Grid Metals Corp. announced a non-brokered private placement of up to 30,000,000 charitable flow-through common shares at a price of CAD 0.18 per charitable flow-through common share for gross proceeds of up to CAD 5,400,000 on November 29, 2023. The transaction will include participation from returning investors American Metals & Coal International, Inc. and Waratah Capital Advisors Ltd. The closing of the offering is expected to occur on or about December 21, 2023, and is subject to customary closing conditions including, but not limited to the negotiation and execution of subscription agreements and receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.

The shares will be subject to a hold period of four months and one day in accordance with applicable securities laws and will not be offered or registered in the United States. The company may pay finder's fee on a portion of the proceeds from the offering.