Grid Battery Metals Inc. announces that it has closed a non-brokered private placement financing offering of 60,000,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 3,000,000 on June 22, 2023. Each unit is comprised of one common share and one share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the company at an exercise price of CAD 0.055 per share for a period of five years from closing, subject to TSX Venture Exchange approval. As a part of transaction, the company also paid finder fees in the amount of CAD 191,950 cash, 1,710,000 shares and 702,000 warrants in connection with the private placement. The finder fees are subject to exchange approval. All securities issued in connection with the private placement will be subject to a four-month and a day hold period expiring on October 23, 2023 in accordance with applicable Canadian Securities Laws. Insiders of the company purchased a total of 1,000,000 units under the private placement.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 31 placees including existing insider involvement of one insider for 1,000,000 and pro group involvement of three insiders for 900,000.