experience in the APAC region. Chairman Terence Yap stated that their expertise will be crucial for the company's growth and innovative solutions. Guardforce AI provides integrated security solutions to protect high-value assets across various sectors.
Guardforce AI Co., Ltd. (OTC Pink: GRDAF) announced its eligibility for quotation on the OTC Pink marketplace in the U.S. The company, with over 38 years of experience in Thailand, specializes in integrated security solutions, focusing on protecting high-value assets for government and corporate clients. Guardforce AI aims to enhance its managed security services by deploying robots for thermal imaging and temperature measurements. This strategic move is expected to increase its market presence and facilitate access to international investors as they plan for an uplisting to higher OTC tiers.