$EVKRF $CELL.V Grid Battery Metals Provides a Year End Update
https://www.accesswire.com/818703/grid-batter...end-update
COQUITLAM, BC / ACCESSWIRE / December 20, 2023 / Grid Battery Metals Inc. (the "Company" or "Grid Battery"
(TSXV:CELL)(OTCQB:EVKRF)(FRA:W47) provides the following update to its Shareholders.
TO OUR SHAREHOLDERS
As the year draws to a close, I would like to take this time to thank you for your continued support of the Company, our team and the development of our world class North American lithium and nickel properties.
2023 has been a banner year for the Company adding key Nevada lithium assets to our property portfolio, completing three separate equity financings to bolster our balance sheet, completing material exploration activities in both Nevada and British Columbia, and starting the process to spin out our Canadian Nickel assets into a separate public company to be listed and financed on the TSX Venture Exchange. All big benefits to the Grid shareholders, including a planned common share dividend in 2024 associated with the newly created spin out public company.
We currently have a cash balance of approximately CAD$5 million in our treasury and, in addition to this, over CAD$1.5 million in marketable securities on our balance sheet. If all our outstanding warrants and options are converted (they are all in the money) that would add another ~ CAD$3 million to our treasury. I am proud to say that we are fully funded for the 2024 mineral exploration season.
As you are all aware, a key component in the production of EVs is the exploration, mining and refining of key battery metals like Lithium and Nickel. Both Canada and the US have committed to supporting the mining industry for these key battery metals and recent legislation like the US Inflation Reduction Act confirms both financial and functional support to the mining industry as part of an overall long term strategy for clean technology and progressive solutions to climate change.
We have reached a global milestone in EV car production. There are now over 41 million electric vehicles on the road globally, thanks in part to incentives found in the Inflation Reduction Act.
https://www.accesswire.com/818703/grid-batter...end-update
COQUITLAM, BC / ACCESSWIRE / December 20, 2023 / Grid Battery Metals Inc. (the "Company" or "Grid Battery"
(TSXV:CELL)(OTCQB:EVKRF)(FRA:W47) provides the following update to its Shareholders. TO OUR SHAREHOLDERS
As the year draws to a close, I would like to take this time to thank you for your continued support of the Company, our team and the development of our world class North American lithium and nickel properties.
2023 has been a banner year for the Company adding key Nevada lithium assets to our property portfolio, completing three separate equity financings to bolster our balance sheet, completing material exploration activities in both Nevada and British Columbia, and starting the process to spin out our Canadian Nickel assets into a separate public company to be listed and financed on the TSX Venture Exchange. All big benefits to the Grid shareholders, including a planned common share dividend in 2024 associated with the newly created spin out public company.
We currently have a cash balance of approximately CAD$5 million in our treasury and, in addition to this, over CAD$1.5 million in marketable securities on our balance sheet. If all our outstanding warrants and options are converted (they are all in the money) that would add another ~ CAD$3 million to our treasury. I am proud to say that we are fully funded for the 2024 mineral exploration season.
As you are all aware, a key component in the production of EVs is the exploration, mining and refining of key battery metals like Lithium and Nickel. Both Canada and the US have committed to supporting the mining industry for these key battery metals and recent legislation like the US Inflation Reduction Act confirms both financial and functional support to the mining industry as part of an overall long term strategy for clean technology and progressive solutions to climate change.
We have reached a global milestone in EV car production. There are now over 41 million electric vehicles on the road globally, thanks in part to incentives found in the Inflation Reduction Act.
