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Grid Battery Metals Provides CEO Update
COQUITLAM, BC / ACCESSWIRE / September 13, 2023 / Grid Battery Metals Inc. (the "Company" or "Grid Battery") (TSXV:CELL) (OTCQB:EVKRF) (FRA:NMK2) provides the f
About this update from Grid Battery Metals Inc
[{"type":"text","content":" COQUITLAM, BC / ACCESSWIRE / September 13, 2023 / Grid Battery Metals Inc. (the \"Company\" or \"Grid Battery\") (TSXV:CELL) (OTCQB:EVKRF) (FRA:NMK2) provides the following update to its Shareholders. TO OUR SHAREHOLDERS First off, I would like to thank you for your support of our Company. Your continued support of our team and the development of our world class North American lithium and nickel properties is impressive. We have spoken many times in the past about the shift to Electric Vehicles (EV) in North America and throughout the globe. This is an undeniable consumer trend that we are experiencing. Auto manufacturers worldwide are producing more EVs for sale each year, both in terms of the number of car and truck model options available for consumers but also in terms of the numbers of cars produced. Governments are stepping up with EV subsidies for both consumers and manufacturers, and auto manufacturers are increasing their manufacturing capacity. One example can been seen by the recent announcement by Tesla Inc. (NASDAQ: TSLA) to increase the capacity of a newly proposed Mexican manufacturing facility to produce over 2 million vehicles / year and committing to an investment of US$10 Billion in 2025. A key component in the production of EVs is the exploration, mining and refining of key battery metals like Lithium and Nickel. Both Canada and the US have committed to supporting the mining industry for these key battery metals and recent legislation like the US Inflation Reduction Act confirms both financial and functional support to the mining industry as part of an overall long term strategy for clean technology and progressive solutions to climate change. As you are aware, Grid Battery Metals has completed two financings in 2023 and we currently have a cash balance of approximately CAD$5 million in our treasury and, in addition to this, over CAD$4.8 million in marketable securities on our balance sheet. The Company was fortunate to have disposed some of our non-core nickel assets earlier in the year to yield this very positive situation for our Company and shareholders. I am proud to say that we are fully funded for the 2023 and 2024 mineral exploration seasons. Nevada Lithium Exploration Plan Recently we have added two new and highly prospective lithium properties to our asset portfolio in Nevada. The Texas Springs Pro...