Grounded Lithium Corp. announced a non-brokered private placement of units for a minimum of CAD 500,000 on September 7, 2023. The units will consists of one class A common share and one-half of one common share purchase warrant.

Each whole Warrant may be exercised into a Common Share at a strike price of CAD 0.18 for up to 24 months. The common shares will be subject to a four-month hold period pursuant to securities regulations. The transaction is expected to close on or around September 20, 2023.

The company has received commitments from certain insiders of CAD 250,000 for approximately 16% stake in the company.