Grid Metals Corp - Announcement of Voting Results of Annual Meeting

TORONTO, ON / ACCESSWIRE / October 2, 2023 / Grid Metals Corp. (the "Company" or "Grid") (TSXV:GRDM)(OTCQB:MSMGF) today announced the results of the voting at the Annual and Special Meeting of the Company held on September 29, 2023 (the "Meeting"). The Company is pleased to note that all the matters and resolutions proposed in the meeting circular were passed by shareholders.

Election of Directors
The following directors were elected at the Meeting - Robin E Dunbar , Thomas W Meredith, Edward J Munden, Patrick Murphy and Grant McAdam.

Special Resolutions
At the Meeting the following special resolutions were also approved by the shareholders:

1) approval of the Equity Incentive Plan which was approved by a majority of disinterested shareholders;

2) approval of the Amendments to Articles of Incorporation of the Corporation in order to qualify for potential listing on the Australian Securities Exchange

3) approval of the share Issuance to a Li Equities Investments LP ( "Li Equities" ) for cancellation of an option to purchase an additional interest in the Donner Lake and Campus Creek Joint Ventures (the "Joint Ventures") which was approved by a majority of disinterested shareholders. The option granted Li Equities the right to purchase 20% of the wholly owned subsidiary of the Company which holds its 75% joint venture interests. The Company issued a total of 7,142,858 shares to Li Equities in order to terminate the option. Disinterested shareholders approval of the share issuance was required as Li Equities is a related party of the Company by virtue of it being controlled by Waratah Capital Advisors which held 14.2% of the outstanding common shares of the Company as of the record date. The Board of Directors of Grid determined that it was in the best interests of the Company to control as much of the Joint Ventures as it could and eliminate any uncertainty regarding its ongoing interest in the Joint Ventures. Details of the transaction were fully described in the Company's press release dated July 5, 2023 and in the Management Information Circular for the Meeting.

About Grid Metals Corp.

Grid Metals is focused on both lithium and Ni-Cu-PGM in the Bird River area approximately 150 km north east of Winnipeg Manitoba. The Donner Lake Lithium Property in Manitoba is a 75% owned property subject to a joint venture agreement. In addition to activity at Donner Lake the Company has the Falcon West Lithium Property located southeast of Winnipeg and a PEA stage Ni-Cu-PGM-Co project (Makwa-Mayville) undergoing exploration and development activity.