CALGARY, AB, Dec. 9, 2022 /PRNewswire/ - (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.
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.
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.
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.
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.
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