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Grid Battery Metals Announces Shareholder Meeting Outcomes & Nickel Spin-Out

Grid Battery Metals Inc. (TSXV: CELL, OTCQB: EVKRF FRA: NMK2) has announced the results of its Annual General and Special Meeting of shareholders held on April 9, 2024.

Meeting Highlights

Shareholders voted 99% in favor of all resolutions, including a plan to spin-out 9,414,040 common shares of AC/DC Battery Metals Inc. to shareholders. The share dividend will involve transferring Nickel Properties in British Columbia to AC/DC.

Strategic Focus on Electric Vehicle Metals

CEO Tim Fernback highlighted the strategic shift towards concentrating on lithium projects in Nevada and handing over Canadian nickel properties to AC/DC. This move aims to leverage the growing demand for nickel in the electric vehicle market.

Management and Approvals

Tim Fernback, along with directors Robert Setter, Ali Alizadeh, and Jay Oness, was re-elected, ensuring continuity in the company’s strategic direction. The meeting also saw the conditional approval of the spin-out plan, with final steps expected to conclude in the coming weeks.

About Grid Battery Metals Inc.

Focusing on metals essential for the electric vehicle market, Grid owns interests in properties rich in lithium and nickel across Nevada and British Columbia.

Nickel and Lithium Projects Overview

Significant investments in exploring and developing the Texas Springs Property and Clayton Valley Lithium Project underline the company’s commitment to contributing to the EV industry’s growth.

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