- Grid Battery Metals (TSXV:CELL) expands its footprint and land holdings in Northern British Columbia with a new copper property
- The company has entered into an agreement with AC/DC Battery Metals to acquire 100 per cent interest in 17 mineral claims totaling 27,525.24 hectares
- Grid will acquire the property by making a cash payment of C$48,172.15 and issuing five million fully paid and non-assessable common shares at a price of $0.05 each
- Shares of Grid Battery Metals are unchanged at C$0.04
Grid Battery Metals (TSXV:CELL) has expanded its footprint and land holdings in Northern British Columbia with a new copper property.
In a news release Thursday, the company stated that it has entered into an agreement with AC/DC Battery Metals to acquire 100 per cent interest in 17 mineral claims totalling 27,525.24 hectares.
Under the terms of the agreement, Grid will acquire the property by making a cash payment of C$48,172.15 and issuing 5 million fully paid and non-assessable common shares at a price of $0.05 each.
“We’re excited to acquire approximately 275 square kilometres of tenures in such a favourable mining region within B.C.,” Tim Fernback, CEO of Grid Battery Metals, said in a statement. “This area of the province has already generated several promising projects, and our land package is strategically situated to exploit the high copper-gold values of the region.
According to a B.C. Minfile assessment report, it is estimated that most of the area covered by the copper property was staked during surges of exploration dating as far back as the 1940s with little follow-up.
Notably, the region in which the property is located has generated several promising projects, making the company’s newly acquired land package strategically situated to exploit the high copper-gold values of the region.
Grid Battery Metals is a Canadian-based exploration company with a focus on exploration for high-value battery metals for the electric vehicle market.
Shares of Grid Battery Metals Inc. (TSXV:CELL) are unchanged at C$0.04.
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