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Grid Metals Completes Fully Subscribed $8.52 Million Financing

Press Release

Toronto, Ontario, September 26 2022 – Grid Metals Corp. (the “Company”) (TSXV:GRDM OTCQB:MSMGF ) is pleased to announce completion of a private placement of securities (the “Offering”) originally announced on August 22, 2022. The Company issued a total of 56 million common shares of the company including 20 million shares by way of a charitable flow through offering which were priced at $0.21 per share. The total gross proceeds of the Offering were $8,520,000. The second tranche of the financing consisted of the issuance of 30,000,000 common shares of the Company issued at $0.12 per share. All shares issued under the Offering are subject to a voluntary one year hold period. Churchill Strategic Investments Group Pty Ltd of Perth Australia was an investor and also acted as the lead manager for the Offering.

The Offering included an additional investment from Lithium Royalty Corp a leading pure play battery royalty and streaming company and new cornerstone investments by AMCI Group – a globally diversified mining and investment group specializing in the natural resource industry, Primero Group – a highly specialized engineering and operations company based in Perth Australia and the Waratah Electrification and Decarbonization Fund .

The net proceeds from the common shares will be used for exploration of the Company’s property portfolio in Manitoba and Ontario and for general working capital purposes. Grid is currently focused on the PEA stage Makwa Mayville Ni-Cu-PGM-Co project in Manitoba and the Donner Lake and Campus Creek lithium properties in Manitoba and Ontario. Grid also has other mining interests including Mineral Exploration Licenses in northern Manitoba prospective for nickel copper and platinum group metals and several exploration stage lithium properties.

Finders fees for the second tranche consisted of seven million finders warrants exercisable at $0.20 for a period of 3 years and $144,000 cash. Total finders fees paid for the Offering consisted of 12,360,000 finders warrants and $355,200 cash.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. persons,” as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Grid Metals Corp.

Grid Metals Corp. is an exploration and development Company that has a diversified portfolio of projects focused on the nickel-copper-platinum group metals and lithium. Grid’s projects are located in the provinces of Manitoba and 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 Corp., please visit www.gridmetalscorp.com.

On Behalf of the Board of Grid Metals Corp.

Robin Dunbar – President, CEO & Director Telephone: 416-955-4773 Email: [email protected]
David Black – Investor Relations Email: [email protected]

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