Grounded Lithium (TSXV:GRD), focused on lithium extraction from the production of subsurface brines in Western Canada, is one of the latest new listings on the TSX Venture Exchange, following its Reverse Take Over of VAR Resources. The company is an Alberta-headquartered lithium resource company focused on lithium extraction from the production of subsurface brines in Western Canada for supplying into the rapidly developing electricity-powered economy.
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Grounded Lithium Corp (TSXV:GRD) is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “GRD”, following its Reverse Take Over of VAR Resources.
The company is an Alberta-headquartered lithium resource company focused on lithium extraction from the production of subsurface brines in Western Canada for supplying into the rapidly developing electricity-powered economy.
Southern Alberta and Saskatchewan have massive shallow water carbonate structures which are ideal conduits for massive lithium rich brine reservoirs.
These reservoirs are well understood due to decades of historic oil and gas development in the area.
The company controls 2.9 million tonnes of lithium carbonate equivalent over its focused land holdings in Southwest Saskatchewan.
As of March 2022, the company had acquired more than 55,600 hectares of crown a freehold mines and minerals permits and leases across the Kindersley Lithium Project.
The acreage includes 4 crown permits acquired from the Saskatchewan Ministry of Energy and Resources, with the company holding a 100% working interest, with no additional encumbrances.
Management is quick to point out that it is not into research and development but is in collaborations with various Direct Lithium Extraction technology providers and will deploy the technology that achieves the highest, repeatable and reliable results.
Gregg Smith, President and CEO, stated: “This represents a significant milestone in the execution of the overall business plan for GLC. Right from the genesis of the idea to create a best-in-class lithium from brine resource development company, the team and its advisors have done a tremendous job in accomplishing many significant milestones in an extremely short time frame. Our rapid growth and associated achievements instill a sense of team pride providing confidence to further execute on the overall commercialization plan and drive shareholder value, now as a public company with a working capital balance sufficient to address near-term catalysts.”
Greg Phaneuf, VP Finance and CFO, added: “With the public listing now behind us, we look forward to accessing capital in many more forms than would otherwise be available to a private junior start-up of this nature. Financing of resource development companies can come in many forms but with the attainment of a public listing, we look forward to striking the appropriate balance between structure, cost, timing and amount of capital to fund our business plan. We also wish to thank the TSXV officials who worked diligently on our application and assisted us throughout the listing process.”
The shares are trading at $0.34, with 56.9 million shares outstanding.
For more information, please visit the company’s website www.GroundedLithium.com, contact Gregg Smith, President & CEO, at gregg.smith@GroundedLithium.com or Greg Phaneuf, VP Finance & CFO, at greg.phaneuf@GroundedLithium.com, or call 587-319-6220.
