Business
Grid Adds to Technical Team and Makes Grants Under New Equity Incentive Plan
TORONTO ON / ACCESSWIRE / February 27, 2020 / The Board of Directors of Grid Metals Corp. (T...
About this update from Grid Metals Corp.
[{"type":"text","content":"Grid Adds to Technical Team and Makes Grants Under New Equity Incentive PlanTORONTO ON / ACCESSWIRE / February 27, 2020 / The Board of Directors of Grid Metals Corp. (TSXV:GRDM) (\"Grid \" or the \"Company\") is pleased to announce that the Company has entered into a geophysical contract with Quantec Geoscience Limited to complete a Spartan magnetotelluric survey at its East Bull Lake palladium property located 80 km west of Sudbury, Ontario. The survey is being designed to delineate drill targets associated with favourable rock types and potential feeder structures. The survey is currently planned to commence in mid March and will take approximately 4-6 weeks. The Company will announce a timetable for drilling to follow.The Company is also pleased to announce it has signed a consulting contract with Stevens Geoscience Inc. to oversee the design and interpretation of the Spartan MT survey and provide ongoing technical support on future programs. The principal, Kevin Stevens, is a highly respected geophysicist who has worked closely in the past with Dr. Dave Peck, Grid's VP of Exploration and Business Development, on palladium exploration programs at the Lac des Isle Mine and elsewhere. Kevin brings a tremendous amount of technical expertise to Grid and played a key role in several major magmatic ore deposit discoveries in the Sudbury and Thunder Bay Mining Districts.The Company has granted a total of 2,620,000 incentive stock options and restricted share units to consultants, Officers and Directors of the corporation, exercisable to purchase up to 2,620,000 common shares in the capital of the Company until February 2025 at an exercise price of $0.25 per share. Certain of the options and restricted share units are subject to vesting periods. The incentive stock options were granted in accordance with the Company's Stock Option Plan and are subject to regulatory approval.Grid Metals to Present at PDAC.The Company will be exhibiting and presenting at the 2020 PDAC convention at the Metro Toronto Convention Centre. Dr. Dave Peck, who recently joined the Company as Vice President Exploration and Business Development, will be presenting at the PGM and Nickel Session on the Company's plans for exploration at the East Bull Lake property. The presentation will be at Room 801B South Building at 10:45 am on Tuesday March 3, 2020. Grid will...