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Grounded Lithium Corp. closes reverse takeover with VAR Resources Corp. and commences trading on the TSX Venture Exchange

Date Closed

August 22, 2022

Lead Office


On August 22, 2022, Grounded Lithium Corp. ("GLC") closed its previously announced reverse takeover of VAR Resources Corp. ('VAR") pursuant to the amalgamation agreement dated February 10, 2022 among VAR, VAR Resources (Newco) Corp. and the GLC. The resulting issuer shares commenced trading on the TSX Venture Exchange under the trading symbol ‘GRD’ on August 25, 2022.

GLC is a lithium brine exploration and development company that controls 2.9 million tonnes of lithium carbonate equivalent over its focused land holdings in Southwest Saskatchewan.

McCarthy Tétrault advised GLC with a team led by Brian Bidyk that included Farhiyah Shariff, Matthew Hooker and Karsten Carriere (Business).