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or Name

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Grid Metals Corp
Symbol GRDM
Shares Issued 168,272,856
Close 2023-10-02 C$ 0.12
Market Cap C$ 20,192,743
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ORIGINAL: Grid Metals Corp - Announcement of Voting Results of Annual Meeting

2023-10-02 18:01 ET - News Release

TORONTO, ON / ACCESSWIRE / October 2, 2023 / Grid Metals Corp. (the "Company" or "Grid") (TSXV:GRDM)(OTCQB:MSMGF) today announced the results of the voting at the Annual and Special Meeting of the Company held on September 29, 2023 (the "Meeting"). The Company is pleased to note that all the matters and resolutions proposed in the meeting circular were passed by shareholders.

Election of Directors
The following directors were elected at the Meeting - Robin E Dunbar , Thomas W Meredith, Edward J Munden, Patrick Murphy and Grant McAdam.

Special Resolutions
At the Meeting the following special resolutions were also approved by the shareholders:

1) approval of the Equity Incentive Plan which was approved by a majority of disinterested shareholders;

2) approval of the Amendments to Articles of Incorporation of the Corporation in order to qualify for potential listing on the Australian Securities Exchange

3) approval of the share Issuance to a Li Equities Investments LP ( "Li Equities" ) for cancellation of an option to purchase an additional interest in the Donner Lake and Campus Creek Joint Ventures (the "Joint Ventures") which was approved by a majority of disinterested shareholders. The option granted Li Equities the right to purchase 20% of the wholly owned subsidiary of the Company which holds its 75% joint venture interests. The Company issued a total of 7,142,858 shares to Li Equities in order to terminate the option. Disinterested shareholders approval of the share issuance was required as Li Equities is a related party of the Company by virtue of it being controlled by Waratah Capital Advisors which held 14.2% of the outstanding common shares of the Company as of the record date. The Board of Directors of Grid determined that it was in the best interests of the Company to control as much of the Joint Ventures as it could and eliminate any uncertainty regarding its ongoing interest in the Joint Ventures. Details of the transaction were fully described in the Company's press release dated July 5, 2023 and in the Management Information Circular for the Meeting.

About Grid Metals Corp.

Grid Metals is focused on both lithium and Ni-Cu-PGM in the Bird River area approximately 150 km north east of Winnipeg Manitoba. The Donner Lake Lithium Property in Manitoba is a 75% owned property subject to a joint venture agreement. In addition to activity at Donner Lake the Company has the Falcon West Lithium Property located southeast of Winnipeg and a PEA stage Ni-Cu-PGM-Co project (Makwa-Mayville) undergoing exploration and development activity.

On Behalf of the Board of Grid Metals Corp.

For more information about the Company please see the Company website at www.gridmetalscorp.com or contact:

Robin Dunbar - President, CEO & Director Telephone: 416-955-4773 Email: rd@gridmetalscorp.com
David Black - Investor Relations Email: info@gridmetalscorp.com

We seek safe harbour. This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements include the Company's closing of the proposed financial transactions, sale of royalty and property interests. the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, metallurgical risk, currency fluctuations, fluctuations in the price of nickel, cobalt, copper and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

SOURCE: Grid Metals Corp.

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