Grit Metals Corp. Announces Non-Brokered Private Placement

Core Viewpoint - Grit Metals Corp. is initiating a non-brokered private placement to raise up to $1,000,000 through the sale of 10,000,000 units at $0.10 per unit, with proceeds aimed at working capital and corporate purposes [1][2]. Group 1: Offering Details - The Offering consists of units, each comprising one common share and one half of a common share purchase warrant, with each whole warrant allowing the purchase of one share at $0.25 for two years [1]. - The Offering is expected to close in December 2025, subject to customary conditions including TSX Venture Exchange approval [2]. - Securities issued will have a four-month-and-one-day resale restriction in accordance with securities laws [2]. Group 2: Company Overview - Grit Metals is focused on the Lithium-Cesium-Tantalum Finnish Pegmatite Project in central Finland, which is strategically located near the Keliber mine and production complex [3]. - The company is positioned to benefit from European legislation promoting environmentally friendly and energy-independent policies, particularly regarding access to rare earth elements and lithium [3]. Group 3: Industry Context - Keliber's parent company, Sibanye-Stillwater Limited, is investing an estimated €600 million in the Kautinen Region for the development of lithium mining infrastructure, including a spodumene concentrator and a lithium hydroxide chemical plant [4]. - This investment aims to establish a complete hard-rock spodumene pegmatite lithium supply chain, enhancing the region's lithium production capabilities [4].