CALGARY,
AB, Dec. 9, 2022 /CNW/ - (TSXV: GRD) (OTCQB:
GRDAF) – Grounded Lithium Corp. ("GLC" or the
"Company") is pleased to announce that its common shares
(the "Common Shares") will commence trading on the OTCQB
Venture Market ("OTCQB") on December
9, 2022 under the ticker symbol "GRDAF". U.S. investors can
find current financial disclosure and Real-Time Level 2 quotes for
the Company on https://www.otcmarkets.com/. The Common Shares
will continue to trade on the TSX Venture Exchange under the symbol
"GRD". The OTCQB provides value and convenience to U.S. investors,
brokers and institutions seeking to trade the Common Shares.
Alongside this effort, the Company also received approval for DTC
Eligibility which acts as a clearing house to settle trades in
the United States, furthering the
liquidity of the Common Shares.
"GLC's business plan continues to advance quickly and the
trading status now of the Company's Common Shares on the OTCQB in
mere months after obtaining a public listing in Canada is something we believe reflects the
quality and depth of our team," commented Gregg Smith, President & CEO. "We continue
to look forward to advance the value proposition for all
stakeholders." Greg
Phaneuf, VP Finance & CFO added, "The OTCQB trading
qualification provides access to a much larger capital base in
the United States together with
greater liquidity for the Common Shares and visibility in the North
American market all of which are expected to enhance capital
formulation strategies to fund key valuation milestone events."
Dorsey & Whitney LLP acted as the Company's OTCQB
sponsor.
About OTC Markets Group
Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best
Market, the OTCQB® Venture Market and the Pink® Open Market for
11,000 U.S. and global securities. Through OTC Link® ATS and OTC
Link ECN, PTC Market Group Inc. connects a diverse network of
broker dealers that provide liquidity and execution services. The
company enables investors to easily trade through the broker of
their choice and empower companies to improve the quality of
information available for investors. To learn more about how OTC
Markets Group Inc. creates better informed and more efficient
markets, visit www.otcmarkets.com.
Market Support Agreement
The Company has retained Integral Wealth Securities Limited
("Integral") to provide market making services for trading
on the TSX Venture Exchange ("TSXV") in accordance with the
TSXV policies. Integral will trade the securities of the
Company on the TSXV for the purpose of maintaining an orderly
market. In consideration of the services provided by
Integral, the Company will engage Integral for a minimum three
month period, followed by a month-to-month contract should the
Company wish to continue with the services. Assuming an
engagement beyond 3 months, fees are set at $6,000 per month. Integral and GLC
are unrelated and unaffiliated entities. Integral will not
receive shares or options as consideration. The capital used
for market making will be provided by Integral.
About Grounded Lithium
Corp.
GLC is a publicly traded lithium brine exploration and
development company that controls 2.9 million tonnes of lithium
carbonate equivalent over its focused land holdings in Southwest
Saskatchewan. GLC's multi-faceted business model involves the
consolidation, delineation, exploitation and ultimate development
of its opportunity base to fulfill our vision to build a
best-in-class, environmentally responsible, Canadian lithium
producer supporting the global energy transition shift.
Qualified Persons
Scientific and technical information contained in this press
release has been prepared under the supervision of Doug Ashton, P.Eng, Idi
Ishaya, P.Eng, Patou Zeleke,
P.Eng and Thomas Jerome, P. Geo,
each of whom are a qualified person within the meaning of National
Instrument 43-101 – Standards of Disclosure for Mineral
Projects.
Forward-Looking Statements
This press release may contain forward-looking statements and
forward-looking information within the meaning of applicable
Canadian securities laws. The opinions, forecasts, projections and
statements about future events of results, are forward looking
information, forward-looking statements or financial outlooks
(collectively, "forward-looking statements") under the
meaning of applicable Canadian securities laws. These statements
are made as of the date of this press release and the fact that
this press release remains available does not constitute a
representation by GLC that the Company believes these
forward-looking statements continue to be true as of any subsequent
date. Although GLC believes that the assumptions underlying, and
expectations reflected in, these forward-looking statements are
reasonable, it can give no assurance that these assumptions and
expectations will prove to be correct. Such statements include, but
are not limited to, statements regarding the potential increase in
liquidity of the Common Shares, an increase in the Company's
visibility the growth of the investor base and the enhancement of
capital formation strategies as a result of the OTCQB listing,
achieving project milestones, commercializing GLC's operations, and
GLC's vision of becoming a best-in-class, environmentally
responsible, Canadian lithium producer supporting the global energy
transition.
Among the important factors that could cause actual results to
differ materially from those indicated by such forward-looking
statements are: GLC's expectation that our operations will be in
Western Canada, unexpected
problems can arise due to technical difficulties and operational
difficulties which impact the production, transport or sale of our
products; geographic and weather conditions can impact the
production; the risk that current global economic and credit
conditions may impact commodity prices and consumption more than
GLC currently predicts; the failure to obtain financing on the
terms set out herein or other reasonable terms; risks relating to
the ability of the Company to obtain required approvals to complete
the Offering on the terms announced; volatility in the trading
price of the common shares of the Company; the risk that unexpected
delays and difficulties in developing currently owned properties
may occur; the failure of drilling to result in commercial
projects; unexpected delays due to the limited availability of
drilling equipment and personnel; and the other risk factors
detailed from time to time in GLC's periodic reports. GLC's
forward-looking statements are expressly qualified in their
entirety by this cautionary statement.
This news release shall not constitute an offer to sell or
the solicitation of an offer to buy any securities in any
jurisdiction.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
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SOURCE Grounded Lithium Corp