Grid Metals Corp Stock Price, News & Analysis

Grid Metals Corp. (OTCQB:MSMGF) announced a shareholder update regarding its nickel-copper-cobalt-PGM and lithium projects in Canada. The company began drilling at the Makwa Nickel property in Manitoba, aiming for a total of ~3,000 metres to expand existing nickel resources. Following this, an 8,000 to 10,000 metre drilling program targeting lithium-rich pegmatites at the Mayville property is set to commence. Grid's lithium assets are positioned for potential monetization amidst a strong market. Future updates about these drilling programs will be provided.

Grid Metals Corp. (OTCQB: MSMGF) announced promising results from its 2021 drilling program at the Bannockburn Nickel Sulfide Property in Ontario. The drilling campaign demonstrated significant nickel enrichment across all five reported holes, with 193.5 metres of 0.31% Ni intercepted in hole GBN21-04. The B Zone, which is >2 km long, remains open for further exploration. Additional assays are pending, and plans include quantitative mineralogical analyses and further drilling to determine the extent of the resource.

Grid Metals Corp. announced the closing of its financing transaction with Lithium Royalty Corp., totaling approximately CAD$6.3 million. The deal includes a private placement of 13,962,404 shares at $0.1182 each, raising $1.65 million, along with proceeds from asset sales and royalties. The funds will be used for lithium exploration, with plans to create a lithium subsidiary later in 2022. Grid's working capital now stands at about $8.8 million, supported by its strategic positioning in the lithium market.

Grid Metals Corp. (OTCQB: MSMGF) has received conditional approval from the TSX Venture Exchange for a CAD$6.3 million financing transaction with Lithium Royalty Corp. This includes a private placement of 13,962,404 shares at $0.1182 per share, expected to close on January 12, 2022. Additionally, Grid will sell a 25% interest in two lithium projects for US$1.5 million and receive US$2.25 million from the sale of a 2% gross overriding royalty. This transaction supports Grid’s strategic focus on battery metals.

Grid Metals Corp. has announced a strategic financing agreement with Lithium Royalty Corp. to fund its lithium projects in Manitoba and Ontario, totaling approximately CAD $6.3 million. The deal includes a 25% interest sale in its lithium assets, project royalties, and a private placement. A new lithium-focused subsidiary will be formed, enhancing liquidity and streamlining operations. The transaction is pending due diligence and regulatory approval, with a targeted closing date around January 12, 2021.

Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) has appointed Douglas Harris as the new Chief Financial Officer, succeeding Rodger Roden, who stepped down after over a decade. Harris, a Chartered Accountant with 20 years of experience, has been involved in over $2 billion in transactions. The issuance of 250,000 incentive options at $0.12 has been approved for Harris, alongside 50,000 DSUs for independent directors. The company focuses on exploration and development of nickel, copper, PGM, and lithium projects in Manitoba and Ontario.

Grid Metals Corp. has signed an option agreement to acquire a 100% interest in the Campus Creek lithium property, located 250 km northwest of Thunder Bay. The property hosts spodumene and lepidolite-bearing pegmatite with significant lithium values. Initial grab samples show up to 4.35% Li2O, along with anomalous cesium, rubidium, and tantalum. The area is well-positioned for exploration, with ongoing sampling and geological mapping underway, estimated to cost $50,000. The company aims to leverage strong lithium market fundamentals to develop this promising site.

Grid Metals Corp. (OTCQB:MSMGF) is positioned to capitalize on the booming Electric Vehicle (EV) market by focusing on essential battery metals. With a NI 43-101 compliant resource of nickel, copper, cobalt, and platinum group metals at its Makwa Mayville project, the company is strategically targeting the critical components used in EV batteries. Additionally, ongoing drilling at the Bannockburn Nickel Project aims to discover bulk tonnage nickel mineralization, bolstering Grid Metals' potential as the demand for EVs continues to surge, driven by climate initiatives.

Grid Metals Corp. announces promising drilling results from its Main Dyke lithium pegmatite target in southeastern Manitoba. Newly reported results include high-grade lithium values, specifically 1.8% Li2O over 3.38 meters in a continuous spodumene-bearing pegmatite dyke with a minimum strike length of 775 meters. The findings confirm historical estimates of 3.8 million tons at 1.28% Li2O. The Mayville Lithium Property, which supports potential lithium production of 150-250,000 tons per annum, is well-positioned for infrastructure sharing and low carbon footprint development.