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Grounded Lithium Corp. closes a non-brokered financing of 12,000,000 special warrants for C$3M

Date Closed

January 6, 2023

Lead Office



3.00 Million CAD

On November 4, 2022, Grounded Lithium Corp. (“GLC”) closed a non-brokered financing of 12,000,000 special warrants (“Special Warrants”) for gross proceeds of C$3 million.

On January 4, 2023, GLC obtained a receipt for a final short form prospectus from the securities commissions in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec qualifying the units (“Units”) underlying the Special Warrants for distribution.

On January 6, 2023, the Special Warrants automatically exercised into 12,000,000 Units, each Unit comprised of one common share of GLC and one common share purchase warrants of GLC. The common shares are listed on the TSX Venture Exchange under the trading symbol “GRD”.

GLC is a publicly traded lithium brine exploration and development company that controls approximately 3.7 million tonnes of lithium carbonate equivalent of inferred resource over its focused land holdings in Southwest Saskatchewan. GLC's multi-faceted business model involves the consolidation, delineation, exploitation and ultimately development of its opportunity base to fulfill its vision to build a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition shift.

McCarthy Tétrault assisted GLC with a team led by  Brian Bidyk that included Farhiyah Shariff, Matthew Hooker, Karsten Carriere, Trena Gallant and Annie Poirer-Simard (Business).