NIKLF - Grid Battery Amends Consulting Services Agreement with Triomphe Holdings Ltd. (DBA Capital Analytica)
(TheNewswire)
Coquitlam, BC - TheNewswire - October 12, 2023 - Grid Battery Metals Inc. (the “ Company ” or “ Grid Battery ”) (TSXV:CELL ) ( OTC:EVKRF ) ( FRA:NMK2) announces that further to the Company’s news release datedJune 30, 2023 announcing the engagement of Triomphe Holdings Ltd. (dbaCapital Analytica) (the “Consultant”) to provide a multi-facetedPromotional Enhancement Service, the parties have agreed to amendcertain terms of the Consulting Services Agreement (the“Agreement”), which Agreement was approved by the TSX VentureExchange (“Exchange”) on July 14, 2023.
The amended terms are that the Company will pay anadditional fee of $60,000 to the Consultant and the Agreement will beextended for an additional three month term from October 11,2023.
Pursuant to the terms of the Amending Agreement, theCompany has also granted incentive stock options to the Consultant topurchase 400,000 common shares at an exercise price of $0.09 per sharefor a period of five years from the date of grant. The stock optionsgranted will vest in 25% increments every three months over a 12 monthperiod. The stock options granted are also subject to a 4 month anda day hold period in accordance with applicable Canadian SecuritiesLaws. The stock options are subject to the terms and conditions ofthe Company’s stock option plan and the policies of theExchange.
The Consultant and Grid are not related parties andoperate at arm’s length. Aside from the stock options granted,neither the Consultant nor its principals haveany additional interest in the Company’s securities, directly orindirectly, or any right or intent to acquire such an interest.
Grid Battery Metals Inc. is a Canadian basedexploration company whose primary listing is on the TSX VentureExchange. The Company’s maintains a focus on exploration for highvalue battery metals required for the electric vehicle (EV) market. www.gridbatterymetals.com .
About Texas Springs Property
The Company owns a 100% interest in the Texas SpringProperty which consists of mineral lode claims located in Elko County,Nevada. The Property is in the Granite Range southeast of Jackpot,Nevada, about 73 km north-northeast of Wells, Nevada. The target is alithium clay deposit in volcanic tuff and tuffaceous sediments of theHumbolt Formation.
The Texas Spring property adjoins the southern borderof the Nevada North Lithium Project - owned by Surge Battery MetalsInc. (“Surge”) ( TSXV:NILI, OTC: NILIF ) and comprised of 303 mineralclaims. Surge's first round of drilling identified stronglymineralized lithium bearing clays. The average lithium content withinall near surface clay zones intersected in the 2022 drilling program,applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29,2023 ). More recent results haveshown higher grade lithium up to 8070 ppm on this property afterinitial drilling (Press release September 12,2023 ).
About Clayton Valley LithiumProject
The Company owns a 100% interest in 113 lithium lodeand placer claims covering over 640 hectares in Clayton Valley.Clayton Valley is a down-dropped closed basin formed by the Mioceneage Great Basin extension and is still active due to movement alongthe Walker Lane structural zone. As a result, the basin haspreserved multiple layers of lithium bearing volcanic ash, resultingfrom multiple eruptive events over the past 6 million years includingeruptions from the 700,000-year-old Long Valley Caldera system andrelated events. These ash layers are thought to contribute to thelithium brines extracted by Albemarle and are also likely involved inthe formation of the exposed lithium rich clay deposits on the eastside of Clayton Valley.
Volt Canyon Lithium Property
The Company owns a 100% interest in 80 placer claimscovering approximately 635 hectares of alluvial sediments and clayslocated 122 km northeast of Tonopah, Nevada.
About the British Columbia, NickelProjects
The Mount Sidney Williams Group consists of three claimblocks with a total area of 10,569 hectares in the area surroundingMount Sidney Williams, both adjoining and near the Decar project ofFPX Nickel Corp., located 100 kilometres northwest of Fort St. James,B.C., in the Omineca mining division. Metallic mineralization includesnickel, cobalt, and chromium. At least some of the nickelmineralization occurs as awaruite. The Mitchell Range Group areaclaim consists of one claim block covering 8,659 hectares withdemonstrated metallic mineralization including nickel, cobalt, andchromium. Nickel cobalt mineralization has not been well explored, butthe presence of awaruite has been documented.
On Behalf of the Board of Directors
“Tim Fernback”
Tim Fernback, President & CEO
Contact Information:
Email: info@gridbatterymetals.com
Phone: 604- 4 28-5690
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. This news release may containforward-looking statements which include, but are not limited to,comments that involve future events and conditions, which are subjectto various risks and uncertainties. Except for statements ofhistorical facts, comments that address resource potential, upcomingwork programs, geological interpretations, receipt and security ofmineral property titles, availability of funds, and others areforward-looking. Forward-looking statements are not guarantees offuture performance and actual results may vary materially from thosestatements. General business conditions are factors that could causeactual results to vary materially from forward-lookingstatements.
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