Grid Battery Metals Inc. announced a non-brokered private placement financing to issue 4,000,000 units at a price of CAD 0.12 per unit for gross proceeds of CAD 480,000 on September 21, 2023. Each unit comprises one common share and one share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the company at an exercise price of CAD 0.155 cents per share for a period of five years from closing, subject to TSX Venture Exchange approval. The company also paid finder fees in the amount of 400,000 shares in connection with the private placement. The finder fees are subject to exchange approval. All securities issued in connection with the private placement are subject to a four-month-and-a-day hold period expiring on January 22, 2024, in accordance with applicable Canadian securities laws.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 10 placees and 1 pro group for 100,000 units.