Grid Metals closes C$1.68 million first tranche of private placement

Grid Metals Corp. (TSXV: GRDM) (OTCQB: MSMGF) completed the first tranche of a non-brokered private placement, raising C$1,680,000 in gross proceeds, the company announced.

The first tranche involved issuing 14,000,000 common shares to a strategic investor at C$0.12 per share. A second tranche is expected to close around October 30, 2025, potentially raising up to C$2,347,158 through additional common shares and charity flow-through shares priced at C$0.198 each.

The company plans to use proceeds from the offering to finance exploration activities, primarily at its Falcon West cesium project and within the Bird River Belt in southeastern Manitoba, targeting nickel, copper and platinum group metals. Additional funds will support general corporate purposes.

The charity flow-through shares will fund Canadian exploration expenses that qualify as flow-through mining expenditures under Canada's Income Tax Act. Manitoba purchasers will be eligible for a 30% mineral exploration tax credit. Grid Metals will renounce qualifying expenditures to flow-through share subscribers effective December 31, 2025.

In connection with the first tranche closing, Grid Metals entered into an investor rights agreement granting the strategic investor information rights, participation rights in future equity issuances, and the right to nominate a board member, provided the investor maintains specified ownership thresholds.

The second tranche closing remains subject to customary conditions including completion of definitive documentation and final approval from the TSX Venture Exchange. All shares will be subject to a four-month-plus-one-day hold period under applicable securities laws.

Grid Metals focuses on exploration and development in southeastern Manitoba with four key projects in the Bird River area, including properties targeting cesium, lithium, nickel, copper and platinum group metals.

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