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Grid Metals Corp. Closes Initial Tranche of Financing Prepares for Drill Program at East Bull Lake Platinum Palladium Property
TORONTO, ON / ACCESSWIRE / December 2, 2019 / Grid Metals Corp ( TSXV:GRDM ) (" Grid " or th...
About this update from Grid Metals Corp.
[{"type":"text","content":"Grid Metals Corp. Closes Initial Tranche of Financing Prepares for Drill Program at East Bull Lake Platinum Palladium PropertyTORONTO, ON / ACCESSWIRE / December 2, 2019 / Grid Metals Corp (TSXV:GRDM) (\"Grid\" or the \"Company\") today announced the initial closing of its $500,000 financing announced on October 29, 2019 . Pursuant to the Offering the Company has issued 2,500,000 Units at $0.10 per Unit and 280,000 Flow Through shares at $0.125 per share for gross proceeds of $285,000. Each Unit consists of a common share and a warrant exercisable at $0.15 per share for a period of two years. The Company anticipates it will issue additional Units and Flow Through shares pursuant to final closing of the Offering. Finders fees of $1,750 were paid in connection with a part of the financing.A portion of the proceeds of the Offering will be used to finance the drilling of the East Bull Lake Platinum Palladium Property which is located approximately 80 km west of Sudbury Ontario. Several prospective areas have been identified for drill testing with drilling expected to commence in the latter part of January 2020. Information about the East Bull Lake Property can be found on the Grid website at www.gridmetalscorp.com.About Grid Metals Corp. Grid Metals Corp. is an exploration and development Company that has a diversified portfolio of projects in the nickel-copper-platinum group metal sectors. These commodities are vital to the emerging battery metals and energy storage sector. All of Grid's projects are located in Manitoba or Ontario, Canada. The Company is focused on timely advancement of its property portfolio through prudent exploration and development activities.To find out more about Grid Metals, please visit www.gridmetalscorp.com.On Behalf of the Board of Grid Metals Corp.Robin Dunbar - President, CEO & DirectorTelephone: 416-955-4773David Black - Investor RelationsEmail: [email protected]: [email protected] seek safe harbour.This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, \"forward-looking statements\"). Such forward-looking statements may include the Company's plans for its properties, the overall economic potential of ...