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Grid Metals Announces Closing of Second Tranche of Strategic Private Placement
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About this update from Grid Metals Corp.
[{"type":"text","content":"Grid Metals Announces Closing of Second Tranche of Strategic Private PlacementNot for distribution to United States Newswire Services or for dissemination in the United States TORONTO, ON / ACCESS Newswire / October 30, 2025 / Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) (\"Grid\" or the \"Company\") is pleased to announce it has closed the second and final tranche of its previously announced non-brokered private placement for aggregate gross proceeds of C$2,347,158 (the \"Second Tranche\"). The Second Tranche consisted of the issuance of 7,060,903 Common Shares to a strategic investor (the \"Investor\") and an existing institutional shareholder at a price of C$0.12 per Common Share and 7,575,000 charity flow-through shares (the \"CFT Shares\") to charitable purchasers at a price of C$0.198 per CFT Share. Each CFT Share will be issued as a \"flow-through share\" within the meaning of the Income Tax Act (Canada).The aggregate gross proceeds of C$4,027,158 from the first tranche (the \"First Tranche\") and the Second Tranche (the \"Offering\") will be used to finance exploration, primarily at the Company's Falcon West cesium project and within the Bird River Belt in southeastern Manitoba targeting nickel, copper and PGM targets, as well as for general corporate purposes with respect to the proceeds raised from the issuance of Common Shares. There are no warrants or finder's fees associated with the Offering.The proceeds from the issuance of the CFT Shares are intended to be used for exploration of the Company's property portfolio in Manitoba (primarily the Falcon West Cesium Property) and will be used to incur \"Canadian exploration expenses\" that qualify as \"flow-through mining expenditures\" as defined in the Income Tax Act (Canada), and for Manitoba purchasers, the CFT Shares will be eligible for the 30% Manitoba Mineral Exploration Tax Credit (the \"Qualifying Expenditures\"). The Company will renounce all the Qualifying Expenditures in favour of the subscribers of the CFT Shares effective December 31, 2025.An insider of the Company participated in the Offering, acquiring an aggregate of 5,565,233 Common Shares for total gross proceeds of approximately $667,828. Such participation constitutes a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Specia...