- Grid Battery Metals Inc. (TSXV:CELL) has revealed April 25 as the date for distribution of AC/DC Battery Metals’ common shares to the company’s shareholders
- As of April 26 the company’s shareholders at the close of business the previous day will receive 0.05 AC/DC common shares for every 1 Grid common share
- Grid shareholders will receive an aggregate of 9.414 million AC/DC common shares on a pro-rata basis
- Shares of Grid Battey Metals are unchanged at C$0.05
Grid Battery Metals (TSXV:CELL) has revealed April 25 as the date for distribution of AC/DC Battery Metals’ common shares to the company’s shareholders.
In a news release, the company stated that as of April 26 the company’s shareholders, as of close of business the previous day, will receive 0.05 AC/DC common shares for every 1 Grid common share.
Additionally, Grid Battery Metals Inc. shareholders will receive an aggregate of 9.414 million AC/DC common shares on a pro-rata basis.
As it moves to pursue a listing on the TSX Venture Exchange, AC/DC will issue its own news release when that time comes.
The announcement comes after Grid Battery Metals Inc. revealed at the end of March that it had begun exploration work at its Clayton Valley Project in Nevada.
The company stated the magnetotelluric geophysics survey program will be done by KLM Geoscience.
“KLM is a company that our geological team has successfully used several times in the past for lithium exploration work in Nevada. The MT survey has just begun, will be followed by a detailed soil sampling program by Rangefront Exploration under the guidance of our qualified professional,” Tim Fernback, CEO of Grid Battery Metals Inc., said in a statement.
The company stated the results will form the basis for future exploration programs later in the year.
Grid owns a 100 per cent interest in 113 lithium lode and placer claims covering more than 640 hectares in Clayton Valley.
Grid Battery Metals Inc. maintains a focus on exploration for high-value battery metals intended for the electric vehicle market.
Shares of Grid Battey Metals Inc. (TSXV:CELL) are unchanged at C$0.05.
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