Grid Battery Announces Record Date and Effective Date for Spin-Out of AC/DC Battery Shares

• Grid Battery Metals Inc. sets April 25, 2024 as the record date for the distribution to its shareholders of AC/DC shares
• Payment date for the distribution will be April 26, 2024

COQUITLAM, BC / ACCESSWIRE / April 18, 2024 / Grid Battery Metals Inc. (the "Company" or "Grid") (TSXV:CELL)(OTCQB:EVKRF)(FRA:NMK2) is pleased to announce that the Company has fixed Thursday April 25, 2024 as the record date for the distribution of the AC/DC Battery Metals ("AC/DC") common shares to the Company's shareholders (the "Distribution Record Date"). On the Effective Date, Friday, April 26, 2024, the Company's shareholders of record at the close of business on the Distribution Record Date will receive 0.05 AC/DC common shares for every 1 Grid common shares ("Shares") held.

The Company's shareholders of record on the Distribution Record Date will receive an aggregate of 9,414,040 AC/DC common shares on a pro rata basis based on the number of issued and outstanding Shares of the Company on the Distribution Record Date. No fractional AC/DC common shares will be distributed to Grid's shareholders; all fractional amounts will be rounded to the nearest whole AC/DC common share. AC/DC is acquiring the Nickel Properties in British Columbia from Grid under the previously announced plan of arrangement as amended in exchange for 9,414,040 shares of AC/DC.

The Plan of Arrangement received shareholder approval on April 9, 2024 and the final court order for the Plan of Arrangement was obtained on April 12, 2024 from the Supreme Court of British Columbia pursuant to provisions of the BC Business Corporations Act. Receipt of final TSX Venture Exchange approval is subject to receiving the remaining closing documents which is expected to be on or before April 22, 2024.

AC/DC intends to issue a further news release as it pursues a listing on the TSX Venture Exchange.

About Grid Battery Metals Inc.
Grid Battery Metals Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

www.gridbatterymetals.com.

About Texas Springs Property
The Company owns a 100% interest in the Texas Spring Property which consists of mineral lode claims located in Elko County, Nevada. The Property is in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in volcanic tuff and tuffaceous sediments of the Humbolt Formation. A Phase 1 exploration program at the Texas Springs Property (Fall 2023) yielded results with average lithium grades of 2010 ppm, applying a 1,000 ppm cut-off, and up to 5,610 ppm Lithium.