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AC/DC Battery Metals Secures $2M Financing and Begins Trading on TSX Venture Exchange

Grid Battery Metals Inc. (TSXV: CELL) (OTCQB: EVKRF) (FRA: NMK2) has announced that its former subsidiary, AC/DC Battery Metals Inc. (TSXV: ACDC), has completed a $2,000,000 private placement. This financing was achieved through the sale of 40,000,000 units at CAD$0.05 per unit. Each unit consists of one common share and one share purchase warrant. Holders of these warrants can purchase an additional common share at CAD$0.05 per share for five years, pending TSX Venture Exchange approval.

AC/DC Battery Metals Starts Trading on TSX Venture Exchange

AC/DC Battery Metals shares began trading on the TSX Venture Exchange under the symbol “TSXV: ACDC” on July 8, 2024. The company also launched its social media accounts on Facebook, LinkedIn, and Twitter.

Significant Achievements for Grid and AC/DC Shareholders

Mr. Tim Fernback, President & CEO of Grid Battery Metals Inc., stated, “This is an exciting time for Grid and AC/DC shareholders. Completing significant financing in a challenging junior capital market and a new public listing of AC/DC shares. We set out on this journey many months ago and fulfilled a commitment to our Grid Battery Metals shareholders by offering a valuable AC/DC share dividend as we spun out the subsidiary. We look forward to creating more shareholder value and future success of AC/DC on the TSXV.”

Use of Proceeds

The proceeds from the private placement will be used for exploration, development, and general working capital purposes. All securities issued are subject to a hold period expiring on November 4, 2024, as per Canadian Securities Laws.

About Grid Battery Metals Inc.

Grid Battery Metals Inc. is a Canadian-based exploration company focused on high-value battery metals for the electric vehicle market.

About Texas Springs Property

The company owns a 100% interest in the Texas Spring Property, consisting of mineral lode claims in Elko County, Nevada. The target is a lithium clay deposit.

About Clayton Valley Lithium Project

The company owns a 100% interest in 113 lithium lode and placer claims in Clayton Valley, known for its preserved layers of lithium-bearing volcanic ash.

Volt Canyon Lithium Property

The company also holds a 100% interest in 80 placer claims in northeast Nevada.

Contact Information:

Tim Fernback, President & CEO
Phone: 604-428-5690

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