Streetbeat News

GRDAF

Grounded Lithium Corp

Open

0.04

Mkt cap

Volume

47K

High

0.04

P/E Ratio

-2.15

52-wk high

0.10

Low

0.04

Div yield

N/A

52-wk low

0.02

Grounded Lithium Corp. (GLC) has entered into a strategic investment agreement with Denison Mines Corp (Denison), where Denison can earn up to a 75% interest in the Kindersley Lithium Project (KLP) by funding up to CAD$15.15M. The funds will advance the KLP, including a field pilot and other project expenditures. Denison will also become the KLP operator and has purchased a 5% gross overriding royalty on the KLP for CAD$800,000, which may reduce to 2% and be eliminated under certain conditions. The agreement includes three earn-in options, with Denison funding 100% of KLP expenditures during the earn-in period. The deal is subject to TSX Venture Exchange approval and GLC shareholder consent.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 3:05 pm

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