Business
Grid Battery Metals Provides Shareholders with an Update
(TheNewswire) Coquitlam, BC – TheNewswire - July 14, 2023- Grid Battery Meta...
About this update from Grid Battery Metals Inc
[{"type":"text","content":"Grid Battery Metals Provides Shareholders with an Update\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Coquitlam, BC –\n \n \n TheNewswire -\n \n \n July 14, 2023- Grid Battery Metals Inc.\n(“formerly\n \n \n Nickel Rock\nResources Inc.”) (the “Company” or “Grid\nBattery”) (TSXV:CELL\n \n \n )\n \n \n (\n \n \n OTC:EVKRF\n \n \n )\n \n \n (\n \n \n FRA:NMK2)\n \n \n \n \n \n \n To our\nShareholders\n \n \n \n \n \n \n As you are very much\naware, the electric vehicle (EV) industry is experiencing massive\ndemand from consumers.  A consumer shift, from combustion engine cars\nto those with electric motors, has provoked unparalleled activity in\nthe EV battery manufacturing market with the follow-on impacts on the\nEV metals exploration market.  This undeniable trend has caused the\nglobal auto industry to react swiftly with equally massive investments\nin new EV production facilities to meet this demand.\n \n \n \n \n \n \n What is new is that these same auto manufacturing\ncompanies have demonstrated a high interest in searching for\ndownstream mineral supplies of important EV metals such as lithium,\nnickel and cobalt etc. and are approaching companies like Grid who are\nactively searching for these metals.\n \n \n \n \n \n \n Furthermore, EV friendly\nlegislation like the recently enacted US Inflation Reduction Act of\n2022 encourages investment in North American EV manufacturing by\nproviding financial incentives for the purchase of EVs made in North\nAmerica by US citizens. To qualify for the incentive, EV battery\nmetals must be extracted or processed in the United States or in a\ncountry that has a free trade agreement with the United States, and\nthis includes Canada.\n \n \n \n \n \n \n The combination of all\nthese market forces and legislation provides a unique opportunity for\nGrid to be a preferred and sought out supplier to the EV battery\nindustry with our unique North American mineral assets.  As a\nshareholder it is important to know we are currently focussed on the\nsearch for all EV battery metals with a focus on projects located\nwithin the USA and Canada.\n \n \n \n \n \n \n At the time of this letter, it should be noted\nthat Grid is currently well financed and has capit...